Form 4: Rimini Street EVP Converts RSUs to Common Stock

Rimini Street's EVP, Chief Recurring Revenue Officer, Kevin Maddock, converted 33,333 Restricted Stock Units into common stock following a vesting event.

Summary

• Kevin Maddock, Executive Vice President and Chief Recurring Revenue Officer of Rimini Street, Inc. (RMNI), acquired 33,333 shares of common stock.
• This acquisition resulted from the vesting of Restricted Stock Units (RSUs) on December 17, 2025.
• The transaction price for the acquired shares was $0, which is typical for RSU conversions upon vesting.
• Following this transaction, Maddock directly beneficially owns 186,063 shares of Rimini Street common stock.
• Maddock also continues to hold 66,667 unvested Restricted Stock Units.
• The 33,333 RSUs that vested represent one-third of a 100,000 RSU grant awarded on December 17, 2024.
• The remaining two-thirds of the original RSU grant are scheduled to vest ratably on December 17, 2026, and December 17, 2027.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates an increase in insider ownership, albeit through a pre-scheduled vesting event rather than an open market purchase. This aligns executive interests with shareholders.

Positives

• Increased direct beneficial ownership by a key executive, Kevin Maddock, which can signal confidence in the company's future.
• The vesting of Restricted Stock Units is a standard component of executive compensation, aligning management's interests with shareholders.

Negatives

• The transaction was a conversion of previously granted equity awards, not an open market purchase, which would typically indicate a stronger direct investment decision.

Future Outlook

The remaining 66,667 Restricted Stock Units held by Kevin Maddock are scheduled to vest ratably on December 17, 2026, and December 17, 2027, contingent on his continued service as a Service Provider.

Industry Context

The vesting and conversion of Restricted Stock Units (RSUs) into common stock is a common practice in executive compensation across the technology and software industry. It serves to incentivize long-term performance and align the interests of executives with those of shareholders by providing equity ownership that vests over time.

Stakeholder Impact

• Shareholders: Increased alignment of executive interests with shareholders through greater equity ownership.
• Employees: Standard executive compensation practices can positively influence morale and retention among key personnel.

Next Steps

• Future vesting of 33,333 Restricted Stock Units on December 17, 2026.
• Future vesting of 33,334 Restricted Stock Units on December 17, 2027.

Key Dates

Keywords

RMNI, Rimini Street, Insider Transaction, Form 4, RSU Vesting, Common Stock, Executive Compensation, Kevin Maddock