Rush Street Interactive Inc. filed SEC Form 8-K: Leadership Update
$RSI
Services-Misc. Amusement & Recreation
Consumer Discretionary
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
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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 | ||||||||