Ravin Seth A. 4
4 · Rimini Street, Inc. · Filed Apr 7, 2026
Research Summary
AI-generated summary of this filing
Rimini Street (RMNI) 10% Owner Seth Ravin Converts 268,455 Units
What Happened
Seth A. Ravin, a 10% owner of Rimini Street, Inc. (RMNI), exercised/converted vested derivative awards on April 3, 2026 and received a total of 268,455 shares: 76,338 shares from restricted stock units (RSUs) and 192,117 shares from earned performance units. Each conversion was recorded at $0.00 per share (these were vesting/conversion events rather than market purchases or sales). Parallel "disposed" entries in the filing reflect the cancellation/conversion of the underlying derivative units upon conversion to common stock.
Key Details
- Transaction date: April 3, 2026; Form 4 filed April 7, 2026 (timely filing).
- Transaction code: M (exercise or conversion of derivative).
- Shares acquired: 76,338 RSU-based shares and 192,117 performance-unit-based shares (total 268,455). Price: $0.00 per share (vested/converted).
- Shares owned after transaction: not specified in the provided excerpt of the filing.
- Footnotes: the shares represent one-third tranches of previously reported awards — one-third of 229,007 RSUs and one-third of 576,335 earned performance units that vested per the issuer’s LTIP/award terms. Each RSU/Performance Unit converts to one common share upon vesting.
- No open-market sale or purchase was reported in this filing; these were vesting/conversion events, not market transactions.
Context
Conversion of RSUs and performance units into common stock is a routine compensation/vesting event and does not necessarily signal insider buying or selling intent. Because these were awards that vested and converted into shares at $0, no cash changed hands. As a 10% owner, Ravin’s holdings can be material to his ownership stake, but this filing only documents the issuance/conversion of vested units, not an active buy or sell in the market.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-04-03+76,338→ 716,664 total - Exercise/Conversion
Common Stock
[F1]2026-04-03+192,117→ 908,781 total - Exercise/Conversion
Restricted Stock Units
[F2][F3]2026-04-03−76,338→ 0 total→ Common Stock (76,338 underlying) - Exercise/Conversion
Performance Units
[F4][F5]2026-04-03−192,117→ 0 total→ Common Stock (192,117 underlying)
- 10,491,309(indirect: By Trust)
Common Stock
Footnotes (5)
- [F1]Represents one-third of the total 576,335 "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 229,007 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.