Rimini Street executive sells 4,884 shares for taxes
The 4,884-share sale was automatically triggered to cover withholding taxes under Rimini Street's policy, and Rowe did not initiate it.
Rhea-AI Filing Summary
Rimini Street, Inc. EVP & Chief Marketing Officer David W. Rowe converted 13,333 restricted stock units into common stock on September 20, 2026, and sold 4,884 common shares at $4.36 per share on September 21, 2026. The sale was an automatically triggered sell-to-cover transaction for withholding tax obligations under the issuer's policy; Rowe did not initiate it. Following the conversion, he held 13,334 restricted stock units. No Rule 10b5-1 plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
3 txns
Insider
Rowe David W.
Role
EVP & Chief Marketing Officer
Sold
4,884 shs ($21K)
Approx. gross sale proceeds
$21K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1 | 4,884 | $4.36 | $21K |
| Exercise | Restricted Stock Units F2, F3 | 13,333 | $0.00 | $0.00 |
| Exercise | Common Stock | 13,333 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 13,334 contracts (Direct);
Common Stock — 506,568 shares (Direct)
Footnotes (3)
- 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. Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
- F3. On September 20, 2024, the Reporting Person was granted 40,000 Restricted Stock Units, one-third of which vested on September 20, 2025 and one-third of which vested on September 20, 2026 (with a deemed execution date of Monday, September 21, 2026). The remaining one-third will vest on September 20, 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.
Key Figures
Common shares sold: 4,884 shares
Sale price: $4.36 per share
Restricted stock units converted: 13,333 units
+2 more
5 metrics
Common shares sold
4,884 shares
September 21, 2026; automatically triggered sell-to-cover transaction
Sale price
$4.36 per share
Common shares sold on September 21, 2026
Restricted stock units converted
13,333 units
Converted into common stock on September 20, 2026
Restricted stock units remaining
13,334 units
Following the September 20, 2026 conversion
Restricted stock units granted
40,000 units
Granted September 20, 2024
Key Terms
Restricted Stock Units, sell-to-cover, Service Provider
3 terms
Restricted Stock Units financial
"Each Restricted Stock Unit represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
sell-to-cover financial
"automatically-triggered "sell-to-cover" transaction"
Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.
Service Provider technical
"continuing to be a Service Provider through the vesting date"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many RMNI restricted stock units converted to common stock?
On September 20, 2026, 13,333 restricted stock units converted into 13,333 common shares. Rowe held 13,334 restricted stock units following the conversion.
When were David W. Rowe's restricted stock units granted and scheduled to vest?
Rowe was granted 40,000 restricted stock units on September 20, 2024. One-third vested on September 20, 2025, and another one-third vested on September 20, 2026, with a deemed execution date of September 21, 2026. The remaining one-third will vest on September 20, 2027, generally subject to Rowe continuing to be a Service Provider through that date.
AI-generated analysis. How Rhea-AI works. Not financial advice.