CEO Richard Schwartz Sells Another $4.4M Under 10b5-1 Plan, Pushing Recent Insider Sales Past $300M
RSI sits 83% above its 52-week low of $15.51 on elevated volume (1.9× avg).
Summary
CEO Richard Schwartz sold $4.4 million of RSI stock under a 10b5-1 plan, adding to the $300 million in insider sales over the past three months. The sales come despite record Q2 earnings.
Key Events · Ownership and Investor Activity · RSI
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CEO Sold $4.4M Under 10b5-1 Plan
Richard Schwartz sold 158,334 shares on July 1 at ~$31.21 and another 158,334 shares today at ~$28.02, totaling approximately $4.4 million. Both sales were executed under a pre-arranged 10b5-1 trading plan.
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Insider Selling Tops $300M in 90 Days
These sales add to the $299.4 million in open-market insider sales over the past 90 days, primarily from the May secondary offering where executives sold 11.5 million shares at $26 each.
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Post-Sale Ownership Stakes
After the sales, Neil Bluhm's group beneficially owns 46.5% of Class A common stock (on an as-diluted basis), while CEO Richard Schwartz holds 5.9%.
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Contrasts with Record Q2 Results
The insider selling continues despite the company reporting record Q2 2026 results on July 29, with revenue up 46% to $393.8 million and Adjusted EBITDA up 61%.
Analysis · RSI · Trade & Services
Under a pre-existing 10b5-1 plan, CEO Richard Schwartz sold an additional 316,668 shares for roughly $4.4 million in two tranches—one on July 1 at ~$31.21 and another today at ~$28.02. These trades follow a massive $260 million secondary offering in May, where insiders including Schwartz and Executive Chairman Neil Bluhm offloaded over 11 million shares. Although the sales are automated and non-discretionary, the sustained liquidation by top executives—now exceeding $300 million in recent months—reinforces a pattern of significant insider distribution, even as the company just reported blowout Q2 results.
At the time of this filing, RSI was trading at $28.40 on NYSE in the Trade & Services sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $15.51 to $34.53. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.