Rimini Street (NASDAQ: RMNI) CRO awarded 16,896 performance units tied to 2025 goals
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hershkowitz Steven reported acquisition or exercise transactions in this Form 4 filing.
Rimini Street, Inc. executive vice president and chief revenue officer Steven Hershkowitz received an award of 16,896 Performance Units effective February 19, 2026. Each unit represents a contingent right to receive one share of common stock upon vesting.
The units were earned under the company’s 2025 Long-Term Incentive Plan based on achievement of 2025 Adjusted EBITDA and total revenue performance goals. They are subject to additional time-based vesting in three equal installments on March 4, 2026, March 4, 2027, and March 4, 2028, contingent on continued service. Following these transactions, Hershkowitz directly holds 99,945 shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Hershkowitz Steven
Role
EVP & Chief Revenue Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Units | 16,896 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Units — 16,896 shares (Direct);
Common Stock — 99,945 shares (Direct)
Footnotes (1)
- Each Performance Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting. Represents "Earned Performance Units" 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). The Performance Units are subject to additional time-based vesting requirements and will vest in three (3) equal installments on March 4, 2026, 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
What did RMNI executive Steven Hershkowitz report on this Form 4?
Steven Hershkowitz reported receiving 16,896 Performance Units in Rimini Street stock-based compensation. These units were granted for meeting 2025 Adjusted EBITDA and total revenue targets and convert into common shares only as they vest over three years.
How many Rimini Street (RMNI) Performance Units were granted to Steven Hershkowitz?
Steven Hershkowitz was granted 16,896 Performance Units. Each Performance Unit represents a contingent right to receive one share of Rimini Street common stock, subject to specific performance conditions and future time-based vesting dates through March 4, 2028.
What performance goals determine Steven Hershkowitz’s RMNI Performance Units?
The Performance Units were earned based on Rimini Street’s 2025 performance against target Adjusted EBITDA and target total revenue goals. Achievement of these fiscal year 2025 metrics under the 2025 Long-Term Incentive Plan drove the number of “Earned Performance Units” granted.
When do Steven Hershkowitz’s Rimini Street Performance Units vest?
The Performance Units vest in three equal installments on March 4, 2026, March 4, 2027, and March 4, 2028. Vesting requires that Steven Hershkowitz continue as a Service Provider under Rimini Street’s equity incentive plan through each vesting date.
Are Steven Hershkowitz’s RMNI Performance Units immediately payable in stock?
No, the Performance Units are not immediately payable. Each unit is a contingent right to receive one Rimini Street common share, and shares are delivered only as units vest according to the time-based schedule and continued service requirements.