Maddock Kevin 4
4 · Rimini Street, Inc. · Filed Apr 7, 2026
Research Summary
AI-generated summary of this filing
Rimini Street (RMNI) EVP Kevin Maddock Converts Awards to 20,461 Shares
What Happened
Kevin Maddock, Executive Vice President & Chief Recurring Revenue Officer of Rimini Street (RMNI), acquired 20,461 shares on April 3, 2026 through the exercise/conversion of vested equity awards. The filing shows two conversion events: 5,090 shares and 15,371 shares, each with an exercise/conversion price of $0.00 (no cash paid). These entries reflect the conversion/vesting of restricted stock units (RSUs) and previously "earned" performance units — not an open‑market purchase or sale.
Key Details
- Transaction date: April 3, 2026. Report filed April 7, 2026 (appears to be after the standard two-business-day Form 4 filing window).
- Reported entries: 5,090 shares @ $0.00 and 15,371 shares @ $0.00 (both acquired via code M = exercise/conversion of derivative). Matching "disposed" derivative entries reflect the derivative instruments were converted.
- Total shares received: 20,461 shares.
- Shares owned after transaction: Not provided in the supplied filing data.
- Relevant footnotes:
- The 15,371 shares represent one‑third of 46,106 "Earned Performance Units" that vested based on 2023 performance targets (Adjusted EBITDA and Total Revenue).
- The 5,090 shares represent one‑third of 15,267 Restricted Stock Units granted on April 3, 2023 (vesting in thirds on Apr 3 of 2024/2025/2026).
- Each RSU/Performance Unit is a contingent right to one share upon vesting.
- Transaction code meaning: M = exercise or conversion of a derivative/award; corresponding "disposed" lines remove the derivative instrument upon conversion.
Context
This was an equity‑award vesting/conversion event (not a sale). The performance units were previously reported as "earned" based on 2023 results and vested in thirds; one of those thirds vested on April 3, 2026 along with the scheduled RSU tranche. Because no shares were sold, the transaction represents receipt of company stock from awards rather than a liquidity event.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-04-03+5,090→ 192,568 total - Exercise/Conversion
Common Stock
[F1]2026-04-03+15,371→ 207,939 total - Exercise/Conversion
Restricted Stock Units
[F2][F3]2026-04-03−5,090→ 0 total→ Common Stock (5,090 underlying) - Exercise/Conversion
Performance Units
[F4][F5]2026-04-03−15,371→ 0 total→ Common Stock (15,371 underlying)
Footnotes (5)
- [F1]Represents one-third of the total 46,106 "Earned Performance Units" (as previously reported by the Reporting Person on a Form 4 dated February 28, 2024) under the terms of the Issuer's 2023 Long-Term Incentive Plan based upon the Issuer's achievement against a target "Adjusted EBITDA" goal for fiscal year 2023 and the Issuer's achievement against a target "Total Revenue" performance goal for fiscal year 2023, effective as of February 28, 2024 (the date the Issuer filed its Annual Report on Form 10-K for the year ended December 31, 2023).
- [F2]Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
- [F3]On April 3, 2023, the Reporting Person was granted 15,267 Restricted Stock Units, one-third of which vested on April 3, 2024, one-third of which vested on April 3, 2025, and one-third of which vested on April 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.
- [F4]Each Performance Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
- [F5]One-third of the "Earned Performance Units" vested on April 3, 2024, one-third of the "Earned Performance Units" vested on April 3, 2025, and one-third of the "Earned Performance Units" vested on April 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.