Recent Updates — RMNI
Rimini Street, Inc. approved equity incentive awards for Executive Vice President and Chief Revenue Officer Steven Hershkowitz on October 1, 2026, to restore shares forfeited upon his September 8 resignation. The package includes 210,084 stock options exercisable at $4.29 per share, 233,180 restricted stock units, and 32,258 performance units tied to fiscal year 2026 adjusted EBITDA and revenue targets. Hershkowitz was reinstated to his previous duties on September 14, 2026. The company operates in the enterprise software industry, providing third-party support services for Oracle, SAP, and other business applications.
Rimini Street announced the reinstatement of Steven Hershkowitz as Executive Vice President and Chief Revenue Officer, effective September 14, 2026. This follows his resignation on September 8, 2026, and restores him to duties previously transferred to Chief Operating Officer Keith Costello. The Board approved a base salary of $480,000 and an annual incentive compensation opportunity of $320,000.16 based on 100% attainment. Hershkowitz brings prior experience as CRO at Virtana Corporation and senior roles at Hewlett Packard Enterprise. Rimini Street operates in the enterprise software industry, providing third-party support services for Oracle, SAP, and Microsoft applications.
Steven Hershkowitz resigned as Executive Vice President and Chief Revenue Officer effective September 8, 2026, to pursue another opportunity. His responsibilities were transferred to Keith Costello, the Company’s Executive Vice President and Chief Operating Officer. Rimini Street operates in the software industry, providing third-party support services for enterprise applications.
Rimini Street appointed Keith C. Costello as Executive Vice President and Chief Operating Officer, effective August 17, 2026. Mr. Costello receives an annual base salary of $460,000 and a target cash bonus equal to 81.74% of his salary. He is granted onboarding equity awards consisting of 150,000 stock options and 150,000 restricted stock units, each vesting over three years. The company operates in the enterprise software industry, providing third-party support services for Oracle, SAP, and Microsoft applications.
Rimini Street reported fiscal second quarter 2026 results with revenue of $111.1 million, a 6.7% increase year-over-year, and adjusted revenue of $108.0 million, up 10.0%. Adjusted Annualized Recurring Revenue rose 8.1% to $401.1 million, while Remaining Performance Obligations increased 8.0% to $636.9 million. The company ended the quarter with $123.4 million in cash and reduced outstanding debt to $48.4 million after prepaying $10 million. Rimini Street reiterated its full-year revenue growth guidance of 4% to 6% and Adjusted EBITDA margins of 12.5% to 15.5%. The company operates as a global provider of enterprise software support, managed services, and Agentic AI ERP innovation solutions.