MEHTA NIKHIL RAMESH 4

What Happened

• Nikhil Ramesh Mehta, a director of PubMatic, was granted 15,811 restricted stock units (RSUs) on 2025-05-30 (transaction code A) at $0.00 per share and on 2025-05-31 exercised/converted 8,447 derivative units (transaction code M). The exercise/conversion shows a matching disposition of the same 8,447 shares on 2025-05-31, meaning those exercised shares were not retained. No cash amounts are reported (exercise/grant price listed as $0.00).

Key Details

• Transaction dates and codes: 2025-05-30 — Grant/award (A) of 15,811 RSUs @ $0.00; 2025-05-31 — Exercise/conversion (M) Acquired 8,447 shares @ $0.00 and same day Disposed 8,447 shares @ $0.00.
• Shares owned after the reported transactions: Not specified in the filing.
• Footnotes of note:
  • F1: Each RSU entitles the holder to one share of Class A common stock upon settlement.
  • F2/F4: RSUs vest in full on the earliest of the first anniversary of the grant date, immediately prior to the 2026 annual meeting, death/disability, or a change in control. The reporting person elected to defer settlement until the earliest of the third anniversary of the grant date, death/disability, change in control, or separation of service.
  • F3: RSUs do not expire; they vest or are cancelled prior to vesting.
• Filing timeliness: The Form 4 was filed on 2026-04-14 reporting May 30–31, 2025 transactions — roughly 10+ months after the trades. Form 4 disclosures are normally due within two business days, so this filing is late, which reduces the timeliness of public disclosure.

Context

• RSUs are a derivative award that convert to shares upon settlement; the grant here is an award (not an open‑market purchase). The matched exercise/conversion and same‑day disposition of 8,447 shares indicates those exercised shares were not held after conversion; the filing does not state the reason (e.g., sale to cover taxes or other).
• Grants/awards (A) are generally less informative about near‑term insider sentiment than open‑market purchases; exercises/conversions (M) can be routine (vesting-related or tax-related) rather than directional trades.