Rimini Street (RMNI) CFO logs RSU vesting and tax sell-to-cover
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Rimini Street EVP & CFO Michael L. Perica reported activity tied to restricted stock units on March 3, 2026. He converted 6,667 Restricted Stock Units into the same number of shares of common stock at no exercise price, then an automatically triggered sell-to-cover transaction sold 3,140 shares to satisfy tax withholding obligations under the company’s policy. After these transactions, he directly held 95,677 shares of Rimini Street common stock.
The Form 4 footnotes state that Perica did not initiate the sell order and that the RSUs came from a 20,000-unit grant made on March 3, 2023, vesting in service-based annual tranches through March 3, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 3,140 shares ($11,677)
Net Sell
3 txns
Insider
Perica Michael L.
Role
EVP & Chief Financial Officer
Sold
3,140 shs ($12K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 6,667 | $0.00 | -- |
| Exercise | Common Stock | 6,667 | $0.00 | -- |
| Sale | Common Stock | 3,140 | $3.7187 | $12K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 98,817 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 Restricted Stock 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 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 Rimini Street (RMNI) report for CFO Michael Perica?
Rimini Street reported that CFO Michael Perica converted 6,667 Restricted Stock Units into common shares and an automatic sale of 3,140 shares. The sale was a sell-to-cover transaction to pay withholding taxes under the company’s policy, leaving him with 95,677 directly held shares.
Was the Rimini Street (RMNI) insider stock sale initiated by CFO Michael Perica?
No, the sale was not personally initiated by CFO Michael Perica. A footnote explains it was an automatically triggered sell-to-cover transaction to satisfy tax withholding obligations related to RSU vesting, executed under Rimini Street’s tax withholding policy rather than a discretionary open-market sale.
What is the origin of the Restricted Stock Units reported by Rimini Street (RMNI)?
The Restricted Stock Units came from a 20,000-unit grant awarded on March 3, 2023. According to the footnotes, portions vested on March 3, 2024, March 3, 2025, and March 3, 2026, generally conditioned on Michael Perica’s continued status as a service provider to Rimini Street.