Form 4: PubMatic CFO Steven Pantelick Reports Stock Transactions and Option Grants

Steven Pantelick, CFO of PubMatic, reports the acquisition and disposal of Class A Common Stock, along with the grant of Restricted Stock Units and Stock Options.

Summary

• Steven Pantelick, the CFO of PubMatic, filed a Form 4 detailing changes in beneficial ownership.
• On March 3, 2025, Pantelick acquired 4,000 shares of Class A Common Stock at $0 and disposed of 4,000 shares at an average price of $10.6065.
• Following these transactions, Pantelick directly owns 22,506 shares of Class A Common Stock.
• On February 18, 2025, Pantelick was granted 118,510 Restricted Stock Units (RSUs) and 118,510 Stock Options.
• The RSUs vest as to 1/16th of the total shares on April 1, 2025, and 1/16th quarterly thereafter.
• The options vest as to 1/48 of the total shares on February 1, 2025, and 1/48th monthly thereafter.
• Pantelick also indirectly owns shares through his spouse, PSLT DE LLC, and SMP DE LLC.
• The sales were executed under a Rule 10b5-1 trading plan adopted on May 9, 2024.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock transactions and option grants. It doesn't inherently convey strong positive or negative sentiment, but the equity grants suggest confidence in future performance.

Positives

• The grant of RSUs and stock options to the CFO aligns his interests with the long-term success of the company.
• The use of a 10b5-1 trading plan suggests a structured and transparent approach to stock sales.

Future Outlook

The RSUs vest as to 1/16th of the total shares on April 1, 2025, and 1/16th of the total shares will vest quarterly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date. The option vests as to 1/48 of the total shares on February 1, 2025, and 1/48 of the total shares will vest monthly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.

Comparison to Industry Standards

• Stock option and RSU grants are a common form of compensation for executives in the tech industry, aligning their interests with shareholder value.
• Vesting schedules (quarterly for RSUs and monthly for options) are typical for these types of equity grants.
• The use of a 10b5-1 trading plan is a best practice to avoid accusations of insider trading, similar to practices at companies like Google (Alphabet) and Meta (Facebook).

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership.
• The equity grants incentivize the CFO to contribute to the company's success, potentially benefiting employees and other stakeholders.

Key Dates