Maddock Kevin 4

What Happened

• Kevin Maddock, EVP & Chief Recurring Revenue Officer of Rimini Street (RMNI), reported vesting/conversion of 17,125 award-derived shares (11,493 restricted stock units + 5,632 performance units) on March 4, 2026. Those shares were recorded as acquired at $0.00 (award conversion). On the same day he disposed of 7,209 shares in open-market sales at $3.64 per share for proceeds of $26,261. The filing also shows 17,125 shares treated as derivative disposals tied to the vesting event (see footnotes) — these transactions were automatic sell-to-cover actions to satisfy tax withholding.

Key Details

• Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (timely).
• Acquired via award conversion: 11,493 RSUs and 5,632 Performance Units (total 17,125) at $0.00 (vesting/conversion).
• Open-market sales: 4,838 shares and 2,371 shares at $3.64 each (total 7,209 shares) for combined proceeds of $26,261.
• Derivative disposals: 11,493 and 5,632 shares shown as disposed in connection with the conversion (footnotes F1/F3 indicate these were automatic sell-to-cover transactions).
• Shares owned after the transaction: not specified in the filing.
• Footnotes of note:
  • F1 & F3: The reported sales were automatically-triggered sell-to-cover transactions to pay withholding taxes; the reporting person did not initiate the sale.
  • F2/F6/F7/F5: The 5,632 performance units represent one-third of 16,896 "Earned Performance Units" and the 11,493 RSUs represent one-third of a 34,482 grant; remaining portions vest in 2027–2028, subject to service requirements.

Context

• These were not cash purchases (no bullish cash investment); they were award vesting/conversions with automatic tax withholding and partial open-market sales. For retail investors, automatic sell-to-cover transactions are routine tax-related events and do not necessarily signal management sentiment about the stock.