SCHEDULE: Rush Street Interactive Stakeholder Ownership Update

An amendment to Schedule 13D details the beneficial ownership of Rush Street Interactive, Inc. Class A Common Stock by key individuals and trusts, including recent share transactions.

Summary

• This filing is an amendment to a Schedule 13D, reporting changes in beneficial ownership of Rush Street Interactive, Inc. Class A Common Stock.
• The reporting persons include Neil G. Bluhm, NGB 2016 Revocable Trust, NGB 2013 Grandchildren's Dynasty Trust, Rush Street Interactive GP, LLC, and Richard Schwartz.
• The total beneficial ownership reported by Neil G. Bluhm and associated entities is 100,085,274 shares, representing 46.5% of the class on an as-diluted basis.
• Richard Schwartz directly beneficially owns 7,292,836 shares, representing 5.9% of the class on an as-diluted basis.
• The filing clarifies that the percentage of class is calculated on an as-diluted basis, including shares issuable upon conversion of RSILP Units and stock options.
• Recent transactions include Richard Schwartz selling shares on July 1, 2026, and August 3, 2026, pursuant to a 10b5-1 plan.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, reflecting ongoing ownership adjustments and reporting of beneficial interest rather than a significant change in strategy or performance.

Positives

• The filing provides clarity on the beneficial ownership structure and holdings of key stakeholders.
• The reporting of ownership on an as-diluted basis offers a more comprehensive view of potential voting power.
• The use of 10b5-1 plans by Richard Schwartz indicates a structured approach to managing share sales.

Negatives

• The filing details significant share sales by Richard Schwartz, which could be perceived negatively by the market if not managed within a pre-defined plan.
• The substantial aggregate ownership by a few key individuals and entities could limit the free float and potentially impact stock liquidity.

Risks

• Concentration of ownership among a few reporting persons could lead to potential conflicts of interest or influence over corporate decisions.
• Future sales by these large stakeholders, even if executed through 10b5-1 plans, could exert downward pressure on the stock price.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding future financial performance. It primarily focuses on current ownership and recent transactions.

Management Comments

• The reporting persons declare that filing this statement shall not be deemed an admission that they are the beneficial owners of the reported securities for purposes of Section 13(d) and/or Section 13(g) or for any other purpose.

Industry Context

StockSavvy.ai notes that Schedule 13D filings are common in the gaming and technology sectors, often indicating significant stakes held by founders, early investors, or private equity firms. The focus on RSILP Units and stock options is typical for companies with complex capital structures.

Related Party Transactions

• The filing notes that Neil G. Bluhm, through his control of over 81% of the units of Rush Street Interactive GP, possesses the ability to appoint managers to its board, potentially indicating indirect beneficial ownership of shares held by the GP.

Stakeholder Impact

• Shareholders: The significant ownership concentration and recent sales by Richard Schwartz may influence market perception and stock price volatility.
• Management: The filing clarifies the control and influence of key individuals, impacting corporate governance dynamics.
• Creditors: No direct impact on creditors is indicated by this ownership filing.

Next Steps

• Continued monitoring of beneficial ownership changes by the reporting persons.
• Observation of any further share transactions by Neil G. Bluhm, Richard Schwartz, or associated entities.

Key Dates

Recommendation

The filing primarily serves as an update on beneficial ownership and recent transactions by major stakeholders. While it clarifies ownership structure and includes some share sales, it does not present new strategic information, significant financial performance changes, or material events that would warrant a buy or sell recommendation. Therefore, a 'hold' position is appropriate pending further developments.

Keywords

Rush Street Interactive, Schedule 13D, Beneficial Ownership, Class A Common Stock, Neil G. Bluhm, Richard Schwartz, RSILP Units, Stock Options