Director-linked trust trims Rush Street Interactive (RSI) stake after unit conversion
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Rush Street Interactive, Inc. director-linked trust executes exchange and sale transactions. A revocable trust associated with Judith Gold converted 48,286 Class A Common Units of Rush Street Interactive, L.P. into 48,286 shares of Class A Common Stock, canceling an equivalent number of Class V Voting Stock held by the trust.
The trust then sold 48,286 Class A shares at a weighted average price of $23.071 per share, with individual trades ranging from $23.00 to $23.26, under a pre-arranged Rule 10b5-1 trading plan. Gold’s husband, Daniel Kotcher, as trustee, holds sole voting and investment control, and Gold disclaims beneficial ownership beyond her pecuniary interest. Following these transactions, Gold holds 119,597 shares of Class A Common Stock directly.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 48,286 shares ($1,114,006)
Net Sell
5 txns
Insider
GOLD JUDITH
Role
Director
Sold
48,286 shs ($1.11M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class A Common Units of Rush Street Interactive, L.P. | 48,286 | $0.00 | -- |
| Conversion | Class A Common Stock | 48,286 | $0.00 | -- |
| Disposition | Class V Voting Stock | 48,286 | $0.00 | -- |
| Sale | Class A Common Stock | 48,286 | $23.071 | $1.11M |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Units of Rush Street Interactive, L.P. — 125,083 shares (Indirect, By Daniel S. Kotcher Revocable Trust u/t/a dated December 7, 2012);
Class A Common Stock — 48,286 shares (Indirect, By Daniel S. Kotcher Revocable Trust u/t/a dated December 7, 2012);
Class V Voting Stock — 125,083 shares (Indirect, By Daniel S. Kotcher Revocable Trust u/t/a dated December 7, 2012);
Class A Common Stock — 119,597 shares (Direct)
Footnotes (1)
- On April 17, 2026, the reporting person's spouse exchanged, pursuant to the Amended and Restated Limited Partnership Agreement of Rush Street Interactive, LP ("RSI LP"), 48,286 Class A Common Stock Units ("RSI Units") for 48,286 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's spouse being canceled. Consists of securities held by the Daniel S. Kotcher Revocable Trust u/t/a dated December 7, 2012 (the "Kotcher Trust"). The reporting person is a beneficiary of the Kotcher Trust and may be deemed to have a beneficial ownership interest with respect to the securities held thereby, and the reporting person's husband, Daniel Kotcher, serves as trustee of the Kotcher Trust and exercises sole voting and investment control over such securities. The reporting person disclaims beneficial ownership of the securities held by the Kotcher Trust except to the extent of her actual pecuniary interest therein. 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 $23.00 to $23.26 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 Rush Street Interactive, L.P. ("RSI LP"), beginning on June 29, 2021, the Class A Common Units of RSI LP ("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 converted: 48,286 units
Shares sold: 48,286 shares
Weighted average sale price: $23.071 per share
+3 more
6 metrics
Shares converted
48,286 units
Class A Common Units of Rush Street Interactive, L.P. converted on April 17, 2026
Shares sold
48,286 shares
Class A Common Stock sold in open-market transactions by the trust
Weighted average sale price
$23.071 per share
Sales executed in a price range of $23.00 to $23.26
Direct holdings after transactions
119,597 shares
Class A Common Stock held directly by Judith Gold after April 17, 2026
Trust Class V Voting Stock after
125,083 shares
Class V Voting Stock reported as held by the Kotcher Trust after transactions
Trust LP units after conversion
125,083 units
Class A Common Units of Rush Street Interactive, L.P. held by the trust after the reported exchange
Key Terms
Class A Common Units of Rush Street Interactive, L.P., Class V Voting Stock, Rule 10b5-1 Plan, Revocable Trust, +1 more
5 terms
Class A Common Units of Rush Street Interactive, L.P. financial
"Class A Common Units of Rush Street Interactive, L.P."
Class V Voting Stock financial
"The shares of Class V Voting Stock of the Issuer provide no economic rights"
Rule 10b5-1 Plan regulatory
"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.
Revocable Trust financial
"Daniel S. Kotcher Revocable Trust u/t/a dated December 7, 2012"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
beneficial ownership financial
"The reporting person disclaims beneficial ownership of the securities held by the Kotcher Trust"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What insider transactions were reported for RSI on this Form 4?
The filing reports a conversion and sale involving 48,286 shares. A trust associated with director Judith Gold converted 48,286 partnership units into Class A Common Stock, then sold 48,286 shares in open-market transactions at a weighted average price of $23.071 per share.
Was the RSI insider sale by the trust pre-planned under Rule 10b5-1?
Yes, the sale was executed pursuant to a Rule 10b5-1 plan. The filing states that the 48,286 Class A shares were sold under a pre-arranged 10b5-1 trading plan, indicating the trades were scheduled in advance rather than timed discretionarily.
What securities did the trust hold after the RSI transactions?
The trust reported 125,083 Class V Voting Stock after the transactions. Following the exchange and cancellation of some Class V shares, the filing shows 125,083 Class V Voting Stock and 125,083 Class A Common Units of Rush Street Interactive, L.P. associated with the trust.