Form 4: PubMatic CFO Steven Pantelick Reports Stock Transactions

Steven Pantelick, CFO of PubMatic, Inc., reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units (RSUs) to cover tax obligations.

Summary

• On March 31, 2024, Steven Pantelick, the CFO of PubMatic, acquired 2,260 shares of Class A Common Stock through the vesting of Restricted Stock Units (RSUs) at a price of $0.
• On April 1, 2024, Pantelick disposed of 850 shares of Class A Common Stock at a price of $23.6366 per share.
• The sale was to cover tax withholding obligations related to the vesting of the RSUs.
• Following these transactions, Pantelick directly owns 14,066 shares of Class A Common Stock and 6,783 Restricted Stock Units.
• The RSUs vest in installments, subject to continued service with PubMatic.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transactions are related to routine compensation and tax obligations. There is no indication of unusual or concerning activity.

Positives

• The vesting of RSUs indicates that the CFO is meeting the service requirements with PubMatic.

Negatives

• The sale of shares, even for tax purposes, could be perceived negatively by some investors, although it's a common practice.

Risks

• Fluctuations in the stock price could impact the value of the remaining shares and RSUs held by the CFO.
• Future tax obligations related to RSU vesting may require further sales of shares.

Future Outlook

The reporting person will continue to vest in RSUs quarterly, subject to continued service with the issuer.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.

Comparison to Industry Standards

• Executive compensation packages often include RSUs that vest over time to align management's interests with those of shareholders.
• Selling shares to cover tax obligations upon vesting of RSUs is a common practice among executives in publicly traded companies.
• Comparable companies such as Magnite (MGNI) and Criteo (CRTO) also see similar Form 4 filings from their executives.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders as they are related to executive compensation and tax obligations.
• Transparency in executive trading activity can foster trust with shareholders.

Next Steps

• The reporting person will continue to vest in RSUs quarterly, subject to continued service with the issuer.
• The reporting person may make additional transactions in the company's stock in the future.

Key Dates