Form 4: PubMatic CFO Steven Pantelick Executes Stock Transactions Under 10b5-1 Plan

PubMatic's Chief Financial Officer, Steven Pantelick, engaged in stock transactions, including the acquisition of 4,000 shares and the sale of 19,779 shares, under a pre-arranged 10b5-1 trading plan.

Summary

• Steven Pantelick, the Chief Financial Officer of PubMatic, Inc., executed several transactions involving the company's stock on January 3, 2025.
• He acquired 4,000 shares of Class A Common Stock at a price of $0, likely through the conversion of Class B shares.
• He also sold 19,779 shares of Class A Common Stock at a weighted average price of $15.1463, with individual sales ranging from $14.87 to $15.37.
• These transactions were conducted under a Rule 10b5-1 trading plan adopted on May 9, 2024.
• Following these transactions, Pantelick directly owns 22,506 shares of Class A Common Stock.
• He also indirectly owns 321,488 shares of Class A Common Stock through Class B conversions, and additional shares through family trusts.

Sentiment

Score: 5

Explanation: The document reflects routine insider trading activity under a pre-arranged plan. There are no significant positive or negative implications beyond the standard disclosure requirements.

Positives

• The acquisition of shares, even at $0, could be seen as a positive sign of confidence in the company's future.
• The use of a 10b5-1 trading plan indicates a structured and transparent approach to stock transactions.

Negatives

• The sale of 19,779 shares by the CFO could be interpreted negatively by some investors, although it is part of a pre-planned trading strategy.

Risks

• Executive stock sales, even under a 10b5-1 plan, can sometimes create uncertainty in the market.
• Fluctuations in the stock price could impact the value of the remaining holdings.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common in 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 technology sector like The Trade Desk (TTD) or Magnite (MGNI).
• These plans allow for scheduled stock sales to avoid accusations of insider trading, and the reported transactions are typical of such plans.
• The price range of $14.87 to $15.37 is within the normal trading range for a company like PubMatic, and the volume of shares sold is not unusual for an executive's pre-planned sales.

Stakeholder Impact

• The stock transactions may have a minor impact on the share price, but the pre-planned nature of the sales should mitigate any significant negative reaction.
• The disclosure provides transparency to shareholders regarding insider trading activity.

Key Dates

Keywords

PubMatic, Steven Pantelick, CFO, stock transactions, Form 4, Rule 10b5-1, insider trading, Class A Common Stock, Class B Common Stock