Company: RSI
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001793659-25-000111
Chunk: 26

Company: Rush Street Interactive, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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714,723 and 1,813,694 RSUs with service conditions during the three months ended March 31, 2025 and 2024, respectively. RSUs with service conditions generally vest over a three- to four-year period, with each tranche vesting annually. The grant date fair value of RSUs with service conditions is determined based on the quoted market price.The Company granted 423,269 and 1,152,122 RSUs with market-based conditions (e.g., total shareholder return) during the three months ended March 31, 2025 and 2024, respectively. RSUs with market-based conditions generally vest over a three-year period and fair value was determined using a Monte Carlo simulation using the following assumptions:Three Months EndedMarch 31,20252024Volatility rate62.75 %68.48 %Risk-free interest rate4.00 %4.55 %Average expected life (in years)2.82.8Dividend yieldNoneNoneStock price at grant date$10.70$5.79

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

RSU activity for the three months ended March 31, 2025 and 2024 was as follows:Number of unitsWeighted-average grant priceUnvested balance at December 31, 20249,965,432 $6.06 Granted1,137,992 12.07 Additional shares based on performance(1)1,055,328 21.19 Vested(2)(4,842,177)3.74 Forfeited(55,987)5.89 Unvested balance at March 31, 20257,260,588 $7.67 Unvested balance at December 31, 20239,218,142 $5.70 Granted2,965,816 7.06 Vested(2)(1,532,353)3.92 Forfeited(3,264)3.59 Unvested balance at March 31, 202410,648,341 $6.34 ______________________________(1)RSUs with market conditions include a performance achievement multiplier that is assessed upon vesting of the shares. RSUs with market conditions vested during three months ended March 31, 2025, resulting in the