Form 4: PubMatic CEO Rajeev Goel Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
PubMatic's CEO, Rajeev Goel, sold a total of 25,000 Class A common stock shares over two days under a pre-arranged 10b5-1 trading plan.
Summary
- Rajeev K. Goel, CEO of PubMatic, Inc., executed sales of Class A common stock on January 6, 2025, and January 7, 2025.
- On January 6, 2025, 18,391 shares were sold at a weighted average price of $15.4402, with prices ranging from $15.21 to $15.595.
- On January 7, 2025, 6,609 shares were sold at a weighted average price of $14.9449, with prices ranging from $14.72 to $15.425.
- These sales were conducted under a Rule 10b5-1 trading plan adopted by Mr. Goel on March 1, 2024.
- Following these transactions, Mr. Goel still beneficially owns 12,505 and 5,896 shares respectively.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock sales under a pre-arranged plan, which is neither positive nor negative in itself. It's a neutral event.
Risks
- Executive stock sales can sometimes be perceived negatively by the market, potentially impacting investor sentiment.
Industry Context
This filing is a routine disclosure of insider trading activity and is common for executives of publicly traded companies. The use of a 10b5-1 plan is a standard practice to avoid accusations of insider trading.
Comparison to Industry Standards
- The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, such as those in the ad-tech sector like The Trade Desk (TTD) or Magnite (MGNI).
- These plans allow for pre-scheduled sales of stock to avoid accusations of insider trading, and are generally viewed as a normal part of executive compensation and financial planning.
- The reported sales are within the typical range of executive stock transactions and do not appear to be unusual compared to similar filings from other companies.
Stakeholder Impact
- The stock sales may have a minor impact on the share price, but the pre-planned nature of the sales should mitigate any significant negative reaction from shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date the 10b5-1 trading plan was adopted by Rajeev Goel. |
| 01/06/2025 | Date of the first stock sale transaction. |
| 01/07/2025 | Date of the second stock sale transaction. |
| 01/08/2025 | Date the Form 4 was signed. |
Keywords
PubMatic, Rajeev Goel, stock sale, Form 4, 10b5-1 trading plan, insider trading, executive compensation
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