4/A: PubMatic Director Yakov Shulman Receives Corrected Grant of Restricted Stock Units

Yakov Shulman, a director at PubMatic, received a corrected grant of 8,447 Restricted Stock Units (RSUs) on May 31, 2024, vesting primarily on the first anniversary of the grant date.

Summary

• This is an amendment to a Form 4 filing, correcting the number of Restricted Stock Units (RSUs) granted to PubMatic director Yakov Shulman.
• The corrected filing shows that Shulman received 8,447 RSUs on May 31, 2024.
• These RSUs vest in full on the earliest of (a) the first anniversary of the grant date, (b) immediately prior to the Company's annual meeting of stockholders in 2025, (c) the Reporting Person's death or disability, and (d) a change in control of the Issuer.
• Shulman has elected to defer settlement of the RSUs until the earliest of (i) the third anniversary of the grant date, (ii) the Reporting Person's death or disability, (iii) a change in control of the Issuer, and (iv) the Reporting Person's separation of service from the Issuer.
• Upon settlement, Shulman will receive shares of PubMatic's Class A Common Stock.

Sentiment

Score: 7

Explanation: The document is a routine correction of an equity grant, indicating standard corporate governance practices. It's neither particularly positive nor negative, but reflects ongoing management and compensation processes.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service and commitment to the company.

Future Outlook

The director's compensation is tied to the company's performance through the vesting of RSUs.

Industry Context

Equity compensation is a common practice for directors in publicly traded companies to align their interests with shareholders.

Comparison to Industry Standards

• Director compensation packages, including RSUs, are typical in the technology sector to attract and retain qualified board members.
• Companies like The Trade Desk and Magnite also utilize equity grants as part of their director compensation.

Stakeholder Impact

• Shareholders may view the equity grant as a positive sign, aligning the director's interests with the company's performance.

Key Dates