Ravin Seth A. 4
4 · Rimini Street, Inc. · Filed May 8, 2026
Research Summary
AI-generated summary of this filing
Rimini Street (RMNI) 10% Owner Seth Ravin Converts Units, Sells Shares
What Happened Seth Ravin, a 10% owner of Rimini Street (RMNI), had vested restricted stock units (RSUs) and performance units convert into 142,509 shares on May 6, 2026 (97,165 RSUs and 45,344 performance units). To cover withholding taxes, an automatic sell-to-cover disposed of 38,928 and 18,169 shares at $3.94 each, yielding total gross proceeds of $224,711. The conversion/vesting entries are reported as exercise/conversion of derivatives at $0.00 per share (these were vested awards converting into common stock, not cash option exercises).
Key Details
- Transaction date: May 6, 2026; Form 4 filed May 8, 2026 (timely).
- Converted/acquired: 97,165 shares (RSUs) and 45,344 shares (earned performance units) at $0.00 = 142,509 shares acquired.
- Sold (automatic sell-to-cover): 38,928 + 18,169 = 57,097 shares at $3.94, total proceeds $224,711.
- Net new shares retained after sell-to-cover (142,509 − 57,097): 85,412 shares added to holdings (based on reported transactions).
- Footnotes: sales were automatic sell-to-cover transactions to satisfy tax withholding (Reporting Person did not initiate the sales). Vesting and grant details referenced in footnotes (one-third tranches, earned performance units, and RSU grant dates).
- Shares owned after the transaction are not disclosed in the provided excerpt.
Context These transactions reflect vesting/conversion of equity awards (RSUs and performance units) and automated sell-to-cover to pay taxes, not an open-market discretionary sell by the insider. Exercise/conversion at $0 indicates receipt of vested units converting to common stock rather than a cash exercise of option strikes. As a 10% owner, Ravin is a significant insider; because the disposition was for tax withholding, it should not be read as a typical discretionary sale signal.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-05-06+97,165→ 894,653 total - Exercise/Conversion
Common Stock
[F1]2026-05-06+45,344→ 939,997 total - Sale
Common Stock
[F2]2026-05-06$3.94/sh−38,928$153,205→ 901,069 total - Sale
Common Stock
[F3]2026-05-06$3.94/sh−18,169$71,506→ 882,900 total - Exercise/Conversion
Restricted Stock Units
[F4][F5]2026-05-06−97,165→ 97,168 total→ Common Stock (97,165 underlying) - Exercise/Conversion
Performance Units
[F6][F7]2026-05-06−45,344→ 45,344 total→ Common Stock (45,344 underlying)
- 10,491,309(indirect: By Trust)
Common Stock
Footnotes (7)
- [F1]Represents one-third of the total 136,032 "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 291,497 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.