Form 4: Rimini Street EVP Michael Perica Reports Stock Transactions

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 March 3, 2024, Michael L. Perica vested 6,666 restricted stock units (RSUs) which converted into common stock.
• Simultaneously, 6,666 shares were acquired at $0 price due to the vesting of the RSUs.
• Following the vesting, Perica owned 107,043 shares of common stock.
• On March 5, 2024, Perica sold 3,129 shares at a price of $2.8457 per share.
• This sale resulted in Perica owning 103,914 shares of common stock.
• The sale was an automatically-triggered 'sell-to-cover' transaction to satisfy withholding tax obligations related to the RSU vesting.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Future Outlook

The remaining two-thirds of the 20,000 restricted stock units granted on March 3, 2023, will vest ratably on March 3, 2025, and March 3, 2026, contingent upon continued employment.

Industry Context

This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the increased number of shares sold in the market.

Key Dates