Rush Street Interactive insider cuts stake with July 2025 10b5-1 sales

Rhea-AI Filing Summary

Rush Street Interactive, Inc. (RSI) – Form 4 insider transaction filing

Director Niccolo de Masi disclosed three open-market sales of Class A common stock executed pursuant to a Rule 10b5-1 trading plan dated 14 March 2025:

• 07 Jul 03 2025: 111,478 shares sold at a weighted-average price of $15.1033
• 07 Jul 07 2025: 276,163 shares sold at a weighted-average price of $15.1481
• 07 Jul 08 2025: 58,453 shares sold at a weighted-average price of $15.2783

The aggregate shares sold across the three days total 446,094, reducing the reporting person’s indirect holdings (through Isalea Investments LP) from 780,710 to 446,094 shares. An additional 15,203 shares are held directly. All prices reflect weighted-average figures; detailed price breakdowns are available on request as noted in the footnotes.

No derivative security activity was reported. The filing signals a sizable reduction in the director’s indirect ownership, although the use of a pre-established 10b5-1 plan may mitigate concerns over information asymmetry.

Positive

• None.

Negative

• Director Niccolo de Masi sold 446,094 shares (weighted-avg $15.10-$15.28) over three days, materially reducing his indirect stake.

Insights

Financial Analyst

TL;DR: Large 10b5-1 insider sale removes ~43% of de Masi’s indirect stake; mildly negative sentiment offset by pre-planned nature.

Mr. de Masi sold 446 k shares over three sessions at roughly $15.10-$15.28, cutting his indirect position by about 43%. While directors routinely diversify, the absolute size is noteworthy and could create perceived overhang, particularly given RSI’s relatively modest float. However, execution under a 10b5-1 plan, and the fact that de Masi still retains over 461 k shares, lessens signaling risk. From a governance standpoint, the filing appears compliant and transparent, but near-term investor sentiment may skew negative due to the supply increase.

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^*

de Masi Niccolo

(Last) (First) (Middle)

C/O RUSH STREET INTERACTIVE

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/03/2025

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	07/03/2025		S(1)		111,478	D	$15.1033(2)	780,710	I	See Footnote(3)
Class A Common Stock	07/07/2025		S(1)		276,163	D	$15.1481(4)	504,547	I	See Footnote(3)
Class A Common Stock	07/08/2025		S(1)		58,453	D	$15.2783(5)	446,094	I	See Footnote(3)
Class A Common Stock								15,203	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. Shares were sold pursuant to a 10b5-1 Plan dated March 14, 2025.

2. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $15.00 to $15.24 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. These shares are held directly by Isalea Investments LP, of which the Reporting Person is the Managing Member. The Reporting Person may be deemed to have beneficial ownership of the shares held directly by Isalea Investments LP. The Reporting Person disclaims beneficial ownership of such shares, and this Form 4 shall not be deemed an admission that the Reporting Person is the beneficial owner of the shares for purposes of Section 16 or for any other purpose.

4. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $15.00 to $15.28 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $15.10 to $15.40 per share. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Remarks:

	/s/ Kyle Sauers as Attorney-in-fact	07/08/2025
	** 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.
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FAQ

Who is the insider involved in the RSI Form 4?

Niccolo de Masi, a director of Rush Street Interactive, Inc., is the reporting person.

How many RSI shares were sold according to the Form 4?

The filing reports 446,094 Class A shares sold across three transactions.

What were the sale dates and average prices?

Sales occurred on 07/03/2025 at $15.1033, 07/07/2025 at $15.1481, and 07/08/2025 at $15.2783 (weighted averages).

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

Yes. All sales were made under a Rule 10b5-1 plan adopted on 14 March 2025.

How many RSI shares does the director own after the transactions?

Post-sale, de Masi beneficially owns 446,094 shares indirectly and 15,203 shares directly.

Did the filing report any derivative security activity?

No. Table II shows no derivative trades for the reported period.