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STOCK TITAN

[Form 4] PubMatic, Inc. Insider Trading Activity

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

PubMatic, Inc. (PUBM) � Form 4 insider transaction

On 07/07/2025, CEO, Director and 10% owner Rajeev K. Goel exercised fully-vested options for 11,485 Class B shares at an exercise price of $1.11, automatically converting them to Class A shares. The same day he sold 44,000 Class A shares at a weighted-average price of $12.5314 under a Rule 10b5-1 trading plan adopted 03/02/2025. Gross proceeds were roughly $0.55 million.

After the transactions, the filing discloses that Mr. Goel continues to own 2,362,194 Class A and Class B shares (excluding unexercised or unvested awards) and 346,617 options. Additional holdings are spread across multiple family trusts and custodial accounts as detailed in the footnotes.

The sale represents a small fraction of his total reported ownership and appears to be part of ongoing, pre-scheduled diversification rather than an abrupt reduction in exposure.

PubMatic, Inc. (PUBM) � Transazione interna Form 4

Il 07/07/2025, il CEO, Direttore e proprietario del 10% Rajeev K. Goel ha esercitato opzioni completamente maturate per 11.485 azioni di Classe B al prezzo di esercizio di $1,11, convertendole automaticamente in azioni di Classe A. Nello stesso giorno ha venduto 44.000 azioni di Classe A a un prezzo medio ponderato di $12,5314 nell'ambito di un piano di trading Rule 10b5-1 adottato il 02/03/2025. I proventi lordi sono stati di circa 0,55 milioni di dollari.

Dopo le transazioni, il documento rivela che il Sig. Goel continua a detenere 2.362.194 azioni di Classe A e B (escludendo premi non esercitati o non maturati) e 346.617 opzioni. Ulteriori partecipazioni sono distribuite tra diversi trust familiari e conti fiduciari come dettagliato nelle note a piè di pagina.

La vendita rappresenta una piccola frazione del totale delle sue partecipazioni dichiarate e sembra far parte di una diversificazione programmata e continua piuttosto che di una riduzione improvvisa dell'esposizione.

PubMatic, Inc. (PUBM) � Transacción interna Formulario 4

El 07/07/2025, el CEO, Director y propietario del 10% Rajeev K. Goel ejerció opciones totalmente adquiridas para 11,485 acciones Clase B a un precio de ejercicio de $1.11, convirtiéndolas automáticamente en acciones Clase A. Ese mismo día vendió 44,000 acciones Clase A a un precio promedio ponderado de $12.5314 bajo un plan de negociación Rule 10b5-1 adoptado el 02/03/2025. Los ingresos brutos fueron aproximadamente $0.55 millones.

Tras las transacciones, el informe revela que el Sr. Goel sigue poseyendo 2,362,194 acciones Clase A y B (excluyendo premios no ejercidos o no adquiridos) y 346,617 opciones. Tenencias adicionales están distribuidas en varios fideicomisos familiares y cuentas fiduciarias, según se detalla en las notas al pie.

La venta representa una pequeña fracción de su propiedad total reportada y parece ser parte de una diversificación continua y programada, en lugar de una reducción abrupta de su exposición.

PubMatic, Inc. (PUBM) � Form 4 내부� 거래

2025� 7� 7�, CEO이자 이사이며 10% 지� 보유자인 Rajeev K. Goel� 완전� 취득� 옵션 11,485� 클래� B 주식� 행사가 $1.11� 행사하여 자동으로 클래� A 주식으로 전환했습니다. 같은 � 그는 44,000� 클래� A 주식2025� 3� 2� 채택� Rule 10b5-1 거래 계획� 따라 가중평� 가� $12.5314� 매도했습니다. � 수익은 � 55� 달러였습니�.

거래 �, 보고서에 따르� Goel 씨는 미행� 또는 미취� 보상� 제외하고 2,362,194� 클래� A � B 주식346,617 옵션� 계속 보유하고 있습니다. 추가 보유분은 여러 가� 신탁 � 관� 계좌� 분산되어 있으�, 자세� 내용은 각주� 명시되어 있습니다.

이번 매도� 그의 � 보유 지분의 일부� 불과하며, 갑작스러� 노출 축소보다� 예정� 다각화의 일환으로 보입니다.

