DraftKings Inc.

Major Shareholding Notification • Oct 1, 2021

National Storage Mechanism | Additional information

RNS Number : 7557N

DraftKings Inc.

01 October 2021

FORM 8 (DD)

PUBLIC DEALING DISCLOSURE BY A PARTY TO AN OFFER OR PERSON ACTING IN CONCERT (INCLUDING DEALINGS FOR THE ACCOUNT OF DISCRETIONARY INVESTMENT CLIENTS)

Rules 8.1, 8.2 and 8.4 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Full name of discloser:	Paul Liberman
(b) Owner or controller of interests and short positions disclosed, if different from 1(a):      The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.	N/A
(c) Name of offeror/offeree in relation to whose relevant securities this form relates:      Use a separate form for each offeror/offeree	DraftKings Inc.
(d) Status of person making the disclosure:      e.g. offeror, offeree, person acting in concert with the offeror/offeree (specify name of offeror/offeree)	Person acting in concert with the offeror (DraftKings Inc.)
(e) Date dealing undertaken:	30 September 2021
(f)  In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?      If it is a cash offer or possible cash offer, state "N/A"	No

2.         POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing

Class of relevant security:	Class A common stock, par value $0.0001 each
	Interests		Short positions
Number	%	Number	%
(1) Relevant securities owned and/or controlled:	1,329,757	0.328	Nil	-
(2) Cash-settled derivatives:	Nil	-	Nil	-
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	Nil	-	Nil	-
TOTAL:	1,329,757	0.328	Nil	-

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

Details of any securities borrowing and lending positions or financial collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).

(b)        Rights to subscribe for new securities (including directors' and other employee options)

(i) Stock options

Class of relevant security in relation to which subscription right exists:

Class A common stock, par value $0.0001 each

Details, including nature of the rights concerned and relevant percentages:

Grant Date	Expiry Date	Number of options	Exercise Price	Vesting
10/02/2016	18/02/2025	67,187	$0.63	Fully Vested
24/03/2016	24/03/2026	354,239	$0.63	Fully Vested
03/05/2017	03/05/2017	40,886	$3.82	Fully Vested
18/04/2018	18/04/2028	208,088	$3.29	(i) 23,120 options vest on 01/01/2022, (i) 23,121 options vest on 01/10/2021, (ii) 23,121 options vest on 01/04/2022, (iii) 48,092 have vested
03/05/2018	03/05/2018	1,511,843	$3.29	Fully Vested
04/06/2019	04/06/2029	21,302	$4.70	(i) 18,786 options vest on 01/03/2023, (ii) 2,516 options vest on 01/06/2023
04/06/2019	04/06/2029	406,671	$4.70	Fully Vested
04/06/2019	04/06/2029	222,920	$4.70	(i) 18,786 options vest on 01/12/2021, (ii) 18,786 options vest on 01/03/2022, (iii) 18,786 options vest on 01/06/2022, (iv) 18,786 options vest on 01/09/2022, (v) 18,786 options vest on 01/12/2022, (vi) 16,270 options vest on 01/06/2023, (vii) 112,720 have vested

(ii) DraftKings Inc. restricted stock units (RSUs)

Class of relevant security in relation to which subscription right exists:

Class A common stock, par value $0.0001 each

Details, including nature of the rights concerned and relevant percentages:

Grant Date	Number of shares RSUs	Vesting
11/08/2020	99,828	The RSUs may vest based on performance criteria
11/08/2020	127,460	The RSUs vest in equal instalments on 23/10/2021, 23/01/2022, 23/04/2022, 23/07/2022, 23/10/2022, 23/01/2023, 23/04/2023, 23/07/2023, 23/10/2023, 23/01/2024, 23/04/2024
27/12/2020	3,000,000	The RSUs may vest based on performance criteria
22/02/2021	85,078	The RSUs may vest based on performance criteria
22/02/2021	74,443	The RSUs vest in equal instalments on 22/11/2021, 22/02/2022, 22/05/2022, 22/08/2022, 22/11/2022, 22/02/2023, 22/05/2023, 22/08/2023, 22/11/2023, 22/02/2024, 22/05/2024, 22/08/2024, 22/11/2024, 22/02/2025

(iii) Private warrants(1)

Class of relevant security in relation to which subscription right exists:

Class A common stock, par value $0.0001 each

Details, including nature of the rights concerned and relevant percentages:

Expiry Date	Number of Warrants	Exercise Price
23/05/2025	276	$11.50

Notes

(1)   Each warrant entitles the holder to purchase one share of the offeror's Class A common stock at an exercise price of $11.50 per share, subject to adjustment procedures.  The warrants became exercisable on 23 May 2020 and will expire on 23 April 2025, or earlier upon redemption or liquidation.

3.         DEALINGS BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a)        Purchases and sales

(i)         Party to an offer or person acting in concert (except for a principal trader in the same group as a connected adviser)

