Revisiting Who Is Open To Selling DraftKings Stock From SEC Filings

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DraftKings stock

There’s been no shortage of DraftKings stock shareholders looking to capitalize on massive gains since its IPO last year.

The company recently refiled updated information originally released in May about shareholders willing to sell all or part of their stakes:

The company also announced its cofounders will reduce their 2021 salaries to $1, but don’t start a GoFundMe yet: their bonuses are still intact and they’re looking to sell some shares too.

The refilings come after DraftKings’ quiet period ended following its 2020 year-end report, which led the company to a new 52-week high stock price above $68 despite massive losses. The company will update shareholders and other interested parties on its plans for DraftKings Sportsbook this year and beyond at an investor day presentation Tuesday.

DraftKings stock shareholders who would sell

The refilings show up to 44.7 million shares available associated with the IPO and another 190.7 million shares from existing shareholders.

It’s important to understand these filings don’t guarantee any sales will take place. If shares are sold, DraftKings would receive no proceeds from the private transactions. Only part of the DraftKings stock listed for sale might be sold as well.

The original prospectus filed last May includes many of the same shareholders listing their entire stakes as available.

So who’s on the list?

Nearly 1 million of the shares in the 44.7 million share prospectus would be sold by NFL owners:

The larger prospectus includes plenty of familiar names:

Management, directors too

Plenty of employees and directors are open as well:

Any share sales from executives are locked up through April 28 of this year.

Cofounders take $1 salary but bonuses remain

The company’s three cofounders – Robins, Kalish and Liberman – all agreed to lower their 2021 salaries to $1. The pay cut is to “fully align their pay with the interests of shareholders and DraftKings’ businesses.”

Those salaries are only a small part of their compensation. All three remain eligible for other compensation including target bonuses – Robins earned $2 million while Kalish and Liberman earned $1.1 million each from that bonus last year.

They’re also still entitled to an annual equity incentive award, which is worth a minimum annual target value of $6.5 million for Robins, and $3.5 million for Kalish and Liberman.