Form 4: RSI CEO Richard Schwartz Executes Stock Sale Plan

Rush Street Interactive CEO Richard Todd Schwartz sold 158,334 shares of Class A Common Stock via a pre-arranged 10b5-1 trading plan.

Summary

• CEO Richard Todd Schwartz converted 158,334 Class A Common Units of Rush Street Interactive, L.P. into Class A Common Stock.
• Simultaneously, an equivalent number of Class V Voting Stock shares were canceled as part of the exchange process.
• The CEO sold the resulting 158,334 shares of Class A Common Stock at a weighted average price of $25.5776 per share.
• The transactions were executed on June 1, 2026, pursuant to a Rule 10b5-1 trading plan.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event; while insider selling can be perceived negatively, the use of a pre-planned 10b5-1 structure is a standard, non-discretionary compliance measure.

Positives

• Transactions were conducted under a pre-established 10b5-1 plan, indicating the sales were scheduled in advance rather than reactive to immediate market conditions.

Negatives

• The sale represents a significant divestment of equity by the Chief Executive Officer.

Risks

• Potential for negative market sentiment regarding insider selling by top leadership.

Future Outlook

No specific forward-looking guidance regarding company operations was provided in this filing.

Industry Context

StockSavvy.ai notes that insider selling via 10b5-1 plans is a standard practice for executives to manage personal liquidity and diversification, and is generally viewed as less indicative of negative sentiment than unscheduled open-market sales.

Comparison to Industry Standards

• The use of 10b5-1 plans is the industry standard for corporate executives to avoid allegations of insider trading while liquidating equity positions.

Related Party Transactions

• The reporting person utilized affiliated trusts to hold and exchange RSI units.

Stakeholder Impact

• Shareholders should note the reduction in the CEO's direct and indirect beneficial ownership.

Next Steps

• Continued monitoring of future Form 4 filings for further insider activity.

Key Dates

Keywords

Rush Street Interactive, RSI, Insider Trading, Form 4, Richard Todd Schwartz, 10b5-1, Equity Sale