Form 4: Rush Street Interactive CEO Sells Over 193,000 Shares Under Pre-Arranged 10b5-1 Plan

Richard Todd Schwartz, Chief Executive Officer and Director of Rush Street Interactive, Inc. (RSI), sold 193,905 shares of Class A Common Stock for a weighted average price of $15.3898 per share, as part of a pre-established 10b5-1 trading plan.

Summary

• Richard Todd Schwartz, the Chief Executive Officer and a Director of Rush Street Interactive, Inc. (RSI), executed a sale of 193,905 shares of the company's Class A Common Stock.
• The transaction occurred on July 8, 2025.
• The shares were sold at a weighted average price of $15.3898 per share, with individual transaction prices ranging from $15.14 to $15.60.
• This sale was conducted pursuant to a Rule 10b5-1 trading plan, which was established on August 16, 2024.
• Following this reported transaction, Richard Todd Schwartz directly beneficially owns 1,017,471 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While a large insider sale can be perceived negatively, the fact that it was conducted under a pre-arranged 10b5-1 plan mitigates concerns that it is based on new, negative material information. It is likely a planned liquidity or diversification event.

Positives

• The sale was executed under a pre-arranged Rule 10b5-1 trading plan, which indicates a planned liquidity event rather than a reactive sale based on new material non-public information.

Negatives

• A significant reduction in direct beneficial ownership by a key executive (CEO and Director) through the sale of 193,905 shares.
• The sale represents a decrease in insider alignment with shareholder interests, although mitigated by the 10b5-1 plan.

Risks

• Potential for negative investor perception or market reaction to a large insider share sale, even if pre-planned, as it reduces the CEO's direct stake in the company.
• The sale could be misinterpreted by some investors as a lack of confidence, despite the 10b5-1 plan.

Future Outlook

N/A

Management Comments

• Shares were sold pursuant to a 10b5-1 Plan dated August 16, 2024.
• The reported price in Column 4 is a weighted average sale price, with these shares sold in multiple transactions at prices ranging from $15.14 to $15.60 per share.

Industry Context

N/A

Stakeholder Impact

• Shareholders: May observe a reduction in direct insider ownership, which could influence sentiment, though the 10b5-1 plan context provides a mitigating explanation.

Key Dates

Recommendation

Keywords

Rush Street Interactive, RSI, Richard Todd Schwartz, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, CEO, Gaming, Online Casino, Sports Betting