Class of relevant security	Purchase/sale(1)	Number of securities	Price per unit ($)
Class A common stock, par value $0.0001 each	Sale	391	47.555
Sale	298	47.56
Sale	382	47.575
Sale	416	47.58
Sale	265	47.59
Sale	414	47.6
Sale	100	47.605
Sale	100	47.645
Sale	412	47.65
Sale	378	47.655
Sale	257	47.66
Sale	100	47.665
Sale	785	47.67
Sale	455	47.675
Sale	137	47.68
Sale	457	47.7
Sale	633	47.705
Sale	267	47.71
Sale	410	47.715
Sale	361	47.72
Sale	393	47.725
Sale	100	47.73
Sale	1	47.735
Sale	457	47.74
Sale	680	47.745
Sale	622	47.755
Sale	16	47.765
Sale	370	47.77
Sale	300	47.775
Sale	524	47.78
Sale	238	47.785
Sale	345	47.79
Sale	386	47.795
Sale	402	47.8
Sale	391	47.81
Sale	768	47.82
Sale	388	47.825
Sale	364	47.83
Sale	192	47.84
Sale	578	47.85
Sale	809	47.86
Sale	1,114	47.87
Sale	708	47.875
Sale	765	47.88
Sale	436	47.89
Sale	401	47.895
Sale	1,544	47.9
Sale	163	47.91
Sale	1,026	47.915
Sale	414	47.92
Sale	414	47.925
Sale	606	47.93
Sale	401	47.935
Sale	438	47.94
Sale	12	47.95
Sale	133	47.955
Sale	391	47.96
Sale	1,183	47.965
Sale	1,063	47.97
Sale	473	47.975
Sale	252	47.985
Sale	100	48
Sale	342	48.005
Sale	619	48.01
Sale	307	48.015
Sale	507	48.02
Sale	100	48.025
Sale	851	48.03
Sale	100	48.035
Sale	200	48.04
Sale	294	48.045
Sale	250	48.05
Sale	195	48.055
Sale	881	48.065
Sale	743	48.07
Sale	613	48.075
Sale	583	48.08
Sale	743	48.085
Sale	582	48.09
Sale	413	48.1
Sale	1,014	48.105
Sale	356	48.115
Sale	37	48.12
Sale	550	48.125
Sale	201	48.13
Sale	582	48.135
Sale	1,978	48.14
Sale	882	48.145
Sale	861	48.15
Sale	100	48.155
Sale	1,113	48.16
Sale	56	48.165
Sale	429	48.17
Sale	6	48.175
Sale	1,530	48.18
Sale	193	48.185
Sale	929	48.19
Sale	491	48.195
Sale	660	48.2
Sale	100	48.21
Sale	399	48.215
Sale	96	48.22
Sale	1,053	48.23
Sale	100	48.235
Sale	840	48.24
Sale	903	48.25
Sale	100	48.255
Sale	503	48.265
Sale	382	48.27
Sale	385	48.275
Sale	773	48.28
Sale	329	48.285
Sale	200	48.29
Sale	100	48.295
Sale	698	48.31
Sale	371	48.315
Sale	501	48.32
Sale	404	48.325
Sale	395	48.335
Sale	360	48.355
Sale	412	48.36
Sale	758	48.37
Sale	360	48.38
Sale	814	48.385
Sale	856	48.39
Sale	443	48.395
Sale	286	48.4
Sale	363	48.405
Sale	850	48.41
Sale	91	48.425
Sale	50	48.43
Sale	200	48.435
Sale	93	48.44
Sale	200	48.445
Sale	427	48.45
Sale	652	48.46
Sale	355	48.465
Sale	362	48.47
Sale	405	48.475
Sale	879	48.48
Sale	474	48.485
Sale	454	48.49
Sale	860	48.495
Sale	389	48.5
Sale	250	48.505
Sale	283	48.515
Sale	383	48.52
Sale	355	48.525
Sale	61	48.545
Sale	1,230	48.55
Sale	64	48.555
Sale	371	48.56
Sale	1,262	48.57
Sale	387	48.575
Sale	394	48.585
Sale	425	48.595
Sale	121	48.6
Sale	99	48.61
Sale	137	48.62
Sale	385	48.625
Sale	1,057	48.63
Sale	1,183	48.64
Sale	360	48.65
Sale	205	48.655
Sale	250	48.665
Sale	379	48.67
Sale	746	48.68
Sale	1	48.71
Sale	429	48.725
Sale	662	48.75
Sale	832	48.76
Sale	178	48.77
Sale	200	48.775
Sale	360	48.785
Sale	175	48.795
Sale	435	48.8
Sale	438	48.81
Sale	166	48.815
Sale	386	48.82
Sale	172	48.825
Sale	360	48.83
Sale	390	48.84
Sale	391	48.855
Sale	338	48.865
Sale	363	48.875
Sale	212	48.895
Sale	430	48.96

Notes

(1)   These dealings were carried out pursuant to Mr Liberman's existing Rule 10b5-1 plan.

(ii)        Principal trader where the sole reason for the connection is that the principal trader is in the same group as a connected adviser

Class of relevant security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received

(b)        Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit

(c)        Stock-settled derivative transactions (including options)

(i)         Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii)        Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against(1)	Number of securities	Exercise price per unit
Class A common stock, par value $0.0001 each	Director/ employee stock options	Exercising	85,000 new shares of class A common stock	17,847 options exercised at $3.82 per share 67,513 options exercised at $3.29 per share

Notes

(1)   These options were exercised automatically pursuant to the terms of the relevant option plan.

(d)        Other dealings (including subscribing for new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)

4.         OTHER INFORMATION

(a)        Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the party to the offer or person acting in concert making the disclosure and any other person: Irrevocable commitments and letters of intent should not be included.  If there are no such agreements, arrangements or understandings, state "none"
None.

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the party to the offer or person acting in concert making the disclosure and any other person relating to: (i)  the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none"
None.

(c)        Attachments

Are any Supplemental Forms attached?

Supplemental Form 8 (Open Positions)	NO
Supplemental Form 8 (SBL)	NO

###### Date of disclosure:	1 October 2021
###### Contact name:	Joe DeCristofaro, Investor Relations
###### Telephone number:	+1 617 986 6744

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

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