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

Riot Platforms SVP, CAO Ryan D. Werner reported a sale of 25,375 shares of common stock, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Ryan D. Werner, SVP, CAO of Riot Platforms, Inc., sold 25,375 shares of common stock on June 22, 2026.
• The sale was conducted under a Rule 10b5-1 trading plan adopted on December 2, 2025.
• The shares were sold at a weighted average price of $30.00 per share, with individual transaction prices ranging from $30.00 to $30.01.
• Following the transaction, Werner beneficially owns 927,423 shares of common stock.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a neutral to slightly negative sentiment due to the insider sale, despite the transaction being executed under a pre-planned Rule 10b5-1 trading plan.

Negatives

• An executive of Riot Platforms sold a significant number of shares, which could be perceived negatively by the market.

Risks

• The sale of shares by a key executive could signal a lack of confidence in the company's short-term prospects, although it was executed under a pre-planned trading strategy.
• The weighted average sale price of $30.00 per share might indicate a point at which the executive believed the stock was fairly valued or overvalued.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding future company performance. It solely reports a past transaction.

Management Comments

• The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 2, 2025.
• The Reporting Person undertakes to provide, upon request by the SEC staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares and prices at which the transactions were effected.

Industry Context

StockSavvy.ai notes that insider sales, even under Rule 10b5-1 plans, are closely watched by investors. While these plans are designed to avoid accusations of insider trading by establishing a predetermined schedule or formula for sales, they can still influence market perception if the volume or timing appears significant relative to the executive's holdings or recent company news.

Stakeholder Impact

• Shareholders: May interpret the sale as a signal of executive confidence or lack thereof, potentially impacting short-term stock price. The sale under a 10b5-1 plan mitigates concerns about illegal insider trading.
• Employees: May observe executive actions as indicators of company health and future prospects.
• Management: The transaction is a standard reporting requirement for executives managing their personal investments.

Next Steps

• The Reporting Person may continue to sell shares under the Rule 10b5-1 plan if it remains active.
• The company may receive requests for further information regarding the transactions from the SEC staff, the Issuer, or security holders.

Key Dates

Keywords

Riot Platforms, RIOT, Form 4, Insider Trading, Rule 10b5-1, Stock Sale, Ryan D. Werner, Executive Compensation, Beneficial Ownership