4/A: Susan Daimler Receives Amended Grant of Restricted Stock Units in PubMatic, Inc. Director Compensation Program

Susan Daimler, a director at PubMatic, Inc., received an amended grant of 8,447 restricted stock units (RSUs) on May 31, 2024, which vest on the earliest of the first anniversary of the grant date, the 2025 annual meeting, death/disability, or a change in control.

Summary

• This is an amended SEC Form 4 filing regarding Susan Daimler's beneficial ownership in PubMatic, Inc.
• The amendment corrects the number of restricted stock units (RSUs) granted to Daimler on May 31, 2024, under the company's non-employee director compensation program.
• Daimler was granted 8,447 RSUs, each representing a contingent right to receive one share of PubMatic's Class A Common Stock upon settlement.
• The RSUs vest in full on the earliest of (a) the first anniversary of the grant date, (b) immediately prior to the Company's annual meeting of stockholders in 2025, (c) the Reporting Person's death or disability, and (d) a change in control of the Issuer.
• Daimler has elected to defer settlement of the RSUs until the earliest of (i) the third anniversary of the grant date, (ii) the Reporting Person's death or disability, (iii) a change in control of the Issuer, and (iv) the Reporting Person's separation of service from the Issuer.
• The filing was signed by Andrew Woods, Attorney-in-Fact, on September 19, 2024.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing, indicating standard corporate governance practices. The grant of RSUs is generally viewed positively as it aligns director interests with shareholder value.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.
• The vesting schedule provides an incentive for continued service and commitment to the company.

Industry Context

This filing is standard practice for reporting changes in beneficial ownership by company insiders, such as directors, and is required by the SEC to ensure transparency in the market.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash and equity, with RSUs being a common component.
• Vesting schedules for RSUs typically range from one to four years, aligning with industry norms.
• Deferral of settlement is a feature that can be found in some RSU agreements, allowing for tax planning or further alignment with long-term company performance.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive sign, aligning the director's interests with the company's long-term success.
• The RSU grant has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates