Rimini Street Inc. (NASDAQ: RMNI) reported an automatically-triggered sale by Executive Vice President and Chief Marketing Officer David W. Rowe on March 4, 2026. The transaction consisted of 7,209 shares of common stock sold at $3.6428 per share, producing gross proceeds of $26,260.
The sale was carried out as a "sell-to-cover" operation tied to the company’s tax-withholding policy for equity awards. Rimini Street states these transactions occur to satisfy withholding tax obligations related to the vesting of Restricted Stock Units (RSUs) and Performance Units. In this instance, the trades were not initiated by Rowe.
On the same date, Rowe received 11,493 shares of common stock from vested Restricted Stock Units and 5,632 shares from vested Performance Units. Those 17,125 vested shares were allocated with a reported price of $0 to Rowe at the time of vesting.
Market context included a reported trading price of $3.62 for Rimini Street shares, which the article notes is down 6.7% year-to-date. Separately, InvestingPro analysis discussed in the company’s reporting suggests the stock may be undervalued at current levels. According to InvestingPro data cited, Rimini Street posted profitability over the most recent twelve-month period with earnings per share of $0.39, and the company is included in a comprehensive Pro Research Report for subscribers.
In corporate developments that appear alongside the insider transaction, Rimini Street expanded a services engagement with Tidewater Inc. that initially focused on Oracle PeopleSoft ERP support in Brazil. The scope of the partnership has since grown to encompass Tidewater’s global operations. As part of the broader relationship, Rimini Street has begun providing support for Tidewater’s SAP systems and has deployed a new tax software solution across Tidewater’s worldwide operations.
The company characterized the expansion as a consequential progression from the Brazil pilot, where initial outcomes prompted the extension of services to additional systems and geographies. Those developments were framed as steps in Tidewater’s operational evolution achieved through strategic collaboration with Rimini Street.
Summary of the transaction and related items:
- Transaction type: Automatically-triggered sell-to-cover sale to meet withholding tax obligations.
- Sale details: 7,209 shares sold at $3.6428 per share for total proceeds of $26,260.
- Vesting details: 11,493 shares from RSUs and 5,632 shares from Performance Units vested the same day, with those shares recorded at a price of $0.
Rimini Street’s reported profitability metric from InvestingPro and the Tidewater contract expansion were included in company-linked disclosures accompanying the insider activity. The available information does not attribute any voluntary selling decision to the executive, and the transaction is described as a mechanism to address tax obligations stemming from equity vesting events.