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. on October 1, 2020. The filing discloses the appointment of a new Chief Financial Officer and related compensatory arrangements effective as of the report date.
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 personnel changes and compensation details.
Material Changes
Effective October 1, 2020, the Company appointed Michael Perica as Executive Vice President and Chief Financial Officer. Mr. Perica will serve as the principal financial officer, while Stanley Mbugua continues as the principal accounting officer.
Compensation and Equity Awards
- Base Salary: $300,000 annually (prorated for 2020).
- Target Incentive: $200,000 annually (prorated for 2020).
- Stock Options: 50,000 shares with an exercise price of $3.22 per share, vesting over three years.
- Restricted Stock Units (RSUs): 100,000 shares, vesting over three years.
Outlook and Risks
The filing does not contain updated financial guidance, management commentary on future performance, or specific risk factors beyond standard regulatory disclosures regarding the new executive appointment.
Investor Verification Checklist
- Verify the vesting schedule and performance conditions for the 150,000 total equity units granted to the new CFO.
- Confirm the impact of the new CFO's appointment on the Company's financial reporting timeline and internal controls.
- Review the full text of the Offer Letter (Exhibit 10.1) for any additional severance or change-in-control provisions.