Rimini Street EVP RSUs vest, tax share sale
Rimini Street, Inc. executive Kevin Maddock, EVP and Chief Recurring Revenue Officer, reported vesting of restricted stock units and performance units on May 6, 2026.
Rhea-AI Filing Summary
Rimini Street, Inc. executive Kevin Maddock, EVP and Chief Recurring Revenue Officer, reported vesting of restricted stock units and performance units on May 6, 2026. A total of 20,728 shares of common stock were acquired through automatic conversion of these awards.
In connection with the vesting, 7,485 shares of common stock were automatically sold at $3.9356 per share in sell-to-cover transactions to satisfy withholding tax obligations under the company’s policy. The footnotes state that Maddock did not initiate these sales.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
6 txns
Insider
Maddock Kevin
Role
EVP,ChiefRecurringRev.Officer
Sold
7,485 shs ($29K)
Approx. gross sale proceeds
$29K
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 16,194 | $0.00 | $0.00 |
| Exercise | Performance Units | 4,534 | $0.00 | $0.00 |
| Exercise | Common Stock | 16,194 | $0.00 | $0.00 |
| Exercise | Common Stock | 4,534 | $0.00 | $0.00 |
| Sale | Common Stock | 5,845 | $3.9356 | $23K |
| Sale | Common Stock | 1,640 | $3.9356 | $6K |
Holdings After Transaction:
Restricted Stock Units — 16,195 contracts (Direct);
Performance Units — 4,534 contracts (Direct);
Common Stock — 213,534 shares (Direct)
Footnotes (7)
- F1. Represents one-third of the total 13,602 "Earned Performance Units" (as previously reported by the Reporting Person on a Form 4 dated March 3, 2025) under the terms of the Issuer's 2013 Long-Term Incentive Plan based upon the Issuer's achievement against a target "Adjusted EBITDA" goal for fiscal year 2024 and the Issuer's achievement against a target "Total Revenue" performance goal for fiscal year 2024, effective as of February 27, 2025 (the date the Issuer filed its Annual Report on Form 10-K for the year ended December 31, 2024).
- F2. 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.
- F3. 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.
- F4. Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
- F5. On May 6, 2024, the Reporting Person was granted 48,582 Restricted Stock Units, one-third of which vested on May 6, 2025 and one-third of which vested on May 6, 2026. The remaining one-third will vest on May 6, 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 vesting date.
- F6. Each Performance Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
- F7. One-third of the "Earned Performance Units" vested on May 6, 2025, and one-third of the "Earned Performance Units" vested on May 6, 2026. The remaining one-third will vest on May 6, 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 vesting date.
Key Figures
Shares sold for taxes: 7,485 shares
Sale price per share: $3.9356 per share
RSUs converted: 16,194 shares
+3 more
6 metrics
Shares sold for taxes
7,485 shares
Automatically triggered sell-to-cover transactions
Sale price per share
$3.9356 per share
Sell-to-cover sales of common stock
RSUs converted
16,194 shares
Restricted Stock Units vesting into common stock
Performance Units converted
4,534 shares
Performance Units vesting into common stock
Net buy/sell shares
-7,485 shares
Net buy-sell direction reported as net-sell
Transaction date
May 6, 2026
Date of reported Form 4 transactions
Key Terms
sell-to-cover, Restricted Stock Unit, Performance Unit, Adjusted EBITDA, +2 more
6 terms
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.
Restricted Stock Unit financial
"Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Performance Unit financial
"Each Performance Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting."
Adjusted EBITDA financial
"based upon the Issuer's achievement against a target "Adjusted EBITDA" goal for fiscal year 2024"
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.
Total Revenue financial
"and the Issuer's achievement against a target "Total Revenue" performance goal for fiscal year 2024"
Long-Term Incentive Plan financial
"under the terms of the Issuer's 2013 Long-Term Incentive Plan"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
FAQ
What did Rimini Street (RMNI) EVP Kevin Maddock report in this Form 4?
Kevin Maddock reported vesting-related equity activity. Restricted stock units and performance units converted into 20,728 shares of Rimini Street common stock, with a portion automatically sold to cover withholding taxes under the company’s policy, rather than as discretionary market sales.
What equity awards vested for Rimini Street (RMNI) EVP Kevin Maddock?
Restricted stock units and performance units vested. 16,194 restricted stock units and 4,534 performance units converted into an equal number of Rimini Street common shares as part of previously granted awards under the company’s equity incentive and long-term incentive plans.
AI-generated analysis. How Rhea-AI works. Not financial advice.
