Rimini Street (RMNI) EVP exercises 20,461 shares; 7,648 sold to cover taxes
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
Rimini Street EVP Kevin Maddock reported routine equity compensation activity and related tax sales. On April 3, 2026, he exercised 5,090 Restricted Stock Units and 15,371 Performance Units, receiving 20,461 shares of common stock. Over April 7–9, 7,648 shares were automatically sold at $3.3499 per share to cover withholding tax obligations under the company’s policy, with the sales processed by the stock plan administrator and not initiated by Maddock. Following these transactions, he directly held 200,291 shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 7,648 shares ($25,620)
Net Sell
6 txns
Insider
Maddock Kevin
Role
EVP,ChiefRecurringRev.Officer
Sold
7,648 shs ($26K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 5,090 | $0.00 | -- |
| Exercise | Performance Units | 15,371 | $0.00 | -- |
| Exercise | Common Stock | 5,090 | $0.00 | -- |
| Exercise | Common Stock | 15,371 | $0.00 | -- |
| Sale | Common Stock | 1,906 | $3.3499 | $6K |
| Sale | Common Stock | 5,742 | $3.3499 | $19K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Performance Units — 0 shares (Direct);
Common Stock — 192,568 shares (Direct)
Footnotes (1)
- Represents one-third of the total 46,106 "Earned Performance Units" (as previously reported by the Reporting Person on a Form 4 dated February 28, 2024) under the terms of the Issuer's 2023 Long-Term Incentive Plan based upon the Issuer's achievement against a target "Adjusted EBITDA" goal for fiscal year 2023 and the Issuer's achievement against a target "Total Revenue" performance goal for fiscal year 2023, effective as of February 28, 2024 (the date the Issuer filed its Annual Report on Form 10-K for the year ended December 31, 2023). The Reporting Person is amending his Form 4 filed April 7, 2026, to add automatic "sell-to-cover" transactions related to the payment of withholding tax obligations pursuant to the Issuer's policy for tax withholdings associated with Restricted Stock Unit and Performance Unit vesting events. The sales occurred over a three-day period (April 7, 8 and 9) and were processed by the Company's stock plan administrator. The Reporting Person did not initiate the sales and had no control over the timing of the sales. The sales were not reported by the Company's stock plan administrator to the Reporting Person until April 9, 2026. Reported transaction is an automatically-triggered "sell-to-cover" transaction related to the payment of withholding tax obligations pursuant to the Issuer's policy for tax withholdings associated with Restricted Stock Unit vesting events. The Reporting Person did not initiate the sale. Reported transaction is an automatically-triggered "sell-to-cover" transaction related to the payment of withholding tax obligations pursuant to the Issuer's policy for tax withholdings associated with Performance Unit vesting events. The Reporting Person did not initiate the sale. Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting. On April 3, 2023, the Reporting Person was granted 15,267 Restricted Stock Units, one-third of which vested on April 3, 2024, one-third of which vested on April 3, 2025, and one-third of which vested on April 3, 2026, generally subject to the Reporting Person continuing to be a Service Provider (as such term is defined in the Issuer's 2013 Equity Incentive Plan) through the vesting date. Each Performance Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting. One-third of the "Earned Performance Units" vested on April 3, 2024, one-third of the "Earned Performance Units" vested on April 3, 2025, and one-third of the "Earned Performance Units" vested on April 3, 2026, generally subject to the Reporting Person continuing to be a Service Provider (as such term is defined in the Issuer's 2013 Equity Incentive Plan) through the vesting date.
Key Figures
Shares from RSUs: 5,090 shares
Shares from Performance Units: 15,371 shares
Total shares acquired via awards: 20,461 shares
+3 more
6 metrics
Shares from RSUs
5,090 shares
Restricted Stock Units converted to common stock on April 3, 2026
Shares from Performance Units
15,371 shares
Performance Units converted to common stock on April 3, 2026
Total shares acquired via awards
20,461 shares
Combined RSU and Performance Unit conversions
Shares sold to cover taxes
7,648 shares
Automatic sell-to-cover over April 7–9, 2026
Sell-to-cover price
$3.3499 per share
Price for automatic tax withholding sales
Shares held after transactions
200,291 shares
Direct ownership following all reported trades
Key Terms
Restricted Stock Units, Performance Units, Earned Performance Units, sell-to-cover, +1 more
5 terms
Restricted Stock Units financial
"Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Performance Units financial
"Each Performance Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting."
Performance units are company awards that become valuable only if specified business targets are met; they typically convert into shares or cash when performance goals are achieved. Think of them like a conditional bonus that turns into stock only if the company hits agreed milestones, so they align managers’ incentives with shareholders’ interests and can affect future share count, executive pay expense, and investor returns.
Earned Performance Units financial
"Represents one-third of the total 46,106 "Earned Performance Units" ... based upon the Issuer's achievement against a target "Adjusted EBITDA" goal..."
sell-to-cover financial
"Reported transaction is an automatically-triggered "sell-to-cover" transaction related to the payment of withholding tax obligations..."
Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.
withholding tax obligations financial
"automatic "sell-to-cover" transactions related to the payment of withholding tax obligations pursuant to the Issuer's policy..."
FAQ
What did Rimini Street (RMNI) executive Kevin Maddock report in this Form 4/A?
Kevin Maddock reported exercising equity awards into 20,461 Rimini Street common shares. He also disclosed automatic sell-to-cover transactions where 7,648 shares were sold to satisfy withholding tax obligations tied to Restricted Stock Unit and Performance Unit vesting events.
What equity awards vested for Rimini Street (RMNI) EVP Kevin Maddock?
Maddock had 5,090 Restricted Stock Units and 15,371 Performance Units convert into Rimini Street common stock. These units were granted under the company’s long-term incentive plans and vest subject to continued service and specified performance conditions being achieved.