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

David W. Rowe, EVP at Rimini Street, sold 2,803 shares of common stock to cover withholding tax obligations related to the vesting of restricted stock units.

Summary

• On March 3, 2024, David W. Rowe, EVP at Rimini Street, had 6,666 restricted stock units vest, converting into common stock.
• To cover withholding tax obligations associated with this vesting, Rowe sold 2,803 shares of common stock on March 5, 2024, at a price of $2.8457 per share.
• Following these transactions, Rowe directly owns 369,708 shares of Rimini Street common stock.
• Rowe also holds 13,334 restricted stock units that will vest in the future.

Sentiment

Score: 5

Explanation: This is a neutral event related to routine tax obligations. It doesn't indicate a positive or negative outlook for the company.

Future Outlook

The remaining two-thirds of the initially granted restricted stock units will vest ratably on March 3, 2025 and March 3, 2026, subject to continued employment.

Industry Context

This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes when restricted stock units vest.

Stakeholder Impact

• The sale of shares by an executive could have a minor negative impact on shareholder sentiment, but it is likely to be insignificant given the reason for the sale.

Key Dates