PubMatic, Inc. (PUBM) � Transaction d’initié Formulaire 4

Le 07/07/2025, le PDG, directeur et détenteur de 10% Rajeev K. Goel a exercé des options entièrement acquises pour 11 485 actions de classe B au prix d’exercice de 1,11 $, les convertissant automatiquement en actions de classe A. Le même jour, il a vendu 44 000 actions de classe A à un prix moyen pondéré de 12,5314 $ dans le cadre d’un plan de trading Rule 10b5-1 adopté le 02/03/2025. Le produit brut s’élève à environ 0,55 million de dollars.

Après ces transactions, le dépôt révèle que M. Goel possède toujours 2 362 194 actions de classe A et B (hors récompenses non exercées ou non acquises) ainsi que 346 617 options. Des avoirs supplémentaires sont répartis entre plusieurs trusts familiaux et comptes de garde, comme détaillé en notes de bas de page.

Cette vente représente une petite fraction de sa propriété totale déclarée et semble faire partie d’une diversification programmée et continue plutôt que d’une réduction brutale de son exposition.

PubMatic, Inc. (PUBM) � Form 4 Insider-Transaktion

Am 07.07.2025 übte der CEO, Direktor und 10%-Eigentümer Rajeev K. Goel vollständig erworbene Optionen für 11.485 Class-B-Aktien zum Ausübungspreis von 1,11 $ aus, die automatisch in Class-A-Aktien umgewandelt wurden. Am selben Tag verkaufte er 44.000 Class-A-Aktien zu einem gewichteten Durchschnittspreis von 12,5314 $ im Rahmen eines Rule 10b5-1 Handelsplans, der am 02.03.2025 angenommen wurde. Der Bruttoerlös betrug etwa 0,55 Millionen Dollar.

Nach den Transaktionen gibt die Meldung an, dass Herr Goel weiterhin 2.362.194 Class-A- und Class-B-Aktien (ohne nicht ausgeübte oder nicht erworbene Awards) sowie 346.617 Optionen besitzt. Weitere Beteiligungen sind auf mehrere Familienstiftungen und Treuhandkonten verteilt, wie in den Fußnoten erläutert.

Der Verkauf stellt einen kleinen Teil seines insgesamt gemeldeten Besitzes dar und scheint Teil einer fortlaufenden, vorab geplanten Diversifizierung zu sein, statt einer abrupten Reduzierung der Beteiligung.

Positive
  • Sale executed under a pre-established Rule 10b5-1 plan, reducing concerns about opportunistic trading.
  • CEO retains a substantial ownership stake of 2,362,194 shares, aligning interests with shareholders.
  • Options exercised at $1.11 indicate deep in-the-money value, signalling confidence in long-term equity appreciation.
Negative
  • CEO sold 44,000 Class A shares for $12.53 each, representing cashing out of approximately $0.55 M.
  • Direct Class A holding decreased by 44,000 shares, marginally reducing immediate insider ownership visibility.

Insights

TL;DR: Modest, pre-planned CEO sale; limited signalling impact.

The 44,000-share sale (~$0.55 M) is minor versus Mr. Goel’s >2.3 M-share stake. Execution under a 10b5-1 plan and simultaneous option exercise suggest routine liquidity rather than negative sentiment. No change to overall control structure; multiple trusts retain sizeable Class B positions that convert one-for-one to Class A upon transfer. From a valuation perspective, this filing is informational with negligible earnings or balance-sheet ramifications.

TL;DR: Governance-compliant trade; ownership influence unchanged.

The filing demonstrates adherence to Section 16 reporting and Rule 10b5-1 safeguards. Despite the sale, Mr. Goel remains a significant insider with board and executive control, holding >2 M shares plus options. The use of family trusts, custodian accounts and uniform Class B-to-A conversion terms maintains transparency. No red flags emerge regarding fiduciary alignment or concentration risk.

PubMatic, Inc. (PUBM) � Transazione interna Form 4

Il 07/07/2025, il CEO, Direttore e proprietario del 10% Rajeev K. Goel ha esercitato opzioni completamente maturate per 11.485 azioni di Classe B al prezzo di esercizio di $1,11, convertendole automaticamente in azioni di Classe A. Nello stesso giorno ha venduto 44.000 azioni di Classe A a un prezzo medio ponderato di $12,5314 nell'ambito di un piano di trading Rule 10b5-1 adottato il 02/03/2025. I proventi lordi sono stati di circa 0,55 milioni di dollari.

Dopo le transazioni, il documento rivela che il Sig. Goel continua a detenere 2.362.194 azioni di Classe A e B (escludendo premi non esercitati o non maturati) e 346.617 opzioni. Ulteriori partecipazioni sono distribuite tra diversi trust familiari e conti fiduciari come dettagliato nelle note a piè di pagina.

