Form 4: PubMatic Executive Amar Goel Reports Stock Sales to Cover Tax Obligations

Amar Goel, Chairman and Chief Innovation Officer of PubMatic, sold shares of Class A Common Stock to cover tax withholding obligations related to the vesting of restricted stock units.

Summary

• Amar K. Goel, Chairman and Chief Innovation Officer of PubMatic, filed a Form 4 detailing changes in beneficial ownership.
• On July 1, 2024, Goel acquired 9,192 shares of Class A Common Stock through the vesting of restricted stock units (RSUs).
• Also on July 1, 2024, 2,993, 2,030 and 4,169 RSUs vested.
• From July 2-3, 2024, Goel sold a total of 7,210 shares of Class A Common Stock at weighted average prices of $20.4143 and $20.635, respectively.
• These sales were executed to cover tax withholding obligations associated with the vesting of the RSUs.
• Goel also holds shares indirectly through several trusts, including the Birchwood Trust, Tuscan Irrevocable Trust, Marais Irrevocable Trust, RAJN Trust-A, and RAJN Trust-N.
• Goel disclaims beneficial ownership of shares held by the trusts, except to the extent of his pecuniary interest.
• Some shares are also held by Goel as custodian for his children under the California Uniform Transfers to Minors Act.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, as it simply reports facts.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies, often related to compensation and tax planning. The use of 10b5-1 trading plans is also a standard practice to avoid accusations of insider trading.

Stakeholder Impact

• The stock sales could have a minor impact on shareholders due to the increased supply of shares in the market, but the impact is likely minimal given the relatively small volume of shares sold.

Key Dates