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

Rhea-AI Filing Summary

Form 4 Overview – Veeva Systems Inc. (VEEV)

Chief Accounting Officer Kristine Diamond reported two transactions dated July 1, 2025:

• 218 Class A common shares acquired through the automatic conversion (Code M) of vested Restricted Stock Units (RSUs) at a stated price of $0.
• 79 shares withheld (Code F) by the issuer at $282.90 per share to cover tax obligations arising from the same RSU vesting event. This was not an open-market sale.

After these transactions, Diamond directly owns 1,003 Class A shares and retains 654 unvested RSUs under the Amended & Restated 2013 Equity Incentive Plan. The RSUs vest 25% on July 1 2025 and quarterly thereafter, contingent on continued employment.

No open-market purchases or sales occurred, and the net increase in directly held shares is +139. The filing is exempt from Section 16(b) short-swing profit rules under Rules 16b-3 and 16b-6.

Insights

Securities Analyst

TL;DR: Routine RSU vesting; minor net share increase; no market transaction—neutral for valuation.

The filing documents standard compensation-related equity activity. The RSU conversion adds 218 shares but 79 are withheld for taxes, yielding a modest 139-share net increase for the insider. With a current float of roughly 160 million shares, the dollar value is immaterial and does not signal directional sentiment. The remaining 654 RSUs reflect ongoing retention incentives but introduce no new dilution beyond existing plan limits. Overall, this event does not affect fundamentals, guidance, or liquidity and is therefore not impactful for investors.

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).

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^*

Les Jason

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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	07/01/2025		F		101,610(1)	D	$11.27	7,253,244	D
Common Stock								1,019,911	I	See Footnote(2)

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. Represents shares withheld by the Issuer to satisfy tax withholding requirements upon vesting of restricted shares of the Issuer's common stock.

2. Shares held in trust by Jason M. Les, Trustee of The Jason M. Les Trust, dated March 8, 2021.

	/s/ Tanya McGill, Attorney-in-Fact for Jason Les	07/02/2025
	** 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

How many VEEV shares did Kristine Diamond acquire on July 1, 2025?

She acquired 218 Class A shares via RSU conversion.

Were any Veeva Systems shares sold on the open market?

No. The 79 shares shown were withheld for taxes; they were not market sales.

What is the post-transaction shareholding of the insider?

Kristine Diamond now directly owns 1,003 shares and holds 654 unvested RSUs.

What price was used for the tax-withheld shares?

The issuer valued the withheld shares at $282.90 each.

When will the remaining RSUs vest?

25% vested on July 1 2025; the balance vests quarterly over the next year, subject to continued service.