Rimini Street (NASDAQ:RMNI) Executive Vice President and Chief Financial Officer Michael L. Perica sold 28,330 shares of the company's common stock on April 3, 2026, for approximately $94,901. The stock sales were executed at a per-share price of $3.3499 and were reported as two separate transactions - one for 21,280 shares and a second for 7,050 shares.
Also on April 3, 2026, Perica acquired a total of 68,196 shares through the exercise of equity awards. Those transactions comprised 16,964 shares obtained via Restricted Stock Units and 51,232 shares acquired through Performance Units, each recorded at an exercise price of $0.00.
The transactions were disclosed in an amended Form 4 filing, which included automatic "sell-to-cover" transactions tied to tax obligations. The filing makes clear that these automatic sell-to-cover sales were not initiated by Perica and that he did not control the timing of those transactions.
At the time of the reported trades the company's shares were trading at $3.34, close to a 52-week low of $2.87. InvestingPro analysis cited in the filing indicates a Fair Value estimate of $4.46 for the stock.
Separately from the insider transactions, Rimini Street has taken steps to strengthen its balance sheet in the first quarter of 2026. The company reduced outstanding debt by $10.9 million during the quarter, bringing the outstanding amount on its term loan to $58.4 million as of March 31, 2026. In addition, Rimini Street amended its credit agreement to facilitate increased stock repurchases.
Corporate metrics disclosed alongside the transactions show a market capitalization of $307 million and profitability over the past twelve months, with reported earnings per share of $0.39.
Collectively, the insider activity disclosure and the company’s first-quarter balance sheet actions were filed and made public through the amended Form 4 and related corporate filings. The credit amendment and debt reduction were described by the company as part of efforts to manage leverage and provide flexibility for repurchase activity.
The filings do not attach commentary from Perica regarding his personal trading decisions beyond the clarification that the sell-to-cover actions were automatic and outside his control. The company’s adjustments to debt and its credit agreement are presented in the filings as steps intended to improve financial position and to create potential flexibility for shareholder-return initiatives such as buybacks.