Form 4: Rush Street Interactive Chief Legal Officer Sells 35,000 Shares Under 10b5-1 Plan

Paul Wierbicki, Chief Legal Officer of Rush Street Interactive, sold 35,000 shares of Class A Common Stock at an average price of $11.2312 per share.

Summary

• Paul Wierbicki, the Chief Legal Officer of Rush Street Interactive, sold 35,000 shares of Class A Common Stock on November 11, 2024.
• The sale was executed under a pre-arranged 10b5-1 trading plan established on August 9, 2024.
• The shares were sold at a weighted average price of $11.2312, with individual transaction prices ranging from $11 to $11.505 per share.
• Following the transaction, Wierbicki directly owns 139,982 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of an insider stock sale under a pre-arranged plan, which is neither positive nor negative for the company's prospects.

Industry Context

This is a routine disclosure of an insider stock sale, which is common for executives of publicly traded companies. The use of a 10b5-1 plan indicates the sale was pre-planned and not based on any material non-public information.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice for executives at publicly traded companies like Rush Street Interactive to avoid accusations of insider trading.
• Similar filings are regularly made by executives at comparable companies such as DraftKings (DKNG) and Penn Entertainment (PENN) when they sell shares.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on investor sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates

Keywords

insider trading, stock sale, 10b5-1 plan, RSI, Rush Street Interactive, Class A Common Stock, Paul Wierbicki, Chief Legal Officer