Form 4: Riot Platforms CEO Sells Shares Under 10b5-1 Plan

Riot Platforms CEO Jason Les sold 23,252 shares of common stock for $20.04 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Jason Les, CEO and Director of Riot Platforms, Inc. (RIOT), reported a sale of common stock.
• On September 24, 2025, Les disposed of 23,252 shares of Riot Platforms Common Stock.
• The shares were sold at a weighted average price of $20.04 per share.
• This transaction was executed under a Rule 10b5-1 trading plan adopted on September 10, 2024.
• Following the sale, Les directly owns 7,253,244 shares and indirectly owns 896,659 shares through a trust.

Sentiment

Score: 5

Explanation: The sale of shares by the CEO is a routine disclosure for a Form 4. While insider selling can sometimes be viewed negatively, the transaction was executed under a pre-arranged Rule 10b5-1 trading plan, which suggests it was not based on new, material non-public information, thus mitigating significant negative sentiment.

Positives

• The sale was conducted pursuant to a Rule 10b5-1 trading plan, indicating it was pre-scheduled and not based on new, material non-public information.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived by investors as a minor signal, potentially indicating a lack of immediate upside or a desire for diversification.

Risks

• No specific risks beyond the general market perception of insider selling are mentioned in this Form 4 filing.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Shares are held in trust by Jason M. Les, as Trustee of The Jason M. Les Trust dated March 8, 2021, representing indirect beneficial ownership.

Stakeholder Impact

• Shareholders: Provides transparency regarding insider stock transactions, specifically the CEO's sale of a portion of his holdings, which was pre-planned.

Key Dates

Keywords

Riot Platforms, RIOT, Jason Les, insider trading, Form 4, stock sale, 10b5-1 plan, CEO, Director