Form 4: RSI CEO's Shares Withheld for Tax Obligations

Rush Street Interactive CEO Richard Todd Schwartz had 55,514 shares withheld to cover tax obligations related to restricted stock unit vesting.

Summary

• Richard Todd Schwartz, CEO and Director of Rush Street Interactive, Inc. (RSI), reported a transaction on September 29, 2025.
• The transaction involved the disposition of 55,514 shares of Class A Common Stock.
• These shares were withheld by the Issuer to satisfy income tax withholding and remittance obligations in connection with the vesting and net settlement of previously disclosed restricted stock units.
• The transaction was executed at a price of $21.72 per share.
• Following this transaction, Richard Todd Schwartz beneficially owns 768,052 shares of Class A Common Stock directly.
• The filing indicates the transaction was made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c) conditions.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive. While shares were 'disposed of,' this was a non-discretionary tax withholding following the vesting of RSUs, which is a positive event for the executive. It does not indicate a lack of confidence or a voluntary sale.

Positives

• The underlying restricted stock units (RSUs) vested, indicating a milestone achievement for the executive's compensation plan.
• The transaction is a non-discretionary withholding for tax purposes, not a voluntary sale by the CEO, which typically signals confidence in the company.

Negatives

• The number of shares directly owned by the CEO decreased by 55,514 due to the tax withholding.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This is a routine insider transaction related to executive compensation and does not provide specific insights into broader industry trends or competitive positioning. Such tax-related withholdings are common practice across publicly traded companies when restricted stock units vest.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes and not a voluntary sale by the CEO. It does not signal a change in management's view of the company's prospects.
• Employees: No direct impact mentioned.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary transaction where shares were withheld to cover tax liabilities upon the vesting of restricted stock units. It does not reflect a voluntary sale by the CEO or provide new information that would alter the fundamental investment thesis for Rush Street Interactive. Therefore, a 'hold' recommendation is appropriate as this event does not warrant a change in investment strategy.

Keywords

Rush Street Interactive, RSI, Richard Todd Schwartz, Form 4, Insider Transaction, Stock Withholding, Restricted Stock Units, Executive Compensation, Tax Obligations, Corporate Governance