Ravin Seth A., who serves as President, Chief Executive Officer, and Chairman of Rimini Street, Inc. (NASDAQ:RMNI), was involved in a sequence of equity transactions on April 3, 2026 that combined automatic sales and vesting events.
On that date, Ravin sold a total of 111,293 shares of Rimini Street common stock in two transactions. The sales were executed at a per-share price of $3.3499 and together amounted to $372,820. The two individual dispositions consisted of 31,650 shares and 79,643 shares, respectively. The reported sale price is close to the prevailing market quote of $3.34, with the companys shares having declined by approximately 14 percent year-to-date.
Also on April 3, Ravin received shares as previously awarded equity vested. He acquired 76,338 shares through the vesting of Restricted Stock Units and 192,117 shares through the vesting of Performance Units. Those vested awards were recorded at a price of $0.
Rimini Street reported that the sales were automatic, sell-to-cover transactions triggered to satisfy withholding tax obligations associated with the vesting events. Company disclosures indicate that Ravin did not initiate the sales personally. After accounting for the vesting and the automatic sell-to-cover transactions, Ravin directly holds 797,488 shares of Rimini Street common stock and indirectly holds 10,491,309 shares through the SAR Trust.
Separately, Rimini Street disclosed corporate finance activity in a press release indicating a $10.9 million reduction in outstanding debt during the first quarter of 2026. That reduction lowered the companys outstanding term loan balance to $58.4 million as of March 31, 2026. The company also amended its credit agreement to permit increased repurchases of its stock. Those items were presented in the companys disclosure materials.
In addition, analysis from InvestingPro noted that RMNI appears undervalued at current price levels, based on the services assessment that the company has been profitable over the past twelve months and holds more cash than debt. Investors interested in a deeper review were referred to the InvestingPro Pro Research Report covering RMNI.
Summary of transactions
- Sales on April 3, 2026: 111,293 shares sold in two tranches at $3.3499 per share, totaling $372,820.
- Vesting on April 3, 2026: 76,338 Restricted Stock Units and 192,117 Performance Units vested, recorded at $0.
- Ownership after transactions: 797,488 shares directly, 10,491,309 shares indirectly through SAR Trust.