Form 4: Rimini Street Executive Kevin Maddock Reports Stock Transactions

Kevin Maddock, EVP and Chief Recurring Revenue Officer of Rimini Street, Inc., reports the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.

Summary

• On March 3, 2024, Kevin Maddock vested 6,666 restricted stock units (RSUs) which converted into common stock.
• Following the vesting, 2,803 shares of common stock were sold on March 5, 2024, at a price of $2.8457 per share to cover withholding tax obligations related to the RSU vesting.
• After these transactions, Maddock directly owns 94,986 shares of Rimini Street, Inc.
• Maddock also holds 13,334 restricted stock units.

Sentiment

Score: 5

Explanation: This is a routine filing related to executive compensation and tax obligations, with no indication of positive or negative sentiment.

Future Outlook

The remaining two-thirds of the 20,000 RSUs granted on March 3, 2023, will vest ratably on March 3, 2025, and March 3, 2026, subject to continued employment.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive compensation and ownership changes.

Stakeholder Impact

• Shareholders can monitor insider transactions for insights into management's perspective on the company's stock.

Key Dates