Rush Street Interactive Announces Board, CFO Changes

TL;DR

RSI shakes up board, locks in CFO with new deal.

AI Summary

Rush Street Interactive, Inc. announced on January 14, 2025, changes in its board of directors and executive compensation. Specifically, the company elected a new director, Gregory L. Rayburn, and appointed him to the Audit Committee. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Kyle W. Sauers, effective January 14, 2025, which includes a base salary of $400,000 and potential bonuses.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in executive and board positions can introduce uncertainty, but the specific details provided appear to be standard corporate governance actions.

Key Numbers

• $400,000 — CFO Base Salary (New employment agreement for Kyle W. Sauers)

Key Players & Entities

• Rush Street Interactive, Inc. (company) — Registrant
• Gregory L. Rayburn (person) — Newly Elected Director
• Kyle W. Sauers (person) — Chief Financial Officer
• January 14, 2025 (date) — Effective date of changes
• $400,000 (dollar_amount) — CFO's base salary

FAQ

Key Financial Figures

• $0.0001 — stered Class A common stock, par value $0.0001 per share RSI The New York Stock Exchan

Filing Documents

• rsi-20250114.htm (8-K) — 23KB
• 0001793659-25-000026.txt ( ) — 165KB
• rsi-20250114.xsd (EX-101.SCH) — 2KB
• rsi-20250114_def.xml (EX-101.DEF) — 4KB
• rsi-20250114_lab.xml (EX-101.LAB) — 25KB
• rsi-20250114_pre.xml (EX-101.PRE) — 16KB
• rsi-20250114_htm.xml (XML) — 3KB

From the Filing

rsi-20250114 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): January 14, 2025 RUSH STREET INTERACTIVE, INC. (Exact name of registrant as specified in its charter) Delaware 001-39232 84-3626708 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 900 N. Michigan Avenue , Suite 950 Chicago , Illinois 60611 (Address of principal executive offices, including zip code) Registrant's telephone number, including area code: ( 773 ) 893-5855 Not Applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, par value $0.0001 per share RSI The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 14, 2025, Rush Street Interactive, Inc. (the " Company ") and Mr. Einar Roosileht agreed to mutually terminate Mr. Roosileht's engagement as the Company's Chief Information Officer, effective as of the earlier of (i) December 31, 2025, and (ii) the date that the transition of Mr. Roosileht's replacement is completed (the " Separation Date ") so that Mr. Roosileht could pursue other opportunities. Mr. Roosileht's transition was not a result of any disagreement with the Company. In connection with the transition, the Company has engaged a leading global executive search firm to assist in a comprehensive search process to identify a replacement for Mr. Roosileht. As part of the agreed separation, Mr. Roosileht (i) will receive his current level of compensation through December 31, 2025, (ii) will receive his annual bonus earned (which has a target of 80% of his base compensation), if any, pro-rated through the Separation Date based on his performance of certain performance criteria, (iii) will receive his currently outstanding restricted stock units and stock options, each of which will continue to vest through December 31, 2025, and subject to cooperating to ensure a smooth transition and provide ongoing support, he will also receive his outstanding performance share units, which will continue to vest through December 31, 2025, with the remainder of all such unvested awards being forfeited in accordance with their terms and the Company's 2020 Omnibus Equity Incentive Plan, as amended from time to time, (iv) will have a period of three (3) months from the date any vested stock options are distributed to him to exercise any such vested stock options that he may hold at that time, and (v) has agreed to confidentiality, non-compete, non-solicit, non-disparagement terms, a 12-month lockup on certain equity owned by Mr. Roosileht and mutual releases with the Company. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RUSH STREET INTERACTIVE, INC. By: /s/ Kyle Sauers Name: Kyle Sauers Title: Chief Financial Officer Dated: January 17, 2025

View Full Filing

View this 8-K filing on SEC EDGAR