Richard Todd Schwartz, who serves as both Chief Executive Officer and a director at Rush Street Interactive, Inc. (NASDAQ:RSI), disposed of Class A Common Stock totaling an approximate value of $4.05 million on June 1, 2026.
The sales were structured under a pre-arranged trading plan known as Rule 10b5-1, and the executed prices for the transactions ranged between $25.08 and $25.98 per share. In total, 158,334 shares of Class A Common Stock were disposed of through several distinct transactions.
- Schwartz personally sold a quantity of 47,222 shares.
- An Irrevocable Trust affiliated with Schwartz accounted for the sale of 55,556 shares.
- A second separate Trust, also linked to Schwartz, sold an additional 55,556 shares.
These insider sales take place against a backdrop of significant stock appreciation for RSI. The company's stock was noted to have surged by over 100% within the past year and is currently trading at $25.42, giving it a market capitalization of $5.92 billion.
Despite this substantial price growth, analysis from InvestingPro indicated that the stock maintained an undervalued status relative to its calculated Fair Value. This valuation assessment led the stock to appear on the platform's list of Most Undervalued securities.
Furthermore, Schwartz and affiliated trusts engaged in transactions involving Class A Common Units of Rush Street Interactive, L.P., separate from the common stock sales. On June 1, 2026, a total of 158,334 Class A Common Units were exchanged for an equivalent number of Class A Common Stock shares of Rush Street Interactive, Inc.
Concurrently with this unit exchange, the same quantity of Class V Voting Stock shares held by Schwartz and the trusts was canceled. It is important to note that while the Class V Voting Stock grants voting rights, it does not confer any economic interest in the company.
The financial activity surrounding RSI has been further highlighted by recent corporate announcements involving other key figures and related transactions within the broader group. Notably, Rogers Sugar Inc. announced a quarterly dividend of $0.09 per share. This dividend is scheduled for payment on July 15, 2026, to shareholders who are recorded as of June 26, 2026.
The company also confirmed that this declared dividend qualifies as an eligible dividend for the purposes of income tax.
In a separate but related development, Rush Street Interactive Inc. was recently involved in a secondary stock offering valued at $260 million. This transaction saw the sale of 10 million shares by trusts controlled by several senior executives: Executive Chairman Neil Bluhm, CEO Richard Schwartz, and COO Mattias Stetz.
The pricing for these offered shares was set at $26.00 per share. All three named executives sold less than 10% of their respective holdings during this offering. The closing date for the secondary offering was anticipated to be May 7, 2026, pending customary conditions.
These various financial maneuvers and corporate developments underscore the ongoing transactional activity and internal capital movements within the companies involved.