RSI Insider Sale Notice: Richard Schwartz Plans $2.85M Share Sale

Rhea-AI Filing Summary

Rush Street Interactive, Inc. Form 144 notice shows a proposed sale of 136,738 common shares valued at $2,854,597.00 to be executed on 09/08/2025 through Merrill Lynch on the NYSE. The filing states these shares were acquired the same day as units converted to shares from Richard Schwartz and payment was in cash. The filer reports total shares outstanding of 94,555,182, and the document also lists five prior sales by Richard Schwartz between 06/09/2025 and 08/11/2025 totaling several large dispositions with gross proceeds shown for each sale.

Positive

• Compliance: Form 144 properly discloses proposed insider sale details including broker, sale date, acquisition method, and payment
• Transparency: Prior insider sales from June–August 2025 are listed with amounts and gross proceeds

Negative

• Insider selling activity: Multiple recent sales by Richard Schwartz, including large dispositions, could increase share supply
• Concentration risk: The filing shows significant insider liquidity actions without accompanying operational disclosures in this document

Insights

Securities Analyst

TL;DR: Insider plans a modest block sale; prior large disposals are disclosed, suggesting continuing insider liquidity rather than company operational news.

The Form 144 indicates a proposed sale of 136,738 common shares worth $2.85 million on 09/08/2025 via Merrill Lynch. The shares were recorded as units converted to shares from Richard Schwartz and paid in cash the same day. The filing provides a recent history of material insider sales across June–August 2025 with specific amounts and gross proceeds, which is important for investors monitoring insider liquidity and potential selling pressure. This disclosure is procedural and does not convey operational or financial results.

Corporate Governance Expert

TL;DR: Proper Rule 144 disclosure filed; multiple recent insider sales are notable for governance and shareholder signaling.

The notice fulfills Rule 144 reporting by identifying the broker, sale date, class, acquisition date, and payment method. It documents conversion of units to shares on 09/08/2025 and lists five prior sales by Richard Schwartz with dates and proceeds, demonstrating transparency about insider transactions. While compliance is evident, the pattern of recurring sales by the same person is a governance datapoint stakeholders may track for signaling and share supply effects.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
common	Merrill Lynch, Pierce, Fenner & Smith Inc. 1 Town Center Road, 9th Floor Boca Raton FL 33486	136738	2854597.00	94555182	09/08/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
common	09/08/2025	units converted to shares	Richard Schwartz			136738	09/08/2025	cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Richard Schwartz 900 N. MICHIGAN AVENUE, SUITE 950 Chicago IL 60611	common	08/11/2025	1861900	100000.00
Richard Schwartz 900 N. MICHIGAN AVENUE, SUITE 950 Chicago IL 60611	common	08/08/2025	93905	1752906.00
Richard Schwartz 900 N. MICHIGAN AVENUE, SUITE 950 Chicago IL 60611	common	07/08/2025	193905	2984198.00
Richard Schwartz 900 N. MICHIGAN AVENUE, SUITE 950 Chicago IL 60611	common	06/10/2025	70000	957159.00
Richard Schwartz 900 N. MICHIGAN AVENUE, SUITE 950, Chicago IL 60611	common	06/09/2025	123905	1682258.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Rush Street Interactive (RSI) Form 144 filed on 09/08/2025 report?

The form reports a proposed sale of 136,738 common shares valued at $2,854,597.00 to be sold on 09/08/2025 through Merrill Lynch on the NYSE.

Who is the seller named in the RSI Form 144 filing?

The filing identifies Richard Schwartz as the person associated with the shares; the acquisition is listed as units converted to shares on 09/08/2025.

How many shares outstanding does RSI show in the filing?

The filing lists 94,555,182 shares outstanding for the class of common stock.

Were there prior insider sales by the same person?

Yes. The form lists five sales by Richard Schwartz between 06/09/2025 and 08/11/2025 with specific amounts and gross proceeds for each.

Through which broker will the 09/08/2025 sale be executed?

The sale is to be executed through Merrill Lynch, Pierce, Fenner & Smith Inc. (address listed in the filing) on the NYSE.