[Form 4] Riot Platforms, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Riot Platforms, Inc. director and senior finance officer Ryan D. Werner reported the sale of 14,984 shares of common stock on 10/10/2025 at $23 per share. The filing shows 822,775 shares remained beneficially owned after the transaction. The report notes the sales were made under a Rule 10b5-1 trading plan adopted on 12/13/2024, indicating the transactions followed a pre-established plan rather than ad hoc decisions. The filing was submitted by an attorney-in-fact on behalf of the reporting person.

Positive

• Transaction executed under a Rule 10b5-1 plan adopted on 12/13/2024, which provides pre-established trading parameters
• Significant retained ownership after the sale: 822,775 shares remain beneficially owned

Negative

• Insider sold shares: 14,984 shares were disposed of on 10/10/2025 at $23, which may be viewed negatively by some investors

Insights

Corporate Governance Analyst

Insider sold a small portion of holdings under a 10b5-1 plan; ownership remains large.

The sale of 14,984 shares at $23 reduced holdings to 822,775 shares, which remains a sizable beneficial position. Executing the trades under a Rule 10b5-1 plan adopted on 12/13/2024 signals pre-planned dispositions which can limit concerns about opportunistic timing.

Risks include market perception of insider sales even when pre-planned; monitor future Form 4 filings for additional scheduled or unscheduled activity over the next 12 months to gauge ongoing insider selling trends.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Werner Ryan D.

(Last) (First) (Middle)

C/O RIOT PLATFORMS, INC.

3855 AMBROSIA STREET, SUITE 301

(Street)

CASTLE ROCK CO 80109

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Riot Platforms, Inc. [ RIOT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, CAO

3. Date of Earliest Transaction (Month/Day/Year)
10/10/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/10/2025		S(1)		14,984	D	$23	822,775	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 13, 2024.

	/s/ Tanya McGill, Attorney-in-Fact for Ryan D. Werner	10/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Ryan D. Werner report in the Form 4 for RIOT?

The filing reports a sale of 14,984 shares on 10/10/2025 at $23, leaving 822,775 shares beneficially owned.

Was the sale part of a trading plan for RIOT insider Ryan D. Werner?

Yes. The Form 4 states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on 12/13/2024.

How many shares did Ryan D. Werner own after the reported transaction?

Following the reported sale, the Form 4 shows 822,775 shares beneficially owned.

What price was reported for the RIOT shares sold?

The shares were reported sold at $23 per share on 10/10/2025.

Who signed the Form 4 for Ryan D. Werner?

The Form 4 was signed by Tanya McGill, Attorney-in-Fact on 10/10/2025 on behalf of Ryan D. Werner.