Maddock Kevin 4/A

What Happened Kevin Maddock, EVP & Chief Recurring Revenue Officer of Rimini Street (RMNI), had vested/converted equity on April 3, 2026 and the company-recorded transactions show automatic sell‑to‑cover sales tied to that vesting. Specifically, 20,461 shares vested/converted at a $0 exercise cost (5,090 RSUs + 15,371 earned Performance Units). Separately, 7,648 shares were sold in open‑market sell‑to‑cover trades at $3.35 per share for total proceeds of $25,620. Net after the sell‑to‑cover, Maddock received approximately 12,813 shares (20,461 vesting less 7,648 sold).

Key Details

• Vesting / exercise date: April 3, 2026 (derivative conversions exercised at $0).
• Sell‑to‑cover sales: 7,648 shares total (1,906 + 5,742) at $3.35/share = $25,620 in proceeds.
• Net shares retained from the event: ~12,813 shares (20,461 vested − 7,648 sold).
• Footnotes: Sales were automatic "sell‑to‑cover" transactions to satisfy tax withholding on RSU and Performance Unit vesting (Reporting Person did not initiate or control timing). The Form 4 was amended to add these sell‑to‑cover transactions; sales were processed April 7–9 and reported in the April 9, 2026 amended filing.
• Derivative note: The exercised/converted units were restricted stock units and earned performance units that vested (each unit converts to one share upon vesting).
• Filing status: This is an amended Form 4 adding the automatic sell‑to‑cover trades; the Reporting Person states he did not initiate the sales.

Context Sell‑to‑cover transactions are routine, automatic sales used solely to pay withholding taxes when RSUs or performance units vest; they do not necessarily signal the insider’s view on the company’s stock. This report reflects a vesting event with partial automatic sales to cover taxes rather than an open‑market sale initiated by the insider.