Company: RSI
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001793659-25-000168
Chunk: 33

Company: Rush Street Interactive, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 fair value of RSUs vested during the three and six months ended June 30, 2025 was approximately $1.9 million and $20.0 million, respectively, compared to $4.1 million and $10.1 million for the same respective periods in 2024. As of June 30, 2025, the Company had unrecognized share-based compensation expense related to RSUs of $37.6 million. The outstanding RSUs had a remaining weighted-average vesting period of 1.16 years as of June 30, 2025. The Company withheld 1,718,906 shares of its Class A Common Stock associated with the tax withholding obligations due from employees upon the vesting of equity-based awards at an average price of $13.11 and a total cost of $22.5 million during the six months ended June 30, 2025, compared to nil shares for the same period in 2024.

F-16

Table of ContentsRUSH STREET INTERACTIVE, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Stock OptionsThe Company granted 344,391 and 630,897 stock options during the six months ended June 30, 2025 and 2024, respectively. The estimated grant date fair value of stock options was determined using a Black-Scholes valuation model using the following weighted-average assumptions:Six Months EndedJune 30,20252024Volatility rate65.00 %68.00 %Risk-free interest rate4.10 %4.30 %Expected term(1) (in years)6.06.0Dividend yieldNoneNoneStock price at grant date$10.70$5.79Exercise price$10.70$5.79____________________________(1)Calculated using the simplified method (the midpoint between the requisite service period and the contractual term of the option) due to the Company’s insufficient historical exercise information to provide a basis for an estimate.Stock option activity for the six months ended June 30, 2025 was as follows:Number of optionsWeighted-average exercise priceOutstanding balance at December 31, 20242,582,071 $4.57 Granted344,391 10.70 Exercised— — Forfeited— — Outstanding balance at June 30, 20252,926,462 $5.29 Exercisable