Seth A. Ravin - 03 Apr 2024 Form 4 Insider Report for Rimini Street, Inc. (RMNI)

Role
President, CEO & Chairman, Director, 10%+ Owner
Signature
/s/ Celeste Rasmussen Peiffer, as Attorney-in-Fact
Issuer symbol
RMNI
Transactions as of
03 Apr 2024
Transactions value $
$0
Form type
4
Filing time
05 Apr 2024, 20:32:42 UTC
Previous filing
05 Mar 2024
Next filing
08 Apr 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RMNI Common Stock Options Exercise $0 +76.3K +31.86% $0.00 316K 03 Apr 2024 Direct
transaction RMNI Common Stock Options Exercise $0 +192K +60.81% $0.00 508K 03 Apr 2024 Direct
holding RMNI Common Stock 10.5M 03 Apr 2024 Through the SAR Trust

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction RMNI Restricted Stock Units Options Exercise $0 -76.3K -33.33% $0.00 153K 03 Apr 2024 Common Stock 76.3K Direct F1, F2
transaction RMNI Performance Units Options Exercise $0 -192K -33.33% $0.00 384K 03 Apr 2024 Common Stock 192K Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
F2 On April 3, 2023 the Reporting Person was granted 229,007 Restricted Stock Units, one-third of which vested on April 3, 2024. The remaining two-thirds vest ratably on April 3, 2025 and 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 applicable vesting date.
F3 Each Performance Unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.
F4 Represents "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 of a target total revenue 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).
F5 One-third of the "Earned Performance Units" vested on April 3, 2024. The remaining two-thirds vest ratably on April 3, 2025 and 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 applicable vesting date.