Form 4: Rimini Street CEO Seth Ravin Exercises and Vests Stock Options and Units

Rimini Street's CEO, Seth Ravin, executed transactions involving restricted stock units and performance units, increasing his beneficial ownership of common stock.

Summary

• On April 3, 2025, Seth Ravin, the President, CEO, and Chairman of Rimini Street, Inc., engaged in transactions involving the vesting of restricted stock units and performance units.
• These transactions resulted in the acquisition of 76,335 shares of common stock from restricted stock units and 192,109 shares of common stock from performance units.
• The vesting of these units increased Ravin's direct ownership to 717,710 shares of common stock.
• The restricted stock units were granted on April 3, 2023, and vest in three annual installments, with the final tranche vesting on April 3, 2026.
• The performance units are tied to the company's achievement of adjusted EBITDA and total revenue goals for fiscal year 2023 and also vest in three annual installments, with the final tranche vesting on April 3, 2026.

Sentiment

Score: 7

Explanation: The document indicates achievement of financial targets (EBITDA and revenue) which is positive. The vesting of shares is a routine event, but the achievement of targets adds a slightly positive sentiment.

Positives

• The vesting of performance units suggests that Rimini Street achieved certain financial targets related to adjusted EBITDA and total revenue for fiscal year 2023.
• The CEO's increased stock ownership aligns his interests with those of shareholders.

Future Outlook

The remaining restricted stock units and performance units will vest on April 3, 2026, subject to the Reporting Person's continued service.

Industry Context

Executive compensation through stock options and restricted stock units is a common practice in the technology industry to align management's interests with shareholder value. The vesting of performance units based on financial targets is also a standard practice to incentivize specific performance outcomes.

Comparison to Industry Standards

• Companies like Oracle and SAP, which compete with Rimini Street in the enterprise software support market, also utilize equity-based compensation for their executives.
• The specific vesting schedules and performance metrics vary across companies, but the general principle of aligning executive compensation with company performance is consistent.
• Comparing the size of the equity grants and the performance targets to those of peer companies would provide a more detailed assessment of the appropriateness of Rimini Street's executive compensation practices.

Stakeholder Impact

• Shareholders may view the vesting of performance units positively, as it indicates the company achieved certain financial goals.
• Employees may be motivated by the company's achievement of performance targets.

Key Dates

Keywords

Rimini Street, Seth Ravin, Form 4, Beneficial Ownership, Restricted Stock Units, Performance Units, Vesting, Common Stock, Equity Incentive Plan, Long-Term Incentive Plan