Form 4: Rimini Street Executive Nancy Lyskawa Acquires Performance Units

Nancy Lyskawa, EVP & Chief Client Officer of Rimini Street, acquired 46,106 performance units convertible to common stock based on the company's 2023 performance.

Summary

• Nancy Lyskawa, an executive at Rimini Street, acquired 46,106 performance units on February 28, 2024.
• These performance units are a contingent right to receive one share of Rimini Street's common stock upon vesting.
• The vesting is based on Rimini Street's achievement against target adjusted EBITDA and total revenue goals for fiscal year 2023.
• The performance units are subject to additional time-based vesting requirements and will vest in three equal installments on April 3, 2024, April 3, 2025, and April 3, 2026, contingent on continued service.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating alignment of interests and confidence in company performance. It's a neutral-positive signal.

Positives

• The acquisition of performance units indicates confidence in the company's performance and future prospects.
• The vesting schedule incentivizes continued service and commitment from the executive.

Risks

• The value of the performance units is contingent on the company's future performance and stock price.
• The executive must remain employed with the company to fully vest the performance units.

Future Outlook

The performance units vest over a three-year period, incentivizing the executive to contribute to the company's long-term success.

Industry Context

Equity compensation is a common practice in the technology industry to align executive interests with shareholder value.

Comparison to Industry Standards

• Companies like Oracle and SAP, which Rimini Street competes with, also use performance-based equity compensation to incentivize their executives.
• The vesting schedule of three years is fairly standard in the industry.

Stakeholder Impact

• Shareholders may view the equity compensation as a positive sign of alignment between management and shareholder interests.
• Employees may be motivated by the company's performance-based compensation structure.

Next Steps

• The executive will need to continue meeting the service requirements for the performance units to vest.
• The company will need to achieve its financial targets for the performance units to have value.

Key Dates