Form 4: RSI CEO Schwartz Acquires 1.3M Shares via PSU Vesting

Rush Street Interactive CEO Richard Schwartz acquired 1,318,300 Class A Common Stock shares through the vesting of performance stock units, while also disposing of 576,959 shares for tax obligations.

Summary

• Richard Todd Schwartz, CEO and Director of Rush Street Interactive, Inc. (RSI), reported changes in his beneficial ownership of Class A Common Stock.
• On January 6, 2026, Schwartz acquired 1,318,300 shares of Class A Common Stock at a price of $19.77 per share.
• This acquisition resulted from the vesting and settlement of Performance Stock Units (PSUs) originally granted on March 15, 2023, which were subject to specific performance criteria.
• Concurrently, Schwartz disposed of 576,959 shares of Class A Common Stock at $19.77 per share to cover withholding taxes due upon the settlement of these PSUs.
• Following these transactions, Schwartz directly beneficially owns 1,196,162 shares of Class A Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as the vesting of PSUs indicates the achievement of performance criteria. However, the transaction is primarily a routine executive compensation event with a standard tax-related share disposition, making the overall sentiment neutral to mildly positive rather than strongly bullish or bearish.

Positives

• The vesting of 1,318,300 Performance Stock Units indicates that the company met certain performance criteria set when the PSUs were granted on March 15, 2023.
• The CEO's continued direct beneficial ownership of 1,196,162 shares aligns his interests with those of shareholders.

Negatives

• A significant number of shares (576,959) were disposed of to cover tax obligations, which reduces the CEO's direct ownership post-vesting.

Future Outlook

This filing is a report of past executive compensation events and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

The vesting of Performance Stock Units and subsequent tax-related share disposition is a standard practice in executive compensation across various industries, including the online gaming and sports betting sector where Rush Street Interactive operates. Such compensation structures are designed to align executive incentives with long-term company performance and shareholder value creation.

Comparison to Industry Standards

• The use of Performance Stock Units (PSUs) as a component of executive compensation is a common practice among publicly traded companies, including those in the technology and gaming sectors, such as DraftKings (DKNG) or FanDuel's parent company, Flutter Entertainment (FLTR.L).
• The disposition of shares to cover tax obligations upon the vesting of equity awards is a standard and expected procedure for executives receiving such compensation, consistent with practices observed at companies like MGM Resorts International (MGM) or Caesars Entertainment (CZR) for their executive equity plans.
• The reported transaction price of $19.77 per share reflects the market value at the time of the transaction, which is typical for such compensation events.

Stakeholder Impact

• Shareholders: The vesting of PSUs suggests that the company met performance targets, which could be viewed positively. The CEO's continued significant direct ownership aligns his interests with shareholders.

Key Dates

Keywords

Rush Street Interactive, RSI, Richard Todd Schwartz, CEO, Director, Form 4, Insider Transaction, Stock Acquisition, PSU Vesting, Executive Compensation, Class A Common Stock, Gaming Industry