Form 4: Rush Street Interactive Chief Legal Officer Receives Stock Options and Restricted Stock Units

Paul Wierbicki, Chief Legal Officer of Rush Street Interactive, reports the acquisition of stock options and restricted stock units, as well as shares withheld for tax obligations.

Summary

• On March 14, 2025, Paul Wierbicki, Chief Legal Officer of Rush Street Interactive, was granted 15,321 restricted stock units (RSUs) and 20,777 stock options under the company's 2020 Omnibus Equity Incentive Plan.
• The RSUs and options vest in three equal annual installments starting on the first anniversary of the grant date, contingent upon continued service.
• On March 17, 2025, 28,003 shares were withheld by Rush Street Interactive at a price of $10.7 to cover income tax obligations related to the vesting of previously disclosed RSUs.
• Following these transactions, Wierbicki directly owns 126,705 shares of Class A Common Stock and 20,777 stock options.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, indicating a stable and incentivized management structure. The sentiment is neutral to positive.

Positives

• The grant of RSUs and stock options aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages continued service and commitment from the Chief Legal Officer.

Future Outlook

The RSUs and stock options vest over the next three years, subject to continued service.

Industry Context

Stock option and RSU grants are a common practice in the industry to incentivize and retain key executives.

Comparison to Industry Standards

• Equity compensation packages for Chief Legal Officers at publicly traded companies in the gaming and interactive entertainment industry typically include a mix of stock options, restricted stock units, and performance-based incentives.
• The vesting schedules are generally structured to align with long-term company performance and retention goals, often spanning three to five years.
• Comparable companies such as DraftKings, Penn National Gaming, and Flutter Entertainment also utilize similar equity compensation strategies for their executive teams.

Stakeholder Impact

• Shareholders may view the equity grants as a positive sign, aligning management's interests with long-term value creation.
• Employees may see the grants as a sign of confidence in the company's future prospects.

Key Dates