PubMatic: CFO Steven Pantelick exercised and sold 23,491 shares

What happened

• The filing says Steven Pantelick, chief financial officer, exercised or converted derivatