Form 4: Rimini Street Executive VP David Rowe Reports Stock Transactions
SEC Form 4 Filing
David Rowe, EVP of Global Transformation & CPO at Rimini Street, reported the vesting of restricted stock units and subsequent sale of shares to cover tax obligations.
Summary
- On February 23, 2024, David Rowe, EVP of Global Transformation & CPO of Rimini Street, vested 8,334 restricted stock units (RSUs).
- Concurrently, 3,410 shares were sold at a price of $3.1312 per share to cover withholding tax obligations related to the RSU vesting.
- Following these transactions, Rowe directly owns 365,845 shares of Rimini Street common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The sale of shares to cover tax obligations upon vesting of restricted stock units is a common practice.
Stakeholder Impact
- The transactions have a minor impact on shareholders due to the small number of shares involved.
Key Dates
| Date | Description |
|---|---|
| 02/23/2021 | Reporting Person was granted 25,000 Restricted Stock Units |
| 02/23/2022 | One-third of the 25,000 Restricted Stock Units vested |
| 02/23/2023 | One-third of the 25,000 Restricted Stock Units vested |
| 02/23/2024 | Vesting of 8,334 Restricted Stock Units and sale of 3,410 shares to cover tax obligations. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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