Rimini Street (RMNI) EVP exercises RSUs and automatic tax sell-to-cover shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Rimini Street EVP & Chief Marketing Officer David W. Rowe exercised 6,667 Restricted Stock Units on March 3, 2026, receiving an equal number of Rimini Street common shares at a price of $0.00 per share.
On the same day, 2,809 of these common shares were sold at an average price of $3.7187 in an automatically triggered “sell‑to‑cover” transaction to satisfy withholding tax obligations under the company’s policy, a sale the reporting person did not initiate. After these transactions, he directly owned 457,789 Rimini Street common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,809 shares ($10,446)
Net Sell
3 txns
Insider
Rowe David W.
Role
EVP & Chief Marketing 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 — 460,598 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 Performance 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 did Rimini Street (RMNI) executive David Rowe report in this Form 4?
David W. Rowe reported exercising 6,667 Restricted Stock Units into Rimini Street common stock and an automatic sale of 2,809 shares to cover tax withholding. Following these transactions, he directly held 457,789 shares of Rimini Street common stock.
What equity award did David Rowe receive from Rimini Street (RMNI) originally?
Footnotes state that on March 3, 2023, David W. Rowe was granted 20,000 Restricted Stock Units. One-third vested on March 3, 2024, another third on March 3, 2025, and the final third on March 3, 2026, subject to continued service conditions.
What does each Performance Unit in Rimini Street (RMNI) represent for David Rowe?
According to the footnotes, each Performance Unit represents a contingent right to receive one share of Rimini Street common stock upon vesting. These units convert into shares when vesting conditions are met, aligning the executive’s compensation with the company’s equity value.