Maddock Kevin 4
4 · Rimini Street, Inc. · Filed May 8, 2026
Research Summary
AI-generated summary of this filing
Rimini Street (RMNI) EVP Kevin Maddock Converts Awards, Sells Shares
What Happened
- Kevin Maddock, EVP & Chief Recurring Revenue Officer of Rimini Street (RMNI), had 16,194 restricted stock units and 4,534 earned performance units convert into common stock on May 6, 2026 (20,728 shares acquired at $0).
- The filing shows automatic sell-to-cover and open‑market sales of 5,845 and 1,640 shares at $3.94 each, yielding $23,004 and $6,454 respectively (total proceeds $29,458). Some conversion/withholding-related disposition entries are reported at $0 consistent with vesting and tax withholding.
Key Details
- Transaction date: May 6, 2026; Form 4 filed May 8, 2026 (timely).
- Conversion/vesting: 16,194 RSUs (one-third of a 48,582 grant) and 4,534 earned Performance Units (one-third of 13,602) converted into shares (acquired at $0).
- Sales: 5,845 and 1,640 shares sold at $3.94 for total proceeds of $29,458; footnotes F2 and F3 state these were automatic "sell-to-cover" transactions for tax withholding (Reporting Person did not initiate).
- Shares owned after the transaction: not specified in the filing.
- No 10% owner or 10b5-1 plan noted; transactions reflect vesting/withholding activity, not a discretionary large purchase or gift.
Context
- This was primarily a vesting/conversion event (RSUs and earned Performance Units). Some vested shares were automatically sold to cover tax withholding and additional shares were sold on the open market; the filing shows conversion entries (derivative exercise/settlement) and related withholding/sales.
- Such automated sell-to-cover transactions are routine following vesting and do not necessarily indicate a change in insider sentiment.
Insider Transaction Report
Form 4
Maddock Kevin
EVP,ChiefRecurringRev.Officer
Transactions
- Exercise/Conversion
Common Stock
2026-05-06+16,194→ 216,485 total - Exercise/Conversion
Common Stock
[F1]2026-05-06+4,534→ 221,019 total - Sale
Common Stock
[F2]2026-05-06$3.94/sh−5,845$23,004→ 215,174 total - Sale
Common Stock
[F3]2026-05-06$3.94/sh−1,640$6,454→ 213,534 total - Exercise/Conversion
Restricted Stock Units
[F4][F5]2026-05-06−16,194→ 16,195 total→ Common Stock (16,194 underlying) - Exercise/Conversion
Performance Units
[F6][F7]2026-05-06−4,534→ 4,534 total→ Common Stock (4,534 underlying)
Footnotes (7)
- [F1]Represents one-third of the total 13,602 "Earned Performance Units" (as previously reported by the Reporting Person on a Form 4 dated March 3, 2025) under the terms of the Issuer's 2013 Long-Term Incentive Plan based upon the Issuer's achievement against a target "Adjusted EBITDA" goal for fiscal year 2024 and the Issuer's achievement against a target "Total Revenue" performance goal for fiscal year 2024, effective as of February 27, 2025 (the date the Issuer filed its Annual Report on Form 10-K for the year ended December 31, 2024).
- [F2]Reported transaction is an automatically-triggered "sell-to-cover" transaction related to the payment of withholding tax obligations pursuant to the Issuer's policy for tax withholdings associated with Restricted Stock Unit vesting events. The Reporting Person did not initiate the sale.
- [F3]Reported transaction is an automatically-triggered "sell-to-cover" transaction related to the payment of withholding tax obligations pursuant to the Issuer's policy for tax withholdings associated with Performance Unit vesting events. The Reporting Person did not initiate the sale.
- [F4]Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
- [F5]On May 6, 2024, the Reporting Person was granted 48,582 Restricted Stock Units, one-third of which vested on May 6, 2025 and one-third of which vested on May 6, 2026. The remaining one-third will vest on May 6, 2027, 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.
- [F6]Each Performance Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
- [F7]One-third of the "Earned Performance Units" vested on May 6, 2025, and one-third of the "Earned Performance Units" vested on May 6, 2026. The remaining one-third will vest on May 6, 2027, 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.
Signature
/s/ Celeste Rasmussen Peiffer, as Attorney-in-Fact|2026-05-08