Rimini Street EVP exercises 20,461 share units
Rimini Street, Inc. executive vice president Kevin Maddock reported the vesting and exercise of equity awards that delivered 20,461 shares of Common Stock.
Rhea-AI Filing Summary
Rimini Street, Inc. executive vice president Kevin Maddock reported the vesting and exercise of equity awards that delivered 20,461 shares of Common Stock. These came from 5,090 Restricted Stock Units and 15,371 Performance Units that converted at a price of $0.00 per share.
Following these transactions, Maddock directly owned 207,939 shares of Rimini Street Common Stock. The vested awards were granted under the company’s equity incentive plans and tied to both time-based service and achievement of 2023 performance goals such as Adjusted EBITDA and Total Revenue.
Positive
- None.
Negative
- None.
Insider Trade Summary
20,461 shares exercised/converted
Exercise
4 txns
Insider
Maddock Kevin
Role
EVP,ChiefRecurringRev.Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 5,090 | $0.00 | $0.00 |
| Exercise | Performance Units | 15,371 | $0.00 | $0.00 |
| Exercise | Common Stock | 5,090 | $0.00 | $0.00 |
| Exercise | Common Stock | 15,371 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 0 contracts (Direct);
Performance Units — 0 contracts (Direct);
Common Stock — 207,939 shares (Direct)
Footnotes (5)
- F1. 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).
- 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 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.
- 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
Units exercised: 20,461 shares
RSUs converted: 5,090 units
Performance Units converted: 15,371 units
+3 more
6 metrics
Units exercised
20,461 shares
Total Common Stock from RSU and Performance Unit exercises on April 3, 2026
RSUs converted
5,090 units
Restricted Stock Units converted into Common Stock at $0.00 per share
Performance Units converted
15,371 units
Performance Units converted into Common Stock at $0.00 per share
Shares owned after transaction
207,939 shares
Direct Common Stock holdings following Form 4 transactions
RSU grant size
15,267 units
Restricted Stock Units granted April 3, 2023, vesting in three equal annual tranches
Earned Performance Units
46,106 units
Earned based on 2023 Adjusted EBITDA and Total Revenue goals, effective February 28, 2024
Key Terms
Restricted Stock Units, Performance Units, Earned Performance Units, Adjusted EBITDA, +2 more
6 terms
Restricted Stock Units financial
"Each Restricted Stock Unit represents a contingent right to receive one share"
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"
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""
Adjusted EBITDA financial
"based upon the Issuer's achievement against a target "Adjusted EBITDA" goal"
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"
2013 Equity Incentive Plan financial
"defined in the Issuer's 2013 Equity Incentive Plan"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Rimini Street (RMNI) executive Kevin Maddock report in this Form 4 filing?
Kevin Maddock reported equity award vesting and exercises that delivered 20,461 Rimini Street Common Stock shares. The shares came from Restricted Stock Units and Performance Units granted as compensation under company incentive plans, rather than from any open‑market stock purchase or sale.
What equity awards vested for Kevin Maddock at Rimini Street (RMNI)?
5,090 Restricted Stock Units and 15,371 Performance Units vested and converted into 20,461 Rimini Street Common Stock shares. These awards were granted under company incentive plans and became earned based on service conditions and 2023 performance goals for Adjusted EBITDA and Total Revenue.
Were there any open-market stock sales or purchases by Kevin Maddock in this Rimini Street Form 4?
The Form 4 shows only derivative exercises and conversions of Restricted Stock Units and Performance Units into Common Stock at $0.00 per share. It does not report any open‑market stock purchases or sales; all transactions are compensation-related equity vesting events.
How were Kevin Maddock’s Performance Units at Rimini Street determined and when did they vest?
Maddock had 46,106 Earned Performance Units based on Rimini Street’s 2023 Adjusted EBITDA and Total Revenue goals, effective February 28, 2024. One‑third of these units vested on each of April 3, 2024, April 3, 2025, and April 3, 2026, contingent on continued service.
AI-generated analysis. How Rhea-AI works. Not financial advice.
