RMNI officer files Form 4 for RSU vesting and tax sale
Rhea-AI Filing Summary
Rimini Street, Inc. (RMNI) executive EVP, Chief Recurring Revenue Officer reported equity activity on a Form 4. On November 13, 2025, 6,666 shares of common stock were acquired at an exercise price of $0 upon the vesting and settlement of Restricted Stock Units. On the same date, 2,451 shares were automatically sold at $3.8246 per share in a "sell-to-cover" transaction to satisfy withholding tax obligations, which the reporting person did not initiate.
The Form 4 notes that each Restricted Stock Unit represents one share of common stock upon vesting. The executive was originally granted 20,000 Restricted Stock Units on November 13, 2024, with one-third vesting on November 13, 2025 and the remaining two-thirds vesting in equal installments on November 13, 2026 and November 13, 2027, subject to continued service. After these transactions, the executive beneficially owns 152,730 shares of common stock and 13,334 Restricted Stock Units.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 6,666 | $0.00 | -- |
| Exercise | Common Stock | 6,666 | $0.00 | -- |
| Sale | Common Stock | 2,451 | $3.8246 | $9K |
Footnotes (1)
- 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. Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting. On November 13, 2024, the Reporting Person was granted 20,000 Restricted Stock Units, one-third of which vested on November 13, 2025. The remaining two-thirds vest ratably on November 13, 2026 and November 13, 2027, 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 applicable vesting date.