La vendita rappresenta una piccola frazione del totale delle sue partecipazioni dichiarate e sembra far parte di una diversificazione programmata e continua piuttosto che di una riduzione improvvisa dell'esposizione.

PubMatic, Inc. (PUBM) � Transacción interna Formulario 4

El 07/07/2025, el CEO, Director y propietario del 10% Rajeev K. Goel ejerció opciones totalmente adquiridas para 11,485 acciones Clase B a un precio de ejercicio de $1.11, convirtiéndolas automáticamente en acciones Clase A. Ese mismo día vendió 44,000 acciones Clase A a un precio promedio ponderado de $12.5314 bajo un plan de negociación Rule 10b5-1 adoptado el 02/03/2025. Los ingresos brutos fueron aproximadamente $0.55 millones.

Tras las transacciones, el informe revela que el Sr. Goel sigue poseyendo 2,362,194 acciones Clase A y B (excluyendo premios no ejercidos o no adquiridos) y 346,617 opciones. Tenencias adicionales están distribuidas en varios fideicomisos familiares y cuentas fiduciarias, según se detalla en las notas al pie.

La venta representa una pequeña fracción de su propiedad total reportada y parece ser parte de una diversificación continua y programada, en lugar de una reducción abrupta de su exposición.

PubMatic, Inc. (PUBM) � Form 4 내부� 거래

2025� 7� 7�, CEO이자 이사이며 10% 지� 보유자인 Rajeev K. Goel� 완전� 취득� 옵션 11,485� 클래� B 주식� 행사가 $1.11� 행사하여 자동으로 클래� A 주식으로 전환했습니다. 같은 � 그는 44,000� 클래� A 주식2025� 3� 2� 채택� Rule 10b5-1 거래 계획� 따라 가중평� 가� $12.5314� 매도했습니다. � 수익은 � 55� 달러였습니�.

거래 �, 보고서에 따르� Goel 씨는 미행� 또는 미취� 보상� 제외하고 2,362,194� 클래� A � B 주식346,617 옵션� 계속 보유하고 있습니다. 추가 보유분은 여러 가� 신탁 � 관� 계좌� 분산되어 있으�, 자세� 내용은 각주� 명시되어 있습니다.

이번 매도� 그의 � 보유 지분의 일부� 불과하며, 갑작스러� 노출 축소보다� 예정� 다각화의 일환으로 보입니다.

PubMatic, Inc. (PUBM) � Transaction d’initié Formulaire 4

Le 07/07/2025, le PDG, directeur et détenteur de 10% Rajeev K. Goel a exercé des options entièrement acquises pour 11 485 actions de classe B au prix d’exercice de 1,11 $, les convertissant automatiquement en actions de classe A. Le même jour, il a vendu 44 000 actions de classe A à un prix moyen pondéré de 12,5314 $ dans le cadre d’un plan de trading Rule 10b5-1 adopté le 02/03/2025. Le produit brut s’élève à environ 0,55 million de dollars.

Après ces transactions, le dépôt révèle que M. Goel possède toujours 2 362 194 actions de classe A et B (hors récompenses non exercées ou non acquises) ainsi que 346 617 options. Des avoirs supplémentaires sont répartis entre plusieurs trusts familiaux et comptes de garde, comme détaillé en notes de bas de page.

Cette vente représente une petite fraction de sa propriété totale déclarée et semble faire partie d’une diversification programmée et continue plutôt que d’une réduction brutale de son exposition.

PubMatic, Inc. (PUBM) � Form 4 Insider-Transaktion

Am 07.07.2025 übte der CEO, Direktor und 10%-Eigentümer Rajeev K. Goel vollständig erworbene Optionen für 11.485 Class-B-Aktien zum Ausübungspreis von 1,11 $ aus, die automatisch in Class-A-Aktien umgewandelt wurden. Am selben Tag verkaufte er 44.000 Class-A-Aktien zu einem gewichteten Durchschnittspreis von 12,5314 $ im Rahmen eines Rule 10b5-1 Handelsplans, der am 02.03.2025 angenommen wurde. Der Bruttoerlös betrug etwa 0,55 Millionen Dollar.

Nach den Transaktionen gibt die Meldung an, dass Herr Goel weiterhin 2.362.194 Class-A- und Class-B-Aktien (ohne nicht ausgeübte oder nicht erworbene Awards) sowie 346.617 Optionen besitzt. Weitere Beteiligungen sind auf mehrere Familienstiftungen und Treuhandkonten verteilt, wie in den Fußnoten erläutert.

