Kevin Maddock, who serves as Executive Vice President of Rimini Street (NASDAQ: RMNI), reported the sale of 2,809 shares of common stock on March 3, 2026. The shares were transacted at a per-share price of $3.7187, yielding a total sale value of $10,445.
The transaction was disclosed on a Form 4 filed with the Securities and Exchange Commission and was identified as a sale executed to cover tax obligations arising from the vesting of restricted stock units. The filing also shows that upon vesting, Maddock received 6,667 shares of common stock at a price of $0.
At the time of the reported sale, the company’s stock was trading at a price-to-earnings ratio of 9.53. The company has been profitable over the last twelve months, according to the details cited in the filing and accompanying notes.
InvestingPro analysis referenced in the filing indicates that Rimini Street may appear undervalued at current market levels. The analysis is noted as part of a broader Pro Research Report that covers RMNI alongside more than 1,400 other U.S. equities. The filing does not provide additional valuation metrics beyond the P/E noted above and the InvestingPro observation.
Partnership update with Tidewater
In related corporate developments, Tidewater Inc. has expanded its existing partnership with Rimini Street. What began as a support arrangement focused on Oracle PeopleSoft ERP systems in Brazil has been extended to encompass Tidewater’s global operations. The scope of Rimini Street’s services now includes support for Tidewater’s SAP systems, and a new tax software solution has been rolled out across Tidewater’s worldwide operations.
The expanded engagement is described as an effort to enhance Tidewater’s global ERP support and operational processes. The filing indicates these developments are intended to leverage Rimini Street’s ERP support expertise across a broader geographic footprint and additional enterprise systems.
What is clear from the disclosures
- The insider sale by Maddock was explicitly to cover tax liabilities related to vested restricted stock units.
- Rimini Street reported profitability over the last twelve months and a P/E of 9.53 at the time of the transaction.
- Tidewater’s partnership with Rimini Street has been broadened from a regional PeopleSoft arrangement to global support that includes SAP and a new tax software deployment.
Where the public record remains limited, the filings provide the transaction specifics and a description of the expanded client engagement but do not quantify the financial terms of the Tidewater contract or provide further commentary from either company.