Pantelick Steven 4

What Happened

• Steven Pantelick, Chief Financial Officer of PubMatic (PUBM), had restricted stock units (RSUs) convert/settle into 45,665 shares on July 1, 2026 (acquired at $0). To satisfy tax withholding and related obligations, shares were withheld/converted and additional shares were sold in the market.
• He sold 23,548 shares on July 2, 2026 at a weighted-average price of $13.65 (proceeds ~$321,395) and sold 12,548 shares on July 6, 2026 at $13.42 (proceeds ~$168,336). Total reported cash proceeds from the open-market sales = $489,731.

Key Details

• Dates & prices:
  • July 1, 2026: RSU conversion/settlement — 45,665 shares acquired at $0 (derivative conversion).
  • July 1, 2026: Zero-price dispositions of 9,547; 8,955; 7,407; and 19,756 shares (total 45,665) tied to the RSU settlement/withholding.
  • July 2, 2026: Sold 23,548 shares @ $13.65 (weighted avg) — ~$321,395.
  • July 6, 2026: Sold 12,548 shares @ $13.42 — ~$168,336.
• Proceeds from open-market sales: ~$489,731.
• Shares owned after the transactions: Not specified in the provided filing excerpt.
• Notable footnotes from the filing:
  • The conversions relate to RSUs (each RSU converts to one share at settlement) and follow a periodic vesting schedule (quarterly/1/16th milestones described in the filing).
  • Some sales were to satisfy tax withholding obligations (sell-to-cover).
  • Certain sales were effected as block trades at weighted-average prices or under a Rule 10b5-1 trading plan; price ranges for block trades are disclosed in the filing footnotes.
• Filing status: Form 4 filed July 6, 2026. No late-filing flag was indicated in the information provided.

Context

• These transactions primarily reflect RSU vesting and routine sell-to-cover tax withholding plus open-market/block sales; that is common when equity awards settle and does not, by itself, indicate a change in the executive’s view of the company.
• For retail investors, purchases are typically more informative as a bullish signal; this filing documents a conversion/settlement event and subsequent sales to meet tax obligations and planned dispositions (including a 10b5-1 plan), not an outright market-timed sale for investment speculation.