Rimini Street, Inc. 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed on February 25, 2022, reporting events that occurred on February 22, 2022. Rimini Street, Inc. is a Delaware corporation with its principal executive offices in Las Vegas, Nevada. The company's common stock trades on the Nasdaq Global Market under the symbol RMNI.
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 adjustments.
Material Changes
The primary material change reported is the approval by the Compensation Committee of increased base salary and eligible annual target bonus compensation for three executive officers, effective February 22, 2022:
- Seth A. Ravin (CEO and Chairman): Total increase of $100,000.
- Gerard Brossard (COO): Total increase of $75,000.
- Michael Perica (EVP and CFO): Total increase of $50,000.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, outlook, management commentary on future performance, specific risks, contingencies, or unusual items beyond the compensation adjustments.
Investor Verification Points
- Verify the effective date of the salary and bonus increases for the named executives.
- Review the company's most recent 10-K or 10-Q to understand the impact of these compensation increases on total executive pay relative to historical performance.
- Confirm the current trading status of the Public Units (RMNIU) and Warrants (RMNIW) listed on the OTC Pink Current Information Marketplace.