Form 4: Rimini Street Executive Sells Shares to Cover Tax Obligations

David W. Rowe, EVP at Rimini Street, sold 10,888 shares of common stock on April 8, 2024, to cover withholding tax obligations related to vesting events.

Summary

• On April 8, 2024, David W. Rowe, EVP, Glob.Transform.&CPO of Rimini Street, Inc. (RMNI), sold 10,888 shares of common stock.
• The sale was executed at a price of $2.977 per share.
• This transaction was an automatically-triggered 'sell-to-cover' transaction to satisfy withholding tax obligations associated with Restricted Stock Unit and Performance Unit vesting events.
• Following the transaction, Rowe directly owns 385,941 shares of Rimini Street common stock.
• The reporting person had no control over the timing of the 'sell-to-cover' transactions, which were initiated at the direction of the Issuer.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sell-to-cover for tax obligations) and doesn't indicate any significant positive or negative sentiment.

Industry Context

Executive stock sales for tax purposes are a common occurrence, especially after vesting of stock options or restricted stock units. This transaction is a routine part of executive compensation and tax management.

Key Dates