DEF: Rimini Street Sets Date for 2025 Annual Stockholders Meeting, Outlines Key Proposals

Rimini Street announces its annual stockholders meeting to be held virtually on June 4, 2025, featuring proposals for director election, executive compensation approval, and auditor ratification.

Summary

• Rimini Street will hold its annual stockholders meeting on June 4, 2025, as a virtual-only event.
• Stockholders of record as of April 15, 2025, are eligible to vote.
• The meeting will address the election of a Class II director, an advisory vote on executive compensation, and the ratification of KPMG LLP as the company's independent auditor for the fiscal year ending December 31, 2025.
• The board recommends voting 'FOR' all proposals.
• The proxy statement and annual report are available on the company's website.
• The company's mission is to provide extraordinary technology solutions powered by extraordinary people that achieve each client's strategic, operational, and financial goals.
• Rimini Street served 3,080+ clients, including 73 Fortune 500 and 20 Fortune Global 100 companies, supporting 140+ countries.
• The average client satisfaction rating is 4.9 out of 5.0.

Sentiment

Score: 7

Explanation: The document is primarily informational, outlining standard corporate governance procedures. The sentiment is neutral to slightly positive due to the company's focus on client satisfaction and ethical practices.

Positives

• High client satisfaction rating indicates strong service quality.
• Serving a significant number of Fortune 500 and Global 100 companies demonstrates market presence.
• Virtual meeting format allows for broader stockholder participation.
• The company is focused on ethical business practices and corporate responsibility.
• The company has a clawback policy in place for executive compensation.

Negatives

• The company generated an operating loss of $32.1 million for the fiscal year ended December 31, 2024.
• The company has ongoing litigation matters, which are enumerated in the Risk Factors section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

Risks

• Stock price volatility is a concern, potentially leading to coercive takeover tactics.
• Ongoing litigation matters could impact the company's financial performance.
• The company plans to wind-down the offering of services for Oracle PeopleSoft products.

Future Outlook

The document does not contain specific forward-looking statements beyond the routine business to be conducted at the annual meeting.

Management Comments

• Seth A. Ravin, President, Chief Executive Officer and Chairman of the Board, looks forward to interacting with stockholders at the 2025 Annual Meeting.

Industry Context

The announcement reflects standard corporate governance practices for publicly traded companies, including holding annual meetings and seeking stockholder input on key decisions.

Comparison to Industry Standards

• The document mentions that a substantial majority of Rimini Street's 2025 executive compensation peer group companies that are currently public companies also currently have classified or staggered board structures.
• The document mentions that the company uses a combination of (i) published survey data covering technology companies with annual revenues of $200 to $500 million, and (ii) a software industry peer group of companies as data points when evaluating and establishing executive compensation.
• The document lists the following companies as the peer group for fiscal year 2024: BlackLine, Inc., Consensus Cloud Solutions, Inc., Everbridge, Inc., Five9, Inc., Kinaxis Inc., LiveRamp Holdings, Inc., Model N, Inc., New Relic, Inc., Perficient, Inc., Progress Software Corporation, PROS Holdings, Inc., Synchronoss Technologies, Inc., Upland Software, Inc., Workiva Inc., Yext, Inc., Zuora, Inc.

Related Party Transactions

• Janet Ravin, the spouse of Mr. Ravin, is a non-executive employee of the Company, earning approximately $454,100 in total compensation for the year ended December 31, 2024.

Stakeholder Impact

• Stockholders are encouraged to participate in the annual meeting and vote on key proposals.
• Employees are subject to a Code of Business Conduct and Ethics.
• Clients benefit from the company's commitment to providing extraordinary technology solutions and high-quality support.

Next Steps

• Stockholders are urged to vote on the proposals either online or by mail.
• The company will announce preliminary voting results at the Annual Meeting and publish final results on a Current Report on Form 8-K.

Key Dates

Keywords

Rimini Street, annual meeting, stockholders, proxy statement, executive compensation, director election, KPMG, auditor ratification, corporate governance, virtual meeting