Rush Street Interactive (RSI) CEO sells 158,335 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Rush Street Interactive, Inc. director and CEO Richard Todd Schwartz reported multiple transactions involving Class A Common Stock, Class V Voting Stock, and related partnership units. On May 1, 2026, he and affiliated trusts exchanged Class A Common Units of Rush Street Interactive, L.P. for an equal number of Class A Common Stock shares, with an equivalent number of Class V Voting Stock shares canceled in each exchange.
On the same date, Schwartz and affiliated trusts then completed open-market sales totaling 158,335 shares of Class A Common Stock at a weighted average price of $28.1329 per share, executed pursuant to a Rule 10b5-1 trading plan. Following these sales, Schwartz directly held 421,259 shares of Class A Common Stock, with additional indirect holdings through trusts, and continued to hold Class V Voting Stock, which carries voting but no economic rights.
Positive
- None.
Negative
- None.
Insights
CEO executes pre-planned exchange-and-sale, remains a large holder.
Rush Street Interactive’s CEO, Richard Todd Schwartz, converted partnership units and associated Class V Voting Stock into 158,335 shares of Class A Common Stock, then sold the same number of shares in open-market transactions at a weighted average of $28.1329 per share.
The filing notes these sales were made under a Rule 10b5-1 trading plan, indicating they were pre-scheduled rather than opportunistic. After the transactions, Schwartz still directly owns 421,259 Class A shares plus indirect interests via trusts, so the activity appears as portfolio and structural rebalancing rather than an exit.
Insider Trade Summary 10b5-1
Net Seller: 158,335 shares ($4,454,423)
Net Sell
12 txns
Insider
SCHWARTZ RICHARD TODD
Role
Chief Executive Officer
Sold
158,335 shs ($4.45M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class A Common Units of Rush Street Interactive, L.P. | 47,223 | $0.00 | -- |
| Conversion | Class A Common Units of Rush Street Interactive, L.P. | 55,556 | $0.00 | -- |
| Conversion | Class A Common Units of Rush Street Interactive, L.P. | 55,556 | $0.00 | -- |
| Conversion | Class A Common Stock | 47,223 | $0.00 | -- |
| Disposition | Class V Voting Stock | 47,223 | $0.00 | -- |
| Conversion | Class A Common Stock | 55,556 | $0.00 | -- |
| Disposition | Class V Voting Stock | 55,556 | $0.00 | -- |
| Conversion | Class A Common Stock | 55,556 | $0.00 | -- |
| Disposition | Class V Voting Stock | 55,556 | $0.00 | -- |
| Sale | Class A Common Stock | 47,223 | $28.1329 | $1.33M |
| Sale | Class A Common Stock | 55,556 | $28.1329 | $1.56M |
| Sale | Class A Common Stock | 55,556 | $28.1329 | $1.56M |
Holdings After Transaction:
Class A Common Units of Rush Street Interactive, L.P. — 5,278,885 shares (Direct, null);
Class A Common Units of Rush Street Interactive, L.P. — 1,056,902 shares (Indirect, By Irrevocable Trust);
Class A Common Stock — 421,259 shares (Direct, null);
Class V Voting Stock — 5,278,885 shares (Direct, null);
Class A Common Stock — 55,556 shares (Indirect, By Irrevocable Trust);
Class V Voting Stock — 1,056,902 shares (Indirect, By Irrevocable Trust)
Footnotes (1)
- On May 1, 2026, the Reporting Person and/or affiliated trusts exchanged, pursuant to the Amended and Restated Limited Partnership Agreement of Rush Street Interactive, LP ("RSI LP"), the number of Class A Common Stock Units ("RSI Units") set forth in this box for the same number of shares of Class A Common Stock of the Issuer, together with an equivalent number of Class V Voting Stock of the Issuer held by the Reporting Person and/or affiliated trusts, as applicable, being canceled. The shares of Class V Voting Stock of the Issuer provide no economic rights in the Issuer to the holder thereof. However, each holder of Class V Voting Stock will be entitled to vote as a common stockholder of the Issuer, with the number of votes equal to the number of shares of Class V Voting Stock held at the time of such vote. Shares were sold pursuant to a 10b5-1 plan. The reported price in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $27.69 to $28.52 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. Pursuant to the Amended and Restated Limited Partnership Agreement of RSI LP, beginning on June 29, 2021, the RSI Units beneficially owned by the reporting person may be exchanged, subject to certain conditions, for one share of Class A Common Stock of the Issuer. Upon such exchange, an equivalent number of shares of Class V Voting Stock then held by the reporting person will be canceled.
Key Figures
Shares sold: 158,335 shares
Weighted average sale price: $28.1329 per share
Price range: $27.69–$28.52 per share
+4 more
7 metrics
Shares sold
158,335 shares
Total Class A Common Stock sold on May 1, 2026
Weighted average sale price
$28.1329 per share
Open-market sales of Class A Common Stock
Price range
$27.69–$28.52 per share
Range of individual sale prices in reported trades
Direct Class A holdings after
421,259 shares
CEO’s direct Class A Common Stock following transactions
Direct Class A sold
47,223 shares
Directly held Class A shares sold in open market
Indirect Class A sold by trusts
111,112 shares
Class A shares sold by affiliated trusts (combined)
Net buy/sell shares
-158,335 shares
Net share change from reported buy/sell activity
Key Terms
Rule 10b5-1 plan, Class V Voting Stock, derivative conversion, issuer disposition, +1 more
5 terms
Rule 10b5-1 plan financial
"Shares were sold pursuant to a 10b5-1 plan."
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
Class V Voting Stock financial
"The shares of Class V Voting Stock of the Issuer provide no economic rights"
derivative conversion financial
"transaction_action": "derivative conversion""
issuer disposition financial
"transaction_action": "issuer disposition""
Class A Common Units of Rush Street Interactive, L.P. financial
"security_title": "Class A Common Units of Rush Street Interactive, L.P.""
FAQ
What did RSI CEO Richard Todd Schwartz do in this Form 4 filing?
Richard Todd Schwartz reported converting partnership units and Class V Voting Stock into Class A Common Stock, then selling 158,335 Class A shares in open-market transactions. These trades occurred on May 1, 2026 and were executed under a pre-arranged Rule 10b5-1 trading plan.
Were the RSI insider stock sales by the CEO pre-planned under Rule 10b5-1?
Yes. The filing explicitly states that the reported Rush Street Interactive share sales were made pursuant to a Rule 10b5-1 trading plan. Such plans schedule trades in advance, which generally indicates routine diversification or liquidity planning rather than reactive, market-timing decisions by the insider.
What happened to the Class V Voting Stock in the RSI CEO’s structure?
In connection with exchanging partnership units for Class A Common Stock, an equivalent number of Class V Voting Stock shares held by the CEO and affiliated trusts were canceled. Class V Voting Stock provides voting rights but no economic rights, so this adjustment aligns the voting and economic interests after the exchanges.
What are the Class A Common Units of Rush Street Interactive, L.P. referenced in the filing?
The Class A Common Units of Rush Street Interactive, L.P. are partnership units that, under the partnership agreement, can be exchanged for shares of Rush Street Interactive Class A Common Stock. When exchanged, an equal number of Class V Voting Stock shares held by the insider are canceled, simplifying the capital structure.