Maddock Kevin 4

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.