Rimini Street, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Rimini Street, Inc. (RMNI) on August 12, 2026, reporting events occurring on August 8, 2026. The filing discloses the appointment of a new senior executive officer to the Company's leadership team.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on executive compensation and appointment details.
Material Changes
The primary material change reported is the appointment of Keith C. Costello as Executive Vice President and Chief Operating Officer, effective August 17, 2026. Mr. Costello joins from DXC Technology, where he most recently served as President of Enterprise Applications, Technology, Consulting and Engineering Services.
Management Commentary, Compensation, and Risks
Compensation Package:
- Base Salary: $460,000 annually (prorated for 2026).
- Target Incentive: 81.74% of annual base salary under the Cash Bonus Plan.
- Long-Term Incentives (LTI): Eligible beginning in 2027; total grant date value at target set to 50% of the CEO's LTI value.
- Onboarding Equity:
- 150,000 stock options vesting in equal installments over three years.
- 150,000 Restricted Stock Units (RSUs) vesting in equal installments over three years.
Severance Provisions:
- Termination without Cause/Good Reason (Pre-Change of Control): 12 months of base salary, 12 months of target annual incentive, and 12 months of COBRA health insurance premiums.
- Termination without Cause/Good Reason (Post-Change of Control): Includes 100% vesting of then-outstanding unvested equity awards.
Risks and Contingencies: The filing notes that the description of the Offer Letter is qualified by reference to the full text attached as Exhibit 10.1. No specific financial risks or contingencies are detailed in this report.
Key Facts for Investor Verification
- Verify the exact vesting schedule and performance conditions for the 150,000 stock options and 150,000 RSUs granted to Mr. Costello.
- Confirm the specific "Fair Market Value" used for the stock option exercise price based on the August 17, 2026 closing price.
- Review the full Offer Letter (Exhibit 10.1) for detailed definitions of "Cause," "Good Reason," and "Change of Control."
- Monitor future filings for the specific dollar value of the CEO's LTI plan to calculate Mr. Costello's 2027 LTI target value.