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  4. [Form 4] Rush Street Interactive, Inc. Insider Trading Activity

Rush Street Interactive CFO reports RSU withholding and 10b5-1 sale

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Rush Street Interactive insider transactions by CFO Kyle Sauers: The Form 4 shows the CFO disposed of shares of Class A common stock in two reported transactions. A block of 19,725 shares was withheld by the company to satisfy tax withholding related to vested restricted stock units and is explicitly noted as not a sale. A separate sale of 15,038 shares was executed under an existing 10b5-1 trading plan. After these transactions the reporting person beneficially owned 418,651 shares directly and 4,700 shares indirectly through a child. The reported sale prices were $21.72 (withholding valuation) and $22.34 (10b5-1 sale).

Positive

  • Clear disclosure separating tax-withheld RSU shares from market sales
  • Use of a 10b5-1 plan indicates pre-arranged, rule-compliant selling activity
  • Detailed post-transaction ownership provided, including direct and indirect holdings

Negative

  • Reduction in direct holdings by 34,763 shares following withholding and sale
  • Material sale amount (15,038 shares) could be perceived negatively by some investors

Insights

TL;DR: Insider sold a modest portion of holdings under a pre-established plan; tax-related withholding reduced share count but was not a market sale.

The transactions reduce the CFO's direct stake by 34,763 shares in total, reflecting routine post-vesting tax withholding and a programmed sale under a 10b5-1 plan. The sale price of $22.34 provides a concrete realized price for that tranche; withheld shares were valued at $21.72 for tax remittance and are not market dispositions. For investors this is a routine insider liquidity event rather than an ad hoc disposition, given the documented 10b5-1 plan and the explicit withholding explanation.

TL;DR: Disclosure is clear and follows standard governance practices by identifying tax withholding and the pre-arranged 10b5-1 sale.

The filing differentiates between withheld shares for tax obligations and shares sold under a dated 10b5-1 plan, which supports compliance with insider trading policies. The reporting as a single reporting person and the inclusion of indirect holdings (through a child) enhance transparency. No indications of unusual or unexplained trading activity are present in the document.

Insider Sauers Kyle
Role Chief Financial Officer
Sold 15,038 shs ($336K)
Type Security Shares Price Value
Sale Class A Common Stock 15,038 $22.34 $336K
Tax Withholding Class A Common Stock 19,725 $21.72 $428K
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 418,651 shares (Direct); Class A Common Stock — 4,700 shares (Indirect, By Child)
Footnotes (1)
  1. Represents shares that have been withheld by the Issuer to satisfy income tax withholding and remittance obligations in connection with the vesting and net settlement of the Reporting Person's previously disclosed restricted stock units and does not represent a sale by the Reporting Person. Shares were sold pursuant to a 10b5-1 Plan dated August 8, 2024
Form 4 Insider Transactions: What Each Field Means →
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).
1. Name and Address of Reporting Person*
Sauers Kyle
(Last) (First) (Middle)
C/O RUSH STREET INTERACTIVE, INC.
900 N. MICHIGAN AVENUE, SUITE 950
(Street)
CHICAGO IL 60611
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Rush Street Interactive, Inc. [ RSI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Financial Officer
3. Date of Earliest Transaction (Month/Day/Year)
09/29/2025
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
Class A Common Stock 09/29/2025 F 19,725(1) D $21.72 433,689 D
Class A Common Stock 09/30/2025 S(2) 15,038 D $22.34 418,651 D
Class A Common Stock 4,700 I By Child
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 that have been withheld by the Issuer to satisfy income tax withholding and remittance obligations in connection with the vesting and net settlement of the Reporting Person's previously disclosed restricted stock units and does not represent a sale by the Reporting Person.
2. Shares were sold pursuant to a 10b5-1 Plan dated August 8, 2024
Remarks:
/s/ Kyle Sauers 10/01/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What transactions did Kyle Sauers report on the Form 4 for RSI?

The filing reports two items: 19,725 Class A shares withheld by the issuer to satisfy tax obligations related to RSU vesting and a sale of 15,038 Class A shares executed under a 10b5-1 plan.

Were any shares withheld rather than sold in the reported transactions?

Yes. 19,725 shares were withheld by the issuer to satisfy income tax withholding on vested restricted stock units and are explicitly noted as not being a sale by the reporting person.

At what prices were the withheld shares and sold shares recorded?

The withheld shares were recorded at $21.72 (for tax withholding valuation) and the shares sold under the 10b5-1 plan were recorded at $22.34.

How many shares does the reporting person beneficially own after these transactions?

After the reported transactions the reporting person beneficially owned 418,651 Class A shares directly and 4,700 shares indirectly through a child.

Was the sale part of a pre-established trading arrangement?

Yes. The sale of 15,038 shares was executed pursuant to a 10b5-1 Plan dated August 8, 2024 as stated in the filing.