Form 4: Rimini Street EVP Michael Perica Reports Stock Transactions
SEC Form 4 Filing
Michael L. Perica, EVP & Chief Financial Officer of Rimini Street, Inc., reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On April 6, 2024, Michael L. Perica, EVP & Chief Financial Officer of Rimini Street, Inc., had 8,334 restricted stock units vest.
- These units converted into common stock.
- Simultaneously, 8,334 shares were sold at $0 to cover withholding tax obligations related to the vesting event.
- On April 8, 2024, Perica sold 3,412 shares of common stock at a price of $2.93 per share.
- Following these transactions, Perica directly owns 146,439 shares of Rimini Street common stock.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting routine stock transactions by an executive. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice and required by the SEC.
Stakeholder Impact
- The transactions have a minimal impact on shareholders, as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 04/06/2021 | Reporting Person was granted 25,000 Restricted Stock Units, one-third of which vested on each of April 6, 2022, April 6, 2023 and April 6, 2024 |
| 04/06/2022 | One-third of the 25,000 Restricted Stock Units granted on April 6, 2021 vested. |
| 04/06/2023 | One-third of the 25,000 Restricted Stock Units granted on April 6, 2021 vested. |
| 04/06/2024 | 8,334 Restricted Stock Units vested and converted to common stock; 8,334 shares sold to cover tax obligations. |
| 04/08/2024 | 3,412 shares of common stock sold at $2.93 per share. |
| 04/10/2024 | Date of Form 4 filing. |
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