Form 4: PubMatic CFO Steven Pantelick Executes Stock Option and Sells Shares Under 10b5-1 Plan

Steven Pantelick, CFO of PubMatic, Inc., exercised stock options and sold shares of Class A Common Stock under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On September 3, 2024, Steven Pantelick, the CFO of PubMatic, Inc., acquired 4,000 shares of Class A Common Stock at $0 and disposed of 4,000 shares at a weighted average price of $15.2109.
• These sales were executed under a Rule 10b5-1 trading plan adopted on May 9, 2024.
• On September 5, 2024, Pantelick exercised options to acquire 21,166 shares of Class B Common Stock, which then converted into Class A Common Stock.
• Following these transactions, Pantelick directly owns 22,506 shares of Class A Common Stock and 328,026 shares of Class B Common Stock.
• He also indirectly owns shares through PSLT DE LLC (41,536 shares) and SMP DE LLC (115,000 shares), where his children and spouse are beneficiaries.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transactions are part of a pre-planned trading strategy, and there's no indication of unusual activity or concern.

Positives

• The transactions were conducted under a pre-arranged Rule 10b5-1 trading plan, indicating a planned and transparent approach to stock sales.

Risks

• Executive stock sales can sometimes be perceived negatively by investors, although the existence of a 10b5-1 plan mitigates this concern.

Industry Context

Executive stock transactions are common in publicly traded companies, and the use of Rule 10b5-1 plans is a standard practice to avoid insider trading concerns. Monitoring these transactions provides insights into management's perspective on the company's value.

Comparison to Industry Standards

• Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
• Rule 10b5-1 trading plans are widely used by executives at companies like The Trade Desk (TTD) and Magnite (MGNI) to manage their stock sales in a compliant manner.
• The size and frequency of these transactions are typical for CFO-level executives in similarly sized tech companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the sale of shares, but the pre-planned nature of the sales mitigates potential concerns.

Key Dates