Form 4: Rimini Street Executive Receives Stock and Option Grants

Kevin Maddock, EVP and Chief Recurring Revenue Officer at Rimini Street, was granted 100,000 restricted stock units and 100,000 stock options on December 17, 2024.

Summary

• Kevin Maddock, an executive at Rimini Street, received 100,000 restricted stock units and 100,000 stock options on December 17, 2024.
• The restricted stock units will vest in three equal annual installments starting December 17, 2025, and continuing on December 17, 2026 and December 17, 2027.
• The stock options also vest in three equal annual installments on the same dates as the restricted stock units.
• Both the stock units and options are subject to Mr. Maddock's continued service with the company.

Sentiment

Score: 7

Explanation: The document reflects a standard practice of executive compensation, which is generally viewed positively as it aligns executive interests with company performance. There are no negative implications.

Positives

• The grants of restricted stock units and stock options align Mr. Maddock's interests with the company's long-term performance.
• The vesting schedule encourages continued service and contribution from the executive.

Risks

• The value of the stock options is dependent on the future performance of Rimini Street's stock price.
• The vesting of the grants is contingent on Mr. Maddock's continued employment, creating a potential risk of forfeiture if he leaves the company before full vesting.

Future Outlook

The document does not contain any specific forward-looking statements beyond the vesting schedule of the grants.

Industry Context

Equity grants are a common practice in the technology industry to incentivize and retain key executives.

Comparison to Industry Standards

• The vesting schedule of three years is fairly standard for equity grants in the technology sector.
• Companies like Oracle and SAP, which are competitors of Rimini Street, also use similar equity compensation packages for their executives.

Stakeholder Impact

• The equity grants may have a minor dilutive effect on existing shareholders.
• The grants are intended to incentivize the executive to drive company performance, which would benefit all stakeholders.

Key Dates

Keywords

Rimini Street, stock options, restricted stock units, equity compensation, executive compensation, vesting, RMNI