Der Verkauf stellt einen kleinen Teil seines insgesamt gemeldeten Besitzes dar und scheint Teil einer fortlaufenden, vorab geplanten Diversifizierung zu sein, statt einer abrupten Reduzierung der Beteiligung.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
X
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Goel Rajeev K.

(Last) (First) (Middle)
C/O PUBMATIC, INC.
601 MARSHALL STREET

(Street)
REDWOOD CITY CA 94063

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PubMatic, Inc. [ PUBM ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
CHIEF EXECUTIVE OFFICER
3. Date of Earliest Transaction (Month/Day/Year)
07/07/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 07/07/2025 C 11,485 A (1) 44,000 D
Class A Common Stock(2) 07/07/2025 S(3) 44,000(4) D $12.5314(5) 0 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to buy Class B Common Stock) $1.11 07/07/2025 M 11,485 (6) 07/07/2026 Class B Common Stock 11,485 $0 346,617 D
Class B Common Stock (1) 07/07/2025 M 11,485 (1) (1) Class A Common Stock 11,485 $1.11 222,469 D
Class B Common Stock (1) 07/07/2025 C 11,485 (1) (1) Class A Common Stock 11,485 $0 210,984 D
Class B Common Stock (1) (1) (1) Class A Common Stock 581,260 581,260 I See footnote(7)
Class B Common Stock (1) (1) (1) Class A Common Stock 400,000 400,000 I See footnote(8)
Class B Common Stock (1) (1) (1) Class A Common Stock 68,616 68,616 I See footnote(9)
Class B Common Stock (1) (1) (1) Class A Common Stock 308,775 308,775 I See footnote(10)
Class B Common Stock (1) (1) (1) Class A Common Stock 308,775 308,775 I See footnote(10)
Class B Common Stock (1) (1) (1) Class A Common Stock 483,784 483,784 I See footnote(11)
Explanation of Responses:
1. Each share of Class B common stock held by the Issuer's executive officers, directors and their respective affiliates will convert automatically into one share of Class A common stock upon any transfer, except for certain permitted transfers.
2. Following the sales reported in this line item, Mr. Goel holds 2,362,194 shares of Class A Common Stock and Class B Common Stock, which figure does not reflect vested but unexercised options, unvested options, or unvested restricted stock units, each as of the date of filing. The option award under which these shares were exercised expires on July 7, 2026.
3. The sales reported in this line item were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 2, 2025.
4. These securities were transferred by the Reporting Person to The Goel Family Trust, of which the Reporting Person and his spouse are beneficiaries, and were sold by the Goel Family Trust as reported herein.
5. Represents the weighted average sale price. The lowest price at which shares were sold was $12.44 and the highest price at which shares were sold was $12.74. The Reporting Person undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the range set forth herein.
6. The options are fully vested.
7. These securities are held by the Reporting Person, as custodian for the benefit of his children under the California Uniform Transfers to Minors Act.
8. These securities are held by The Goel Heritage Trust, of which the Reporting Person's children are beneficiaries. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
9. These securities are held by The Goel Family Gift Trust, of which family members and certain other individuals are beneficiaries. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
10. These securities are held by a trust for the benefit of the Reporting Person's child. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
11. These securities are held by The Goel Family Trust, of which the Reporting Person and his spouse are beneficiaries.
/s/ Andrew Woods, Attorney-in-Fact 07/09/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many PUBM shares did CEO Rajeev Goel sell on 07/07/2025?

He sold 44,000 Class A shares at a weighted-average price of $12.5314.

Was the sale part of a 10b5-1 trading plan?

Yes. Footnote 3 confirms the transaction was executed under a Rule 10b5-1 plan adopted on 03/02/2025.

What is Mr. Goel’s remaining share ownership after the trade?

The filing reports 2,362,194 Class A and Class B shares remaining, excluding unexercised or unvested awards.

At what price were the options exercised?

Options for 11,485 Class B shares were exercised at an exercise price of $1.11 per share.

How many options does the CEO still hold?

After the exercise, 346,617 options remain beneficially owned.

What was the range of sale prices for the disposed shares?

The lowest sale price was $12.44 and the highest was $12.74, per footnote 5.
Pubmatic, Inc.

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PUBM Stock Data

560.56M
39.96M
0.72%
64.28%
3.47%
Software - Application
Services-computer Programming, Data Processing, Etc.
United States
REDWOOD CITY