Rimini Street: awards equity to reinstated chief revenue officer

What happened
Rimini Street reported that on Oct 1, 2026 the compensation committee approved awards of stock options, restricted stock units (RSUs) and performance units (PSUs) to Steven Hershkowitz, the company’s Executive Vice President and Chief Revenue Officer. The filing says the awards were designed to restore the number of shares underlying unvested equity awards forfeited when Mr. Hershkowitz resigned on Sep 8, 2026; he was reinstated effective Sep 14, 2026.

Key details

• Options: total of 210,084 options awarded in four grants (66,667; 18,301; 25,116; 100,000). Exercise price $4.29 per share, 10-year term, vesting schedules include the first anniversary of the Oct 1, 2026 grant and specific vesting dates of Dec 17, 2027, Mar 4, 2028, Mar 2, 2028 and Mar 2, 2029 as described in the filing.
• RSUs: total of 233,180 RSUs awarded in five grants (100,002; 66,667; 22,989; 11,264; 32,258). Vesting schedules include Oct 1, 2027, the first anniversary of the Oct 1, 2026 grant, Dec 17, 2027, Mar 4, 2028, Mar 2, 2028 and Mar 2, 2029; each RSU is settleable into one share on vesting.
• PSUs: 32,258 target PSUs awarded, with performance-based vesting tied to adjusted EBITDA and total target revenue for the performance period Jan 1, 2026 through Dec 31, 2026. Earned PSUs, if any, vest in thirds on Oct 1, 2027, Mar 2, 2028 and Mar 2, 2029. Performance calculation is as described in the company’s Form 8-K dated Mar 3, 2026; award agreements include change-of-control acceleration provisions under specified conditions.
• All awards are made under the company’s 2013 Equity Incentive Plan and are subject to the plan and award agreement terms.

Why it may matter
Item reported: 5.02 (departure of directors or certain officers; election of directors) — the filing covers the reinstatement of an executive and the related equity awards granted to restore previously forfeited awards. The filing does not show why the insider traded or why the company acted.