Form 4: Rimini Street EVP Steven Hershkowitz Sells Shares to Cover Tax Obligations

EVP & Chief Revenue Officer of Rimini Street, Steven Hershkowitz, sold shares to cover tax obligations related to vesting of restricted stock units.

Summary

• Steven Hershkowitz, EVP & Chief Revenue Officer of Rimini Street, filed a Form 4.
• On April 30, 2025, Hershkowitz sold 24,974 shares of common stock at a price of $3.4726 per share.
• This sale was an automatically-triggered 'sell-to-cover' transaction to pay withholding tax obligations related to the vesting of restricted stock units.
• Hershkowitz also had 99,999 Restricted Stock Units vest on the same date.
• Following the transaction, Hershkowitz directly owns 75,025 shares of Rimini Street common stock and 200,001 Restricted Stock Units.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.

Future Outlook

The remaining two-thirds of the 300,000 Restricted Stock Units granted on April 30, 2024, will vest ratably on April 30, 2026, and April 30, 2027, subject to continued service.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives.

Stakeholder Impact

• The sale of shares may have a minor impact on shareholders due to the increased supply of shares in the market.

Key Dates

Keywords

Rimini Street, Hershkowitz, Form 4, Stock Sale, Restricted Stock Units, Tax Withholding, RMNI, EVP, Chief Revenue Officer