Form 4: Rimini Street EVP Michael Perica Sells Shares to Cover Tax Obligations

Michael L. Perica, EVP & Chief Financial Officer of Rimini Street, Inc., sold 30,588 shares of common stock on April 8, 2024, to cover withholding tax obligations related to vesting events.

Summary

• On April 8, 2024, Michael L. Perica, the EVP & Chief Financial Officer of Rimini Street, Inc., sold 30,588 shares of common stock.
• The sale was executed at a price of $2.977 per share.
• This transaction was an automatically-triggered 'sell-to-cover' transaction to satisfy withholding tax obligations associated with Restricted Stock Unit and Performance Unit vesting events.
• Following the transaction, Perica directly owns 141,517 shares of Rimini Street, Inc.
• Perica had no control over the timing of the 'sell-to-cover' transactions, which were initiated at the direction of the Issuer.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transaction is a routine sell-to-cover for tax obligations, not necessarily indicative of the executive's view on the company's future performance.

Industry Context

Executive stock sales are a common occurrence, particularly to cover tax obligations related to vesting equity. The sale itself doesn't necessarily indicate a negative outlook on the company, but it does reduce the executive's direct stake.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact given the nature of the transaction.

Key Dates