Form 4: Rush Street Interactive CEO Richard Schwartz Sells Shares Under 10b5-1 Plan
SEC Form 4
Richard Todd Schwartz, CEO of Rush Street Interactive, sold a portion of his Class A Common Stock holdings on May 8th and 9th, 2025, under a pre-arranged 10b5-1 trading plan.
Summary
- Richard Todd Schwartz, the CEO of Rush Street Interactive, sold shares of Class A Common Stock on May 8th and May 9th, 2025.
- The sales were executed under a pre-arranged 10b5-1 trading plan established on August 16, 2024.
- On May 8th, 106,952 shares were sold at a weighted average price of $11.8575, with individual prices ranging from $11.52 to $12.05.
- On May 9th, 86,953 shares were sold at a weighted average price of $11.7152, with individual prices ranging from $11.518 to $11.88.
- Following these transactions, Schwartz directly owns 1,405,281 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting stock sales by an executive. It doesn't inherently convey positive or negative sentiment, but the market's reaction to the news could vary.
Risks
- Executive stock sales can sometimes be perceived negatively by investors, potentially impacting stock price, although sales under a 10b5-1 plan are generally viewed as less concerning.
Future Outlook
The document does not contain any specific forward-looking statements regarding the company's future performance.
Industry Context
Executive stock sales are a common occurrence in publicly traded companies. The use of a 10b5-1 plan allows executives to sell shares in a predetermined manner, avoiding accusations of insider trading. Investors often monitor these transactions for insights into management's perspective on the company's valuation and future prospects.
Stakeholder Impact
- Shareholders may react to the news of the CEO selling shares, although the existence of a 10b5-1 plan may mitigate concerns.
Key Dates
| Date | Description |
|---|---|
| 08/16/2024 | Date of 10b5-1 Plan |
| 05/08/2025 | Date of first stock sale |
| 05/09/2025 | Date of second stock sale |
Keywords
Rush Street Interactive, RSI, Richard Schwartz, stock sale, Form 4, 10b5-1 plan, Class A Common Stock, executive compensation
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