Form 4: Adams Street Partners Reports Changes in Beneficial Ownership of Rimini Street, Inc. (RMNI)

Adams Street Partners reports transactions involving Rimini Street, Inc. stock, including the vesting of restricted stock units and indirect beneficial ownership through various funds.

Summary

• Adams Street Partners LLC, through its various funds, reported changes in beneficial ownership of Rimini Street, Inc. (RMNI) common stock.
• On June 5, 2024, 40,178 Restricted Stock Units (RSUs) vested for Robin Murray, a director of Rimini Street and a partner at Adams Street Partners.
• These RSUs were granted on June 7, 2023, and each RSU represents a contingent right to receive one share of Rimini Street's common stock.
• Adams Street Partners disclaims beneficial ownership of the shares except to the extent of their pecuniary interest.
• On June 6, 2024, 65,335 Restricted Stock Units were awarded and will vest on the earlier of June 6, 2025, or the day before the date of the Issuer's 2025 Annual Meeting of Stockholders, contingent upon Robin Murray's continued service as a member of the Issuer's Board of Directors through such date.
• The filing details indirect ownership through multiple Adams Street funds, including AS 2007, AS 2008, AS 2009, AS 2013, AS 2014, AS 2015, AS 2016, AS VGVI, and ASRA.

Sentiment

Score: 5

Explanation: This is a routine filing related to stock ownership and compensation, with no inherently positive or negative implications.

Positives

• The vesting of RSUs for a director aligns their interests with those of shareholders.
• The continued service of Robin Murray as a member of the Issuer's Board of Directors is contingent upon the vesting of 65,335 Restricted Stock Units.

Future Outlook

The vesting of additional RSUs in 2025 is contingent on Robin Murray's continued service as a director.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders and significant shareholders.

Stakeholder Impact

• Shareholders are informed about changes in ownership by a major shareholder.
• The vesting of RSUs incentivizes the director to act in the best interests of the company.

Key Dates