Form 4: Rush Street Interactive CEO Richard Schwartz Sells Shares to Cover Tax Obligations

Richard Todd Schwartz, CEO of Rush Street Interactive, sold 221,500 shares of Class A Common Stock on March 26, 2025, to cover income tax obligations related to vesting restricted stock units.

Summary

• Richard Todd Schwartz, the CEO of Rush Street Interactive, filed a Form 4 on March 28, 2025, reporting a transaction that occurred on March 26, 2025.
• The transaction involved the disposition of 221,500 shares of Class A Common Stock at a price of $11.22 per share.
• These shares were withheld by Rush Street Interactive to satisfy income tax withholding and remittance obligations associated with the vesting and net settlement of Schwartz's previously disclosed restricted stock units.
• Following the transaction, Schwartz beneficially owns 1,793,091 shares of Class A Common Stock directly.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transaction is a routine sale of shares to cover tax obligations, which is a common practice among executives. It doesn't necessarily reflect a positive or negative outlook on the company's future performance.

Industry Context

Insider transactions are routinely monitored and reported to the SEC. Sales to cover tax obligations are common and don't necessarily indicate a negative outlook on the company.

Key Dates

Keywords

Form 4, Insider Trading, Richard Schwartz, Rush Street Interactive, RSI, Class A Common Stock, Tax Withholding, Restricted Stock Units, CEO