Form 4: Rimini Street Executive Vests Stock Units
Statement of Changes in Beneficial Ownership
Kevin Maddock, EVP, Chief Recurring Revenue Officer at Rimini Street, Inc., reported the vesting of 5,090 Restricted Stock Units and 15,371 Performance Units on April 3, 2026.
Summary
- Kevin Maddock, an executive at Rimini Street, Inc., had stock units vest on April 3, 2026.
- This included 5,090 Restricted Stock Units (RSUs).
- Additionally, 15,371 Performance Units vested.
- The vesting of RSUs is generally contingent on continued employment.
- The Performance Units vested based on the company's achievement of Adjusted EBITDA and Total Revenue targets for fiscal year 2023.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral filing, as it reports on routine executive equity vesting rather than new financial results or strategic shifts.
Positives
- Vesting of stock units indicates potential for executive compensation realization.
- Performance units vesting suggests the company met certain financial targets (Adjusted EBITDA and Total Revenue for FY2023).
Risks
- Continued employment is a condition for the vesting of Restricted Stock Units.
- The performance units were earned based on specific financial targets, implying that failure to meet these targets would have resulted in no vesting.
Future Outlook
The vesting of these units is based on past performance and continued employment, and does not provide explicit forward-looking financial guidance.
Industry Context
StockSavvy.ai notes that the vesting of performance-based equity awards is a common incentive mechanism in the software and IT services industry, aligning executive interests with company performance and shareholder value.
Stakeholder Impact
- Shareholders: The vesting of performance units may indicate the company met its financial targets, which is generally positive for shareholders. The vesting of RSUs is a standard compensation practice.
Key Dates
| Date | Description |
|---|---|
| 04/03/2026 | Transaction date for the vesting of Restricted Stock Units and Performance Units. |
| 02/28/2024 | Date of previous Form 4 filing by Reporting Person regarding Earned Performance Units. |
| 04/03/2023 | Grant date of Restricted Stock Units to the Reporting Person. |
Keywords
Form 4, SEC Filing, Rimini Street, RMNI, Stock Vesting, Restricted Stock Units, Performance Units, Executive Compensation, Kevin Maddock
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