Rimini Street CFO logs equity vesting, tax share sales
Rimini Street EVP & CFO Michael L. Perica reported equity award vesting and related share movements.
Rhea-AI Filing Summary
Rimini Street EVP & CFO Michael L. Perica reported equity award vesting and related share movements. On March 4, 2026, he acquired 38,313 shares of common stock from vested Restricted Stock Units and 18,774 shares from vested Performance Units through derivative exercises at no cost per share.
On the same date, a total of 24,879 common shares were sold at $3.6428 per share in automatically triggered “sell-to-cover” transactions to satisfy tax withholding obligations for these vesting events, which the footnotes state he did not initiate. Following these transactions, he directly owned 127,885 shares of Rimini Street common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 38,313 | $0.00 | $0.00 |
| Exercise | Performance Units | 18,774 | $0.00 | $0.00 |
| Exercise | Common Stock | 38,313 | $0.00 | $0.00 |
| Sale | Common Stock | 16,335 | $3.6428 | $60K |
| Exercise | Common Stock | 18,774 | $0.00 | $0.00 |
| Sale | Common Stock | 8,544 | $3.6428 | $31K |
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 56,321 "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 114,942 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
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What did Rimini Street (RMNI) CFO Michael Perica report on this Form 4?
What vesting schedule applies to the Rimini Street Restricted Stock Units reported?
How are Rimini Street Performance Units structured for the CFO’s award?
AI-generated analysis. How Rhea-AI works. Not financial advice.