4/A: PubMatic CEO Rajeev Goel Amends Form 4 Filing to Correct Stock Option Exercise Details
SEC Form 4/A (Amendment)
Rajeev Goel, CEO of PubMatic, Inc., amended a previous Form 4 filing to correct the number of stock options exercised and converted on February 3, 2025.
Summary
- Rajeev K. Goel, CEO of PubMatic, filed an amended Form 4 with the SEC on February 13, 2025.
- This filing corrects a previous Form 4 filed on February 5, 2025, regarding transactions on February 3, 2025.
- The amendment addresses inaccuracies in the number of options exercised and the conversion of Class B common stock to Class A common stock.
- On February 3, 2025, Goel exercised 19,104 stock options, converting them into Class A common stock.
- Goel also transferred 25,000 shares of Class A Common Stock to the Goel Family Trust.
- He sold 24,891 shares of Class A Common Stock at a weighted average price of $15.136.
- On February 4, 2025, Goel sold 109 shares of Class A Common Stock at a weighted average price of $15.2422.
- The sales were executed under a Rule 10b5-1 trading plan adopted on March 1, 2024.
- Following these transactions, Goel directly owns 498,016 shares of Class B Common Stock, 230,088 shares of Class A Common Stock, and 210,984 shares of Class B Common Stock.
- Goel also indirectly owns shares through various trusts, including The Goel Family Trust, The Goel Heritage Trust, and trusts for the benefit of his children.
Sentiment
Score: 7
Explanation: The sentiment is neutral. It's a routine correction of a regulatory filing. The transactions themselves (option exercises and stock sales) are common for executives.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which is crucial for maintaining market integrity and investor confidence.
Comparison to Industry Standards
- Monitoring insider transactions is a common practice across publicly traded companies, with firms like Google (Alphabet Inc.) and Meta Platforms also subject to similar reporting requirements.
- The use of Rule 10b5-1 trading plans is a widespread method for corporate executives to manage their stock sales while avoiding accusations of insider trading, aligning with practices seen at companies such as Microsoft and Apple.
Related Party Transactions
- The transfer of 25,000 shares of Class A Common Stock by Rajeev Goel to the Goel Family Trust is a related party transaction.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- The transactions themselves may have a minor impact on the stock price due to the volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| 2024/03/01 | Date of adoption of Rule 10b5-1 trading plan |
| 2025/02/03 | Date of stock option exercise and stock sales |
| 2025/02/04 | Date of stock sales |
| 2025/02/05 | Date of original Form 4 filing |
| 2025/02/13 | Date of amended Form 4/A filing |
| 2026/07/07 | Expiration date of Stock Options |
Keywords
Form 4, PubMatic, Rajeev Goel, Stock Options, Class A Common Stock, Class B Common Stock, SEC Filing, Beneficial Ownership, Rule 10b5-1, Insider Trading
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