Rimini Street (RMNI) EVP exercises 6,667 RSUs and auto-sells shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Rimini Street, Inc. executive Kevin Maddock reported equity transactions involving company stock. On March 3, 2026, he exercised 6,667 Restricted Stock Units, receiving an equal number of Rimini Street common shares at a price of $0.00 per share.
On the same date, 2,809 common shares were sold at $3.7187 per share in an automatically triggered “sell-to-cover” transaction to satisfy withholding tax obligations related to a performance unit vesting event. According to the disclosure, Maddock did not initiate this sale. After these transactions, he directly held 177,562 shares of Rimini Street common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,809 shares ($10,446)
Net Sell
3 txns
Insider
Maddock Kevin
Role
EVP,ChiefRecurringRev.Officer
Sold
2,809 shs ($10K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 6,667 | $0.00 | -- |
| Exercise | Common Stock | 6,667 | $0.00 | -- |
| Sale | Common Stock | 2,809 | $3.7187 | $10K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 180,371 shares (Direct)
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 Performance 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 3, 2023 , the Reporting Person was granted 20,000 Restricted Stock Units, one-third of which vested on March 3, 2024, one-third of which vested on March 3 ,2025, and one-third of which vested on March 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.
FAQ
What insider transactions did RMNI executive Kevin Maddock report on March 3, 2026?
Kevin Maddock reported exercising 6,667 Restricted Stock Units for Rimini Street common stock and a related sale of 2,809 common shares. The sale was an automatic “sell-to-cover” to satisfy tax withholding obligations tied to a performance unit vesting event.
Was the RMNI stock sale by Kevin Maddock a discretionary transaction?
No, the 2,809 RMNI shares were sold in an automatically triggered “sell-to-cover” transaction. The sale occurred under the issuer’s tax withholding policy for performance unit vesting, and the filing states that the reporting person did not initiate the sale.
What are the vesting terms of Kevin Maddock’s 20,000 RMNI Restricted Stock Units granted in 2023?
The 20,000 Restricted Stock Units granted on March 3, 2023 vest in three equal installments. One-third vested on March 3, 2024, another third on March 3, 2025, and the final third on March 3, 2026, generally contingent on continued service as a Service Provider.