Form 4: PubMatic Insider Sells Shares Under 10b5-1 Plan

Amar K. Goel, a Director and Officer of PubMatic, Inc., sold 8,020 shares of Class A Common Stock for approximately $8.45 per share under a pre-arranged trading plan.

Summary

• Amar K. Goel, who serves as a Director, 10% Owner, and Chairman, Chief Innovation Officer of PubMatic, Inc. (PUBM), reported a sale of company stock.
• On September 2, 2025, Mr. Goel disposed of 8,020 shares of Class A Common Stock.
• The shares were sold at a weighted average price of $8.4502 per share, with individual sale prices ranging from $8.34 to $8.58.
• This transaction was executed pursuant to a Rule 10b5-1 trading plan, which Mr. Goel adopted on June 3, 2025.
• Following this transaction, Mr. Goel directly beneficially owns 12,496 shares of PubMatic, Inc. Class A Common Stock.

Sentiment

Score: 5

Explanation: The sale by an insider, while a disposition, was conducted under a pre-arranged 10b5-1 plan, which generally mitigates the negative signal often associated with insider selling. It is a routine transaction for many executives and does not inherently suggest a change in company fundamentals.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, indicating the transaction was scheduled in advance and not based on recent non-public information, which can mitigate negative investor perception of insider selling.

Negatives

• An insider, who holds significant roles as a Director, 10% Owner, and Officer, sold a portion of their holdings, which some investors may interpret as a lack of confidence, despite the pre-planned nature of the sale.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance.

Industry Context

This Form 4 reports an individual insider transaction and does not provide broader industry context or trends for the ad-tech or programmatic advertising sector.

Related Party Transactions

• The transaction involves Amar K. Goel, a Director, 10% Owner, and Officer of PubMatic, Inc., selling company stock, which is considered a related party transaction.

Stakeholder Impact

• Shareholders: May interpret the insider sale, even if planned, with varying degrees of concern or neutrality. Some may view it as a routine liquidity event, while others might see it as a potential signal, albeit mitigated by the 10b5-1 plan.

Key Dates

Keywords

PubMatic, PUBM, Insider Trading, Form 4, Stock Sale, Amar K. Goel, 10b5-1 Plan, Director, Officer