Rimini Street CEO receives 268,455 shares from awards
Rimini Street, Inc. President, CEO & Chairman Seth A. Ravin acquired shares through equity award vesting.
Rhea-AI Filing Summary
Rimini Street, Inc. President, CEO & Chairman Seth A. Ravin acquired shares through equity award vesting. On April 3, 2026, 76,338 Restricted Stock Units and 192,117 Performance Units were exercised into a total of 268,455 shares of Common Stock at $0.00 per share.
The Performance Units relate to 576,335 "Earned Performance Units" under the 2023 Long-Term Incentive Plan, based on 2023 Adjusted EBITDA and Total Revenue goals. Following these transactions, Ravin directly holds 908,781 shares of Common Stock and indirectly holds 10,491,309 shares through the SAR Trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
268,455 shares exercised/converted
Exercise
5 txns
Insider
Ravin Seth A.
Role
President, CEO & Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 76,338 | $0.00 | $0.00 |
| Exercise | Performance Units | 192,117 | $0.00 | $0.00 |
| Exercise | Common Stock | 76,338 | $0.00 | $0.00 |
| Exercise | Common Stock | 192,117 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 contracts (Direct);
Performance Units — 0 contracts (Direct);
Common Stock — 908,781 shares (Direct);
Common Stock — 10,491,309 shares (Indirect, Through the SAR Trust)
Footnotes (5)
- F1. Represents one-third of the total 576,335 "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).
- F2. Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
- F3. On April 3, 2023, the Reporting Person was granted 229,007 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.
- F4. Each Performance Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
- F5. 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
Restricted Stock Units exercised: 76,338 units
Performance Units exercised: 192,117 units
Total shares from award vesting: 268,455 shares
+3 more
6 metrics
Restricted Stock Units exercised
76,338 units
Converted to Common Stock on April 3, 2026 at $0.00
Performance Units exercised
192,117 units
Converted to Common Stock on April 3, 2026 at $0.00
Total shares from award vesting
268,455 shares
Common Stock received from RSUs and Performance Units
Direct Common Stock holdings
908,781 shares
Shares directly owned after April 3, 2026 transactions
Indirect Common Stock holdings
10,491,309 shares
Shares held indirectly through the SAR Trust
Earned Performance Units total
576,335 units
Earned under 2023 Long-Term Incentive Plan performance goals
Key Terms
Restricted Stock Units, Performance Units, Earned Performance Units, Adjusted EBITDA, +1 more
5 terms
Restricted Stock Units financial
"On April 3, 2023, the Reporting Person was granted 229,007 Restricted Stock Units, one-third of which vested..."
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 576,335 "Earned Performance Units" ... under the terms of the Issuer's 2023 Long-Term Incentive Plan..."
Adjusted EBITDA financial
"based upon the Issuer's achievement against a target "Adjusted EBITDA" goal for fiscal year 2023..."
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
2013 Equity Incentive Plan financial
"as such term is defined in the Issuer's 2013 Equity Incentive Plan) through the vesting date."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did RMNI CEO Seth A. Ravin report in this Form 4 filing?
Seth A. Ravin reported acquiring Common Stock of Rimini Street, Inc. (RMNI) through vesting of equity awards. Restricted Stock Units and Performance Units converted into shares at $0.00 per share, reflecting compensation rather than open-market purchases or sales.
What are the Earned Performance Units mentioned for RMNI in this filing?
The filing references 576,335 "Earned Performance Units" under Rimini Street’s 2023 Long-Term Incentive Plan. These units were earned based on the company’s 2023 Adjusted EBITDA and Total Revenue performance and are vesting in three equal installments over specified April 3 vesting dates.
How do Restricted Stock Units work for Rimini Street executives like Seth A. Ravin?
Each Restricted Stock Unit represents a right to receive one Rimini Street Common Share upon vesting. In this filing, RSUs granted on April 3, 2023 vest in three equal annual installments, conditioned on continued service as a Service Provider under the company’s equity incentive plan.
What performance conditions affected Seth A. Ravin’s Rimini Street Performance Units?
The Performance Units depended on Rimini Street’s achievement of 2023 targets for Adjusted EBITDA and Total Revenue. Once designated as "Earned Performance Units," they vest in three equal portions on April 3, 2024, 2025, and 2026, subject to continued service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
