Form 4: Rush Street Interactive CIO Sells $872,830 in Class A Common Stock Under Pre-Arranged Plan

Rush Street Interactive's Chief Information Officer, Einar Roosileht, sold 70,000 shares of Class A Common Stock for approximately $872,830 on June 2, 2025, following an exchange of partnership units, as disclosed in a recent Form 4 filing.

Summary

• On June 2, 2025, Einar Roosileht, Chief Information Officer of Rush Street Interactive, Inc. (RSI), exchanged 70,000 Class A Common Stock Units of Rush Street Interactive, L.P. (RSI Units) for 70,000 shares of Rush Street Interactive, Inc. Class A Common Stock.
• Concurrently with the exchange, 70,000 shares of Class V Voting Stock held by Mr. Roosileht were canceled, as these shares provide no economic rights but confer voting power equivalent to the number of shares held.
• Immediately following the exchange, Mr. Roosileht sold all 70,000 newly acquired Class A Common Stock shares.
• The shares were sold at a weighted average price of $12.469 per share, resulting in total proceeds of approximately $872,830.
• This sale was conducted pursuant to a pre-arranged 10b5-1 trading plan that was established on September 27, 2024.
• The filing also corrected an inadvertent overstatement of 70,000 Class V Voting Stock and RSI Units in a previous Form 4 filed by Mr. Roosileht on May 5, 2025, updating his total beneficial ownership figures.

Sentiment

Score: 5

Explanation: The filing reports a routine insider stock sale executed under a pre-arranged 10b5-1 plan, which is generally considered neutral as it's not indicative of new positive or negative company developments. The correction of a previous filing error is a minor administrative detail.

Positives

• The sale was executed under a pre-arranged 10b5-1 trading plan, which indicates a scheduled transaction rather than a reaction to new negative company developments, promoting transparency and mitigating concerns about insider trading.

Negatives

• Insider selling, even under a 10b5-1 plan, can sometimes be perceived negatively by the market, potentially signaling a lack of confidence, although this is often mitigated by the pre-planned nature.
• A previous Form 4 filed on May 5, 2025, contained an inadvertent overstatement of Class V Voting Stock and RSI Units by 70,000, requiring a correction in this filing.

Future Outlook

NA

Management Comments

• The reporting person exchanged 70,000 Class A Common Stock Units for 70,000 shares of Class A Common Stock, with an equivalent number of Class V Voting Stock shares being canceled.
• The shares of Class V Voting Stock provide no economic rights but entitle the holder to votes equal to the number of shares held.
• A previous Form 4 filed on May 5, 2025, inadvertently overstated the reporting person's Class V Voting Stock and RSI Units by 70,000, which has been corrected in this filing.
• The reported sale of shares was executed pursuant to a 10b5-1 Plan dated September 27, 2024.
• The weighted average sale price of $12.469 per share represents multiple transactions ranging from $12.325 to $12.635.

Industry Context

This Form 4 filing details an insider transaction specific to Rush Street Interactive, Inc. and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: May experience minor sentiment shifts due to insider selling, though the 10b5-1 plan mitigates concerns about opportunistic trading. The correction of previous filing errors enhances data accuracy for investors.
• Employees, Customers, Suppliers, Creditors: No direct impact from this insider transaction report.

Next Steps

• The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the reported range.

Key Dates

Recommendation

Keywords

Rush Street Interactive, RSI, Form 4, Insider Trading, Stock Sale, Einar Roosileht, Chief Information Officer, 10b5-1 Plan, Class A Common Stock, Class V Voting Stock, Equity Exchange, Beneficial Ownership