Rimini Street (RMNI) CMO RSU vesting triggers small tax-driven share sale
Rhea-AI Filing Summary
Rimini Street EVP & Chief Marketing Officer David W. Rowe reported routine equity compensation activity. On March 9, 2026, 333 Restricted Stock Units converted into 333 shares of Common Stock at a conversion price of $0.00 per share, increasing his direct holdings.
On the same date, 148 Common shares were sold at $3.4948 per share in an automatically triggered “sell-to-cover” transaction to pay withholding taxes under the company’s policy; the footnote states Rowe did not initiate this sale. After these transactions, he directly holds 467,890 Common shares.
The RSUs come from a 1,000-unit grant made on March 7, 2024. One-third vested on March 7, 2025, another third vested on March 7, 2026, and the remaining third is scheduled to vest on March 7, 2027, generally subject to his continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 333 | $0.00 | -- |
| Exercise | Common Stock | 333 | $0.00 | -- |
| Sale | Common Stock | 148 | $3.4948 | $517.23 |
Footnotes (1)
- 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. Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting. On March 7, 2024, the Reporting Person was granted 1,000 Restricted Stock Units, one-third of which vested on March 7, 2025, and one-third of which vested on March 7, 2026. The remaining one-third will vest on March 7, 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.