Form 4: RSI CEO Sells Over 247K Shares Under 10b5-1 Plan

Rush Street Interactive CEO Richard Todd Schwartz reported the sale of 247,114 Class A Common Stock shares under a 10b5-1 plan.

Summary

• Richard Todd Schwartz, Chief Executive Officer and Director of Rush Street Interactive, Inc. (RSI), filed a Form 4.
• The filing reports the sale of 247,114 shares of Class A Common Stock.
• The transaction occurred on February 17, 2026.
• The shares were sold at a weighted average price of $16.8151 per share, with individual transaction prices ranging from $16.09 to $17.06.
• This sale was conducted pursuant to a Rule 10b5-1 trading plan.
• Following this transaction, Schwartz directly beneficially owns 701,934 shares of Class A Common Stock.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a moderately negative signal due to the significant insider sale by the CEO, which could be interpreted as a lack of strong conviction in the company's near-term stock performance, despite being executed under a 10b5-1 plan.

Positives

• The sale was conducted under a Rule 10b5-1 plan, indicating a pre-arranged, non-discretionary transaction designed to avoid accusations of insider trading.

Negatives

• A significant sale of 247,114 shares by the CEO has occurred, which could be perceived negatively by investors, potentially signaling a lack of confidence or a desire to diversify holdings.
• The sale represents a reduction in the CEO's direct beneficial ownership from an implied 949,048 shares (701,934 + 247,114) to 701,934 shares.

Risks

• Investor perception risk: Large insider sales, even under 10b5-1 plans, can sometimes lead to negative market sentiment or speculation about the company's future prospects.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transactions, particularly by top executives, are closely watched in the online gaming and sports betting industry, which is highly competitive and sensitive to market sentiment. While 10b5-1 plans are common for executives to manage personal finances, significant sales can still influence investor perception regarding the company's near-term prospects.

Related Party Transactions

• Richard Todd Schwartz, CEO and Director, sold 247,114 shares of Class A Common Stock on February 17, 2026, as disclosed in this insider transaction.

Stakeholder Impact

• Shareholders: May interpret the CEO's sale as a negative signal, potentially leading to downward pressure on the stock price.

Key Dates

Recommendation

A sale of over 247,000 shares by the CEO, even under a 10b5-1 plan, typically signals that the insider believes the current valuation is attractive for selling or that personal diversification is prioritized over maintaining a higher stake. This action, especially from a top executive, can be perceived by the market as a lack of strong conviction in significant near-term upside, prompting a cautious or negative re-evaluation of the stock.

Keywords

Rush Street Interactive, RSI, Richard Todd Schwartz, CEO, Insider Sale, Form 4, 10b5-1 Plan, Stock Sale, Equity Transaction, Gaming Industry