Form 4: Rimini Street EVP Steven Hershkowitz Awarded 300,000 Restricted Stock Units

Rimini Street's EVP & Chief Revenue Officer, Steven Hershkowitz, received 300,000 restricted stock units (RSUs) on April 30, 2024, which will vest in three annual installments.

Summary

• Steven Hershkowitz, EVP & Chief Revenue Officer of Rimini Street, Inc., was granted 300,000 Restricted Stock Units (RSUs) on April 30, 2024.
• These RSUs represent a contingent right to receive one share of Rimini Street's common stock upon vesting.
• The RSUs will vest ratably in three annual installments on April 30, 2025, April 30, 2026, and April 30, 2027.
• Vesting is generally subject to Hershkowitz continuing to be a service provider through the applicable vesting date.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The granting of RSUs is a standard practice and indicates confidence in the executive's continued contribution to the company's success. It's a routine filing, but positive for executive retention.

Positives

• The grant of RSUs aligns the executive's interests with those of the shareholders, incentivizing continued service and performance.
• The vesting schedule encourages long-term commitment from the executive.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance, only details of the vesting schedule for the granted RSUs.

Industry Context

Granting stock-based compensation is a common practice in the tech industry to attract, retain, and incentivize key executives. The vesting schedule is designed to ensure long-term commitment and alignment with shareholder value.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, especially in the technology sector.
• Companies like Oracle and SAP, which Rimini Street competes with, also utilize stock options and RSUs as part of their executive compensation packages.
• The vesting schedule of three years is fairly standard, aligning with typical retention strategies.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it incentivizes the executive to drive long-term value.
• Employees may see it as a sign of the company's commitment to its leadership team.

Key Dates