Form 4: Adams Street Partners Reports Insider Transactions in Rimini Street, Including RSU Vesting and New Grant

Adams Street Partners LLC, a significant shareholder and affiliate of a Rimini Street director, has filed a Form 4 detailing the vesting of previously granted Restricted Stock Units and the acquisition of new RSUs by director Robin Murray.

Summary

• Adams Street Partners LLC, identified as a 10% owner and affiliated with a director of Rimini Street, Inc. (RMNI), filed a Form 4.
• The filing reports changes in beneficial ownership related to Robin Murray, a director of Rimini Street and a partner at Adams Street Partners, LLC.
• On June 3, 2025, 65,335 Restricted Stock Units (RSUs) previously granted to Robin Murray vested, converting into 65,335 shares of Rimini Street common stock.
• On June 4, 2025, Robin Murray was granted an additional 55,727 new Restricted Stock Units.
• The newly granted 55,727 RSUs are scheduled to vest 100% on the earlier of June 4, 2026, or the day before Rimini Street's 2026 Annual Meeting of Stockholders, contingent on Mr. Murray's continued service as a director.
• Adams Street Partners LLC, through various direct funds (AS 2007, AS 2008, AS 2009, AS 2013, AS 2014, AS 2015, AS 2016, AS VGVI, ASRA), indirectly beneficially owns a total of 23,838,427 shares of Rimini Street common stock.
• The shares and RSUs held by Robin Murray are deemed to be held for the benefit of these Adams Street Funds by agreement.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as it reflects standard equity compensation practices and continued alignment of a significant shareholder/director with the company's interests through RSU grants and vesting. There are no negative transactions (e.g., large sales) reported.

Positives

• The vesting of Restricted Stock Units and the grant of new RSUs to a director indicate continued alignment of management and significant shareholders with the company's long-term performance.
• The acquisition of new RSUs suggests ongoing commitment from a key director to the company's future.

Future Outlook

The document indicates future vesting events for the newly granted Restricted Stock Units, contingent on the director's continued service through June 4, 2026, or the day before the 2026 Annual Meeting of Stockholders.

Industry Context

This filing is a standard disclosure of insider transactions, reflecting equity compensation and ownership structure within the software support and services industry. It does not provide broader industry trends but highlights how a significant institutional investor and its partners manage their holdings and director compensation in a publicly traded company.

Corporate Governance

Related Party Transactions

• Robin Murray, a director of Rimini Street, Inc., is also a partner of Adams Street Partners, LLC, which is a 10% owner of Rimini Street. The RSU grants and holdings are managed such that Mr. Murray holds shares and RSUs for the benefit of various Adams Street Funds, indicating a related party relationship in the beneficial ownership structure.

Stakeholder Impact

• Shareholders: The vesting and new grant of RSUs to a director, who is also affiliated with a major institutional investor, reinforces alignment between management/significant owners and shareholder interests. This can be viewed positively as it ties director compensation to company performance.
• Employees: While not directly impacting all employees, the structure of director compensation can set a precedent or reflect the company's overall approach to equity incentives.

Next Steps

• The 55,727 Restricted Stock Units granted on June 4, 2025, are expected to vest on the earlier of June 4, 2026, or the day before Rimini Street's 2026 Annual Meeting of Stockholders, contingent on continued service.

Key Dates

Keywords

Rimini Street Inc, RMNI, Adams Street Partners, SEC Form 4, Insider Trading, Restricted Stock Units, Beneficial Ownership, Corporate Governance, Equity Compensation