Transaction details and context
Rimini Street (NASDAQ: RMNI) Executive Vice President and Chief Financial Officer Michael L. Perica sold 24,879 shares of the company's common stock on March 4, 2026, at a per-share price of $3.6428. The reported proceeds from that disposition were approximately $90,629. At the time of the sale RMNI shares were trading at $3.62, a level that is 33% below the company's 52-week high of $5.38. An InvestingPro analysis referenced in company disclosures indicates the stock may be undervalued at its then-current price.
Reason for the sale and simultaneous vesting events
The company said the share sale was executed in connection with the payment of withholding tax obligations under Rimini Street's policy governing tax withholdings tied to Restricted Stock Unit and Performance Unit vesting events. The filing specifies that Perica did not initiate the sales himself.
Also on March 4, 2026, Perica was issued 38,313 shares of common stock upon the vesting of Restricted Stock Units and 18,774 shares of common stock upon the vesting of Performance Units. Those vested shares were recorded at a price of $0, reflecting their issuance as part of compensation vesting rather than a purchase.
Research and reporting availability
The company's disclosure points investors to a more detailed Pro Research Report produced by InvestingPro, noting that comparable reports are available for this name and more than 1,400 other U.S. equities.
Related corporate development - Tidewater partnership
In separate news, Rimini Street announced an expansion of its partnership with Tidewater Inc. The relationship originally targeted support for Tidewater's Oracle PeopleSoft ERP deployment in Brazil. Under the expanded agreement Rimini Street will extend support to Tidewater's SAP systems on a global basis. Rimini Street also implemented a new tax software solution across Tidewater's worldwide operations.
The company said the broader scope follows successful outcomes from the initial phase of the collaboration and is intended to support Tidewater's efforts to enhance operational efficiency across its global fleet. The filing framed the expansion as a continuation of efforts to leverage Rimini Street's ERP support services and tax software capabilities.
What is known and what is not
The disclosures make clear the sale was a mechanical step to meet withholding tax obligations tied to equity vesting and that Perica did not trigger the sale himself. The filings also document the simultaneous issuance of vested shares to Perica at no cash cost. Beyond those items and the Tidewater announcement, the company filings cited provide no additional forward-looking statements or projections.