Riot Platforms insider trade: 3,747 shares sold, 837k retained

Rhea-AI Filing Summary

Riot Platforms, Inc. (RIOT) filed a Form 4 on 9 July 2025 disclosing an insider transaction by Ryan D. Werner, the company’s Senior Vice President & Chief Accounting Officer. On 7 July 2025, Werner sold 3,747 common shares at an average price of $11.88 per share, generating roughly $44,500 in gross proceeds.

The sale was executed under a Rule 10b5-1 trading plan that Werner adopted on 13 December 2024, indicating the transaction was pre-arranged rather than opportunistic. After the sale, Werner continues to own 837,759 RIOT shares directly. The divestiture represents approximately 0.45 % of his pre-trade holdings and no derivative securities were reported.

Because the transaction is small relative to Werner’s remaining stake and carried out under a trading plan, the filing carries limited fundamental signal for investors, though it does slightly increase the public float.

Positive

• Insider retains 837,759 shares, signifying continued long-term alignment with shareholder interests.
• Transaction occurred under a Rule 10b5-1 plan, reducing concerns about opportunistic selling.

Negative

• An executive insider sold 3,747 shares, which can be interpreted as modest profit-taking.

Insights

Financial Analyst

TL;DR: Small, pre-planned insider sale; largely immaterial, neutral signal.

The Form 4 shows Werner sold 3,747 shares—less than 0.5 % of his position—for ~$44k. The sale was executed under a Rule 10b5-1 plan, mitigating concerns about adverse timing or insider sentiment. His remaining 837,759-share stake keeps his financial interests aligned with shareholders. No derivative activity or additional sales are disclosed. Given the modest size and planned nature, I view the news as neutral for RIOT’s valuation and risk profile.

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^*

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)
07/07/2025

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	07/07/2025		S(1)		3,747	D	$11.88	837,759	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 Werner	07/09/2025
	** 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 RIOT shares did insider Ryan Werner sell?

Werner sold 3,747 common shares of Riot Platforms.

What was the sale price of the RIOT shares?

The shares were sold at an average price of $11.88 each.

When did the RIOT insider transaction occur?

The transaction took place on 07/07/2025 and was reported on 07/09/2025.

Was the sale made under a 10b5-1 trading plan?

Yes. The filing states the sale was made under a Rule 10b5-1 plan adopted on 12/13/2024.

How many RIOT shares does Werner still own after the sale?

He directly owns 837,759 shares following the transaction.

What percentage of Werner’s holdings was sold?

The sale represented roughly 0.45 % of his pre-transaction holdings.