Maddock Kevin 4

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.