Perica Michael L. 4

What Happened

• Michael L. Perica, CFO of Rimini Street (RMNI), had vested restricted stock units and performance units converted into shares (reported as exercise/conversion of derivatives) on May 6, 2026. He received 53,980 shares from RSU vesting and 15,115 shares from performance‑unit vesting (total 69,095 shares) at an effective cost of $0.00 per share.
• To satisfy tax withholding obligations, two automatic sell‑to‑cover transactions occurred the same day: 21,666 shares sold at $3.94 for $85,269 and 6,071 shares sold at $3.94 for $23,893, totaling $109,162 in proceeds. The reporting person did not initiate these sales.

Key Details

• Transaction date: May 6, 2026; Form 4 filed May 8, 2026.
• Conversion/acquisition: 53,980 RSU shares and 15,115 Performance Unit shares at $0.00 (derivative exercise/conversion).
• Sales (sell‑to‑cover): 21,666 shares @ $3.94 ($85,269) and 6,071 shares @ $3.94 ($23,893); total proceeds $109,162.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: sales were automatically triggered to cover tax withholding (Reporting Person did not initiate); vesting tied to RSU and Performance Unit schedules (grants and earned performance described in footnotes F1–F7).
• Filing timeliness: Form filed two days after the transactions (May 8 for May 6 activity); no late filing indicated in the provided data.

Context

• These transactions are compensation‑related (vesting/conversion of RSUs and performance units) with automatic "sell‑to‑cover" tax withholding—common routine transactions that convert awards into shares and sell a portion to pay taxes. They are not discretionary open‑market sales initiated by the insider and therefore do not necessarily signal a deliberate investment view.