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

Amar K. Goel, Chairman and Chief Innovation Officer of PubMatic, Inc., reported the sale 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, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On October 1, 2024, Goel acquired 9,191 shares of Class A Common Stock and disposed of 2,993, 2,030 and 4,168 shares of restricted stock units.
• On October 2, 2024, he sold 3,254 shares of Class A Common Stock at a weighted average price of $14.5244.
• On October 3, 2024, he sold 3,889 shares of Class A Common Stock at a weighted average price of $14.3109.
• These sales were executed to cover tax withholding obligations associated with the vesting and settlement of restricted stock units.
• The sales on October 3, 2024, were conducted under a Rule 10b5-1 trading plan adopted on December 5, 2023.
• Goel also indirectly owns shares through various trusts, including the Birchwood Trust, Tuscan Irrevocable Trust, Marais Irrevocable Trust, RAJN Trust-A, and RAJN Trust-N.
• He also holds shares 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 by an executive. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider trading activity. It is common for executives to sell shares to cover tax obligations related to equity compensation.

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 to be minimal given the relatively small volume of shares sold.

Key Dates