Kevin Maddock, who serves as Executive Vice President and Chief Recurring Revenue Officer at Rimini Street, Inc. (NASDAQ:RMNI), was party to a set of equity transactions on March 4, 2026. On that date, 7,209 shares of Rimini Street common stock were sold at a price of $3.6428 per share, producing gross proceeds of $26,260.
Concurrently, Maddock acquired 17,125 shares of common stock through the exercise of Restricted Stock Units and Performance Units. The sales of 7,209 shares were "sell-to-cover" transactions that were triggered automatically to satisfy withholding tax obligations; the company notes that Maddock did not initiate those sales.
After these combined actions - the automatic sales and the exercise-related acquisitions - Maddock directly owns 187,478 shares of Rimini Street common stock.
In separate corporate developments, Rimini Street has deepened its work with Tidewater Inc. The initial collaboration focused on supporting Tidewater's Oracle PeopleSoft ERP system in Brazil. Following positive outcomes from that engagement, the relationship has been expanded to include support for Tidewater's SAP systems as well.
Rimini Street has also implemented a new tax software solution across Tidewater's worldwide operations. According to the account of the expansion, these changes represent a notable enhancement in Tidewater's operational capabilities and reflect a strengthened relationship between the two companies, aimed at optimizing Tidewater's global operations and leveraging technology for improved efficiency.
Both the insider transaction involving Maddock and the operational expansion with Tidewater are presented as factual items. The stock sale was an automatic mechanism tied to tax withholding rather than a voluntary disposition initiated by the executive, and the Tidewater engagement was broadened from a Brazil-focused PeopleSoft deployment to encompass SAP support and a global tax software rollout.