Hershkowitz Steven 4

What Happened Steven Hershkowitz, EVP & Chief Revenue Officer of Rimini Street (RMNI), had vested equity convert into common stock on March 4, 2026. He received 11,493 shares from restricted stock units and 5,632 shares from earned performance units (17,125 total) at $0 upon vesting. To satisfy tax withholding, an automatic "sell-to-cover" sold 3,485 and 1,708 shares at $3.64 per share, yielding $12,695 and $6,222 respectively (total proceeds $18,917). The sell-to-cover transactions were automatic and were not initiated by the reporting person.

Key Details

• Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (timely).
• Vested/converted (derivative exercise/conversion): 11,493 RSU shares and 5,632 performance-unit shares (acquired at $0).
• Shares sold (sell-to-cover): 3,485 + 1,708 = 5,193 shares at $3.64, total proceeds $18,917.
• Footnotes: sales were automatic sell-to-cover for tax withholding (F1, F3). One-third of the 16,896 earned performance units vested (F2, F7); one-third of 34,482 RSUs vested (F5, F4). Each RSU/Performance Unit converts to one common share on vesting (F4, F6).
• Shares owned after transaction: not specified in the filing.
• Filing timeliness: filed within two business days of the transaction date (no late filing indicated).

Context These transactions reflect routine vesting of equity awards and automatic sell-to-cover tax withholding rather than discretionary open-market selling. The filings show conversion of restricted stock units and performance units into shares (derivative exercise/conversion), with a portion automatically sold to cover tax obligations; the remaining vested shares were retained by the insider.