Form 4: Riot Platforms SVP, CAO Sells Shares Under Pre-Arranged Trading Plan

Riot Platforms' Senior Vice President and Chief Accounting Officer, Ryan D. Werner, sold 3,747 shares of common stock for $11.88 per share on July 7, 2025, pursuant to a Rule 10b5-1 trading plan.

Summary

• Ryan D. Werner, SVP and Chief Accounting Officer of Riot Platforms, Inc. (RIOT), reported a sale of common stock.
• The transaction occurred on July 7, 2025.
• A total of 3,747 shares of common stock were disposed of at a price of $11.88 per share.
• Following this transaction, Ryan D. Werner beneficially owns 837,759 shares of Riot Platforms common stock.
• The sale was executed under a Rule 10b5-1 trading plan, which was adopted by the reporting person on December 13, 2024.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While an insider sale can sometimes be perceived negatively, the disclosure that it was conducted under a pre-arranged Rule 10b5-1 trading plan mitigates concerns about opportunistic selling, indicating a routine portfolio management activity.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned disposition rather than a reaction to recent non-public information.

Negatives

• An insider sale, even under a 10b5-1 plan, reduces the insider's direct equity stake in the company.

Future Outlook

No specific future outlook or guidance is provided in this Form 4 filing, as it primarily reports a past insider transaction.

Management Comments

• The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024.

Industry Context

This Form 4 filing reports a routine insider stock transaction, which is common practice for executives managing their personal portfolios. It does not inherently reflect broader industry trends or competitive dynamics, but rather an individual's pre-planned equity management.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: A minor reduction in insider ownership, but the 10b5-1 plan suggests it is not based on new negative information. The impact is generally minimal for such a small percentage of total shares outstanding.

Key Dates

Keywords

Riot Platforms, RIOT, Form 4, insider trading, stock sale, Ryan Werner, 10b5-1 plan, common stock, officer transaction