DraftKings Inc.

Major Shareholding Notification • Oct 4, 2021

National Storage Mechanism | Additional information

RNS Number : 8746N

DraftKings Inc.

04 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:	Matthew Kalish
(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:	1 October 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:	1,795,077	0.443	Nil	-
(2) Cash-settled derivatives:	Nil	-	Nil	-
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	Nil	-	Nil	-
TOTAL:	1,795,077	0.443	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	187,787	$0.63	Fully Vested
24/03/2016	24/03/2026	115,424	$0.63	Fully Vested
03/05/2017	03/05/2017	354,097	$3.82	Fully Vested
18/04/2018	18/04/2028	584,498	$3.29	(i) 13,873 options vest on 01/01/2022, (ii) 13,872 options vest on 01/04/2022, (iii) 556,753 options have vested
03/05/2018	03/05/2018	1,511,843	$3.29	Fully Vested
04/06/2019	04/06/2029	707,254	$4.70	(i) 18,786 options vest on 01/12/2021, (ii) 18,787 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) 18,786 options vest on 01/03/2023, (vii) 18,786 options vest on 01/06/2023, (viii) 575,751 options 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	3,251	$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	738	48.55
Sale	379	48.59
Sale	200	48.68
Sale	802	48.73
Sale	366	48.77
Sale	1,108	48.78
Sale	363	48.82
Sale	410	48.84
Sale	380	48.86
Sale	419	48.87
Sale	432	48.88
Sale	367	48.91
Sale	377	48.94
Sale	414	48.99
Sale	422	49
Sale	434	49.02
Sale	832	49.03
Sale	416	49.04
Sale	100	49.045
Sale	400	49.055
Sale	100	49.06
Sale	744	49.07
Sale	534	49.08
Sale	800	49.11
Sale	431	49.14
Sale	363	49.15
Sale	388	49.21
Sale	396	49.25
Sale	384	49.26
Sale	358	49.27
Sale	1,409	49.29
Sale	1,239	49.3
Sale	534	49.31
Sale	558	49.32
Sale	908	49.33
Sale	367	49.34
Sale	1,254	49.35
Sale	359	49.36
Sale	778	49.37
Sale	404	49.4
Sale	389	49.44
Sale	203	49.46
Sale	778	49.49
Sale	426	49.52
Sale	364	49.53
Sale	425	49.54
Sale	422	49.55
Sale	839	49.59
Sale	369	49.61
Sale	850	49.63
Sale	393	49.65
Sale	412	49.66
Sale	367	49.67
Sale	1,154	49.69
Sale	100	49.74
Sale	771	49.75
Sale	1,192	49.76
Sale	413	49.77
Sale	375	49.82
Sale	366	49.83
Sale	428	49.84
Sale	367	49.88
Sale	425	49.89
Sale	399	49.9
Sale	375	49.92
Sale	414	49.93
Sale	1,190	49.95
Sale	445	49.97
Sale	434	49.98
Sale	390	49.99
Sale	809	50
Sale	403	50.01
Sale	789	50.04
Sale	750	50.05
Sale	717	50.06
Sale	431	50.07
Sale	432	50.09
Sale	398	50.14
Sale	415	50.15
Sale	424	50.24
Sale	367	50.25
Sale	808	50.28
Sale	753	50.29
Sale	387	50.3
Sale	200	50.31
Sale	928	50.33
Sale	774	50.34
Sale	1,603	50.35
Sale	1,567	50.36
Sale	1,210	50.37
Sale	2,476	50.38
Sale	2,430	50.39
Sale	1,149	50.4
Sale	1,207	50.41
Sale	1,191	50.42
Sale	1,266	50.43
Sale	100	50.44
Sale	1,617	50.45
Sale	1,510	50.46
Sale	3	50.465
Sale	1,200	50.47
Sale	1,584	50.48
Sale	1,286	50.49
Sale	2,329	50.5
Sale	1,219	50.51
Sale	864	50.52
Sale	200	50.53
Sale	848	50.54
Sale	2,124	50.55
Sale	1,984	50.56
Sale	182	50.575
Sale	2,675	50.58
Sale	2,070	50.59
Sale	1,932	50.6
Sale	338	50.605
Sale	1,176	50.61
Sale	407	50.615
Sale	2,172	50.62
Sale	175	50.625
Sale	953	50.63
Sale	432	50.635
Sale	1,160	50.64
Sale	420	50.65
Sale	226	50.66
Sale	1,150	50.67
Sale	472	50.68
Sale	887	50.69
Sale	395	50.7
Sale	379	50.71
Sale	230	50.72
Sale	429	50.73

Notes

These dealings were carried out pursuant to Mr Kalish'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	96,154 new shares of class A common stock	96,154 options exercised at $0.63 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:	4 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DCCFSIEDDEFSEES