Form 4: RSI CEO Sells Shares Under Pre-Arranged 10b5-1 Plan

Rush Street Interactive CEO Richard Todd Schwartz sold over 193,000 shares of Class A Common Stock in early October 2025 under a pre-arranged 10b5-1 trading plan.

Summary

• Richard Todd Schwartz, CEO and Director of Rush Street Interactive, Inc. (RSI), reported sales of Class A Common Stock.
• On October 8, 2025, 96,918 shares were sold at a weighted average price of $18.2019 per share, with prices ranging from $17.92 to $18.32.
• On October 9, 2025, an additional 96,987 shares were sold at a weighted average price of $18.7879 per share, with prices ranging from $18.25 to $19.063.
• These transactions were executed pursuant to a Rule 10b5-1 trading plan established on August 16, 2024.
• Following these transactions, Richard Todd Schwartz beneficially owns 574,147 shares of Class A Common Stock directly.

Sentiment

Score: 5

Explanation: The filing reports pre-scheduled insider sales under a 10b5-1 plan, which is a neutral event as it reflects planned personal financial management rather than an immediate change in company outlook or performance.

Industry Context

Insider transactions, particularly those executed under a pre-arranged 10b5-1 plan, are a common occurrence across all industries. These plans allow executives to sell shares over time to diversify their holdings or for personal liquidity needs, while avoiding accusations of trading on material non-public information.

Stakeholder Impact

• Potential minor impact on investor sentiment due to the sale of shares by a key executive, though mitigated by the pre-arranged 10b5-1 plan, which indicates the sales were not based on recent non-public information.

Key Dates

Recommendation

The filing reports pre-scheduled insider sales by the CEO under a 10b5-1 plan, which is a common practice for executives to manage personal finances and diversify holdings. While insider sales can sometimes be viewed negatively, these transactions were planned well in advance and do not necessarily reflect a change in management's outlook on the company's future performance. Therefore, the filing itself does not provide sufficient new information to alter a fundamental investment thesis, warranting a 'hold' recommendation.

Keywords

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