Kalish Matthew sold DKNG

Footnotes

On September 2, 2026, the Reporting Person physically settled at maturity under its existing terms a prepaid variable forward sale contract entered into on September 12, 2023 (the "2023 Contract") with an unaffiliated third-party buyer. The 2023 Contract obligated the Reporting Person to deliver to the buyer up to an aggregate of 875,000 shares (the "Base Amount") of the Issuer's Class A Common Stock (or, at the Reporting Person's election, an equivalent amount of cash based on the market price of the Issuer's Class A Common Stock) following the maturity date of September 2, 2026 (the "Maturity Date").; On the Maturity Date, the Settlement Price (as defined in footnote 3 to this Form 4) was $24.21. Accordingly, the Reporting Person transferred to the buyer 864,880 of the Pledged Shares (as defined in footnote 5 to this Form 4). The remaining 10,120 Pledged Shares were returned to the Reporting Person by the buyer.; The 2023 Contract provided that the number of shares of the Issuer's Class A Common Stock to be delivered to the buyer on the second business day immediately following the Maturity Date would be determined as follows: (a) if the closing price of shares of the Issuer's Class A Common Stock on Maturity Date (the "Settlement Price") was less than $48.55 (the "Cap Level") but greater than $23.93 (the "Floor Level"), the Reporting Person would deliver a number of shares of the Issuer's Class A Common Stock equal to the Base Amount multiplied by a ratio equal to the Floor Level divided by the Settlement Price; (continued on footnote 4 to this Form 4); (Continued from footnote 3 to this Form 4) (b) if the Settlement Price was equal to or greater than the Cap Level on the Maturity Date, the Reporting Person would deliver a number of shares of the Issuer's Class A Common Stock equal to the Base Amount multiplied by a ratio equal to a fraction with a numerator equal to the sum of (A) the Floor Level and (B) the excess, if any, of the Settlement Price over the Cap Level, and a denominator equal to the Settlement Price; and (c) if the Settlement Price was equal to or less than the Floor Level on the Maturity Date, the Reporting Person would deliver a number of shares of the Issuer's Class A Common Stock equal to the Base Amount.