RIMINI STREET CEO Seth Ravin Sells $1.7M in Stock Over Three Days
Founder and chairman Seth Ravin sold 322,707 Rimini Street shares between 2 and 4 September, leaving him with just over 10.1 million shares.
Rimini Street (RMNI) disclosed in a Form 4 filing with the Securities and Exchange Commission that founder, President, CEO and chairman Seth A. Ravin sold 322,707 common shares on the open market over three consecutive trading days. The combined value of the transactions was roughly $1.66 million.
The first and largest sale came on 2 September, when Ravin disposed of 191,702 shares at $5.1753 apiece. He followed that with 41,366 shares at $5.1619 on 3 September and another 89,639 shares at $5.0197 on 4 September.
After the final transaction, Ravin still held 10,168,602 shares, down from 10,299,607 immediately after the first sale. He is listed in the filing as a director, officer and 10% owner of the company.
All three transactions carry the code S, which the filing identifies as an open-market sale, as distinct from grants, option exercises or tax withholding, which the SEC classifies as routine compensation events.
The filing gives no reason for the sales and does not indicate whether they were made under a pre-arranged trading plan. Even after the disposals, Ravin remains by far the company's largest individual holder of common stock.
This is a factual summary of a public filing or press release, not investment advice. Verify all figures against the source before acting on them.
