Form 4: Rimini Street Executive Kevin Maddock Receives Stock Options and Restricted Stock Units

Kevin Maddock, EVP and Chief Recurring Revenue Officer of Rimini Street, Inc., reports the acquisition of stock options and restricted stock units.

Summary

• Kevin Maddock, an executive at Rimini Street, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On May 6, 2024, Maddock acquired 38,749 employee stock options with an exercise price of $2.47, vesting in three equal installments on May 6, 2025, May 6, 2026, and May 6, 2027.
• He also acquired 48,582 restricted stock units (RSUs), each representing a contingent right to receive one share of Rimini Street's common stock, vesting in three equal installments on May 6, 2025, May 6, 2026, and May 6, 2027.
• Following these transactions, Maddock directly owns 107,231 shares of Rimini Street common stock, 38,749 employee stock options, and 48,582 restricted stock units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The granting of stock options and RSUs is a standard practice and generally viewed favorably as it aligns management's interests with shareholders. There are no indications of negative news or concerns.

Positives

• The grant of stock options and RSUs aligns Maddock's interests with those of the shareholders, incentivizing him to contribute to the company's success.
• The vesting schedule encourages long-term commitment from Maddock to Rimini Street.

Future Outlook

The vesting of the stock options and RSUs is contingent upon Maddock's continued service with Rimini Street.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates compensation and alignment of interests between management and shareholders.

Stakeholder Impact

• Shareholders may view the granting of stock options and RSUs positively as it incentivizes management to improve company performance.
• Employees may see this as a positive sign of the company's commitment to its executives.

Key Dates