Form 4: PubMatic Executive Amar Goel Sells Shares 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 April 1, 2025, Goel acquired 12,436 shares of Class A Common Stock and disposed of shares to cover tax obligations related to vesting RSUs.
• Goel sold 4,446 shares on April 2, 2025, at a weighted average price of $9.3073.
• He also sold 5,905 shares on April 3, 2025, at a weighted average price of $8.4327.
• These sales were executed under a Rule 10b5-1 trading plan adopted on December 5, 2023.
• Goel also reported ownership of restricted stock units (RSUs) that are vesting quarterly.
• Goel indirectly owns shares through several trusts, including the Birchwood Trust, Tuscan Irrevocable Trust, Marais Irrevocable Trust, RAJN Trust-A, and RAJN Trust-N.
• He disclaims beneficial ownership of shares held by these trusts except to the extent of his pecuniary interest.
• Goel also holds shares as custodian for his children under the California Uniform Transfers to Minors Act.

Sentiment

Score: 6

Explanation: The document is neutral, simply reporting transactions. The sales are related to tax obligations and pre-planned trading, not necessarily indicative of a negative outlook.

Future Outlook

The reporting person will continue to have RSUs vest quarterly.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice among publicly traded companies.
• The use of Rule 10b5-1 trading plans is a standard method for insiders to sell shares while avoiding accusations of insider trading.
• Companies like Google (Alphabet Inc.) and Meta (Facebook) also see similar filings from their executives regularly.

Key Dates

Keywords

Form 4, PubMatic, PUBM, Amar Goel, Beneficial Ownership, Restricted Stock Units, Rule 10b5-1, Tax Withholding, Class A Common Stock, Securities Exchange Act