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

Kevin Maddock, EVP and Chief Recurring Revenue Officer at Rimini Street, was granted stock options and restricted stock units on November 13, 2024.

Summary

• Kevin Maddock, an executive at Rimini Street, received 10,000 stock options and 20,000 restricted stock units on November 13, 2024.
• The stock options have an exercise price of $1.96 and will vest in three equal annual installments starting November 13, 2025.
• The restricted stock units also vest in three equal annual installments starting November 13, 2025.
• Both the stock options and restricted stock units 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 shareholder value. There are no negative implications.

Positives

• The grant of stock options and restricted stock units aligns executive compensation with company performance.
• The vesting schedule encourages long-term commitment from the executive.

Risks

• The value of the stock options and restricted stock units is dependent on the future performance of Rimini Street's stock price.
• If Mr. Maddock leaves the company before the vesting dates, he may forfeit the unvested awards.

Future Outlook

The document does not contain any forward-looking statements about the company's future performance.

Industry Context

This type of equity compensation is common practice for publicly traded companies to incentivize and retain key executives.

Comparison to Industry Standards

• Equity grants are a standard component of executive compensation packages in the technology sector, similar to companies like Oracle, SAP, and Salesforce.
• The vesting schedule of three equal annual installments is also a common practice to ensure long-term alignment with company goals.

Stakeholder Impact

• Shareholders may view this as a positive sign of aligning executive interests with company performance.
• Employees may see this as a standard practice for executive compensation.

Key Dates

Keywords

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