Rimini Street CRO exercises units, sells shares
Rimini Street, Inc. executive vice president and chief revenue officer Steven Hershkowitz reported multiple equity award transactions.
Rhea-AI Filing Summary
Rimini Street, Inc. executive vice president and chief revenue officer Steven Hershkowitz reported multiple equity award transactions. On March 4, 2026, he acquired 11,493 shares of common stock from vested Restricted Stock Units and 5,632 shares from vested Performance Units through derivative exercises at a price of $0.00 per share. On the same date, he sold 3,485 and 1,708 shares of common stock at $3.6428 per share in automatically triggered sell-to-cover transactions to satisfy tax withholding obligations under company policy, as noted in the footnotes. Following these transactions, he directly owned 111,877 shares of Rimini Street common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
6 txns
Insider
Hershkowitz Steven
Role
EVP & Chief Revenue Officer
Sold
5,193 shs ($19K)
Approx. gross sale proceeds
$19K
Approx. exercise cost
$0.00
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 11,493 | $0.00 | $0.00 |
| Exercise | Performance Units | 5,632 | $0.00 | $0.00 |
| Exercise | Common Stock | 11,493 | $0.00 | $0.00 |
| Sale | Common Stock | 3,485 | $3.6428 | $13K |
| Exercise | Common Stock | 5,632 | $0.00 | $0.00 |
| Sale | Common Stock | 1,708 | $3.6428 | $6K |
Holdings After Transaction:
Restricted Stock Units — 22,989 contracts (Direct);
Performance Units — 11,264 contracts (Direct);
Common Stock — 111,877 shares (Direct)
Footnotes (7)
- F1. 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.
- F2. Represents one third of the total 16,896 "Earned Performance Units" (as previously reported by the Reporting Person on a Form 4 dated February 20, 2026) under the terms of the Issuer's 2025 Long-Term Incentive Plan based upon the Issuer's achievement against a target "Adjusted EBITDA" performance goal for fiscal year 2025 and the Issuer's achievement against a target "Total Revenue" performance goal for fiscal year 2025, effective as of February 19, 2026 (the date the Issuer filed its Annual Report on Form 10-K for the year ended December 31, 2025).
- 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 March 4, 2025, the Reporting Person was granted 34,482 Restricted Stock Units, one-third of which vested on March 4, 2026. The remaining two-thirds will vest ratably on March 4, 2027, and March 4, 2028, 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 March 4, 2026. The remaining two-thirds vest ratably on March 4, 2027 and March 4, 2028, 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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Rimini Street (RMNI) executive Steven Hershkowitz report on this Form 4?
Steven Hershkowitz reported vesting-related equity transactions, including exercises of Restricted Stock Units and Performance Units into Rimini Street common stock, plus automatic sell-to-cover sales for taxes. These actions reflect routine compensation vesting rather than discretionary open-market buying or selling by the executive.
What sell-to-cover stock sales did Steven Hershkowitz report for Rimini Street (RMNI)?
He reported two common stock sales on March 4, 2026: 3,485 shares and 1,708 shares at $3.6428 per share. Footnotes explain these were automatically triggered sell-to-cover transactions to pay withholding taxes on Restricted Stock Unit and Performance Unit vesting events.
What are the vesting terms for Steven Hershkowitz’s Rimini Street Restricted Stock Units?
On March 4, 2025, he was granted 34,482 Restricted Stock Units, with one-third vesting on March 4, 2026. The remaining two-thirds vest ratably on March 4, 2027 and March 4, 2028, subject to his continued status as a Service Provider under Rimini’s 2013 Equity Incentive Plan.
How do Steven Hershkowitz’s Rimini Street Performance Units vest according to this filing?
The filing notes 16,896 Earned Performance Units based on 2025 Adjusted EBITDA and Total Revenue goals, with one-third vesting on March 4, 2026. The remaining two-thirds vest ratably on March 4, 2027 and March 4, 2028, subject to his continued service with Rimini Street.
AI-generated analysis. How Rhea-AI works. Not financial advice.
