Form 4: Rimini Street EVP Michael Perica Reports Stock Transactions

EVP and Chief Financial Officer of Rimini Street, Michael L. Perica, reports acquisition and disposal of common stock and derivative securities due to vesting of restricted stock units and performance units.

Summary

• Michael L. Perica, EVP & Chief Financial Officer of Rimini Street, reported transactions involving the company's common stock and derivative securities on May 6, 2025.
• These transactions include the acquisition of 53,980 shares of common stock through the vesting of restricted stock units and 15,115 shares through the vesting of performance units.
• Perica also disposed of 22,124 shares and 6,195 shares of common stock in 'sell-to-cover' transactions to satisfy tax obligations related to the vesting of these units.
• Following these transactions, Perica beneficially owns 246,281 shares of common stock and holds 107,963 restricted stock units and 30,229 performance units.
• The vesting of restricted stock units and performance units is subject to continued service with the company through the applicable vesting dates.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions are routine and reflect standard compensation practices. The vesting of performance units suggests the company met certain financial targets.

Positives

• The vesting of restricted stock units and performance units indicates that Perica is meeting the requirements of the company's incentive plans.
• The vesting of performance units suggests that the company has achieved certain financial targets, specifically related to adjusted EBITDA and total revenue for fiscal year 2024.

Negatives

• The sale of shares to cover tax obligations, while standard, slightly reduces Perica's direct holdings in the company.

Risks

• The vesting of the remaining restricted stock units and performance units is contingent upon Perica's continued service with the company.
• Future performance unit vesting depends on the company's ability to meet future performance targets.

Future Outlook

The remaining restricted stock units and performance units will vest ratably on May 6, 2026, and May 6, 2027, contingent upon continued service.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices involving equity-based awards.

Comparison to Industry Standards

• Equity compensation is a common practice among publicly traded companies to align the interests of executives with those of shareholders.
• The vesting schedules and performance-based units are typical components of executive compensation packages, similar to those offered by companies like Oracle, SAP, and Salesforce.
• Sell-to-cover transactions for tax obligations are a standard procedure in the industry.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, as they primarily involve the vesting of previously granted equity awards.
• Employees may view the vesting of performance units positively, as it indicates the company is achieving its financial goals.

Next Steps

• Remaining restricted stock units and performance units will vest on May 6, 2026, and May 6, 2027, subject to continued service.
• The reporting person will likely file additional Form 4s in the future as more equity awards vest or are transacted.

Key Dates

Keywords

Rimini Street, Michael Perica, Form 4, Stock Transactions, Restricted Stock Units, Performance Units, Beneficial Ownership, EVP, CFO