Pantelick Steven 4

What Happened

• Steven Pantelick, Chief Financial Officer of PubMatic (PUBM), had RSUs vest and settle on April 1, 2026, resulting in the acquisition of 45,663 shares at $0.00 (conversion/settlement of RSUs, transaction code M).
• To satisfy tax withholding on the settlement, he sold 16,747 shares in open-market/block trades on April 2, 2026, at a weighted average price of $8.17 for proceeds of approximately $136,878 (transaction code S; footnote F1: sell-to-cover).
• The filing also shows additional RSU-related conversions/dispositions on April 1 (several line items at $0.00) reflecting settlement/withholding activity tied to the RSU award.

Key Details

• Transaction dates: RSU settlement/conversion on 2026-04-01; open-market sale (sell-to-cover) on 2026-04-02.
• Sale price: weighted average $8.17; block trade price range reported between $7.98 and $8.27 (footnote F2). Proceeds: ~$136,878.
• Nature of award: each RSU converts to one share at settlement for no consideration (footnote F3). Vesting schedule: 1/16th vested 4/1/2023 and each April 1 thereafter through at least 2026; 1/16th vested on 4/1/2026 (F4–F8). RSUs do not expire (F5).
• Shares owned after the transactions: not specified in the data provided.
• Filing timeliness: Report filed 2026-04-03 for transactions on 2026-04-01 and 2026-04-02 — appears timely (Form 4 is normally due within two business days).

Context

• Transaction codes: M = exercise/conversion of a derivative (here, RSU settlement); S = open market sale. The primary sale was a routine sell-to-cover to satisfy tax withholding obligations, not necessarily a discretionary cash-out.
• For retail investors: sell-to-cover transactions tied to RSU vesting are common and typically reflect tax mechanics rather than a direct bearish signal from management. Purchases would be a stronger signal of insider conviction.