Form 4: PubMatic's General Counsel Andrew Woods Reports Stock Transactions
SEC Form 4
Andrew Woods, General Counsel & Secretary of PubMatic, Inc., reports the acquisition and disposal of Class A Common Stock and Restricted Stock Units (RSUs) on April 1, 2024, to cover tax obligations.
Summary
- On April 1, 2024, Andrew Woods, General Counsel & Secretary of PubMatic, Inc., engaged in transactions involving the company's Class A Common Stock and Restricted Stock Units (RSUs).
- Woods acquired 8,686 shares of Class A Common Stock through the vesting of RSUs at a price of $0.
- Simultaneously, Woods disposed of 3,220 shares of Class A Common Stock at a weighted average price of $23.1647, with prices ranging from $22.675 to $23.62.
- These sales were executed to cover tax withholding obligations associated with the vesting of the RSUs.
- Woods also disposed of 4,039, 1,250, and 3,397 Restricted Stock Units.
- Following these transactions, Woods directly owns 21,153 shares of Class A Common Stock.
- Woods also holds 40,390, 13,760, and 50,951 Restricted Stock Units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about the transactions.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is common for publicly traded companies. It provides transparency into the trading activities of key personnel and their holdings in the company.
Comparison to Industry Standards
- Insider trading activity is a common occurrence in publicly listed companies like PubMatic.
- Similar filings are regularly made by executives at comparable companies such as Magnite (MGNI) and Criteo (CRTO).
- The 'sell to cover' transaction for tax obligations is a standard practice among employees receiving equity compensation.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the small volume of shares sold.
- The transactions ensure the reporting person meets their tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/01/2023 | RSUs vested as to 1/16th of the total award. |
| 10/01/2023 | RSUs vested as to 1/4 of the total award. |
| 04/01/2024 | Earliest transaction date; RSUs vested and shares were sold to cover tax obligations. |
| 04/03/2024 | Date of signature for the Form 4 filing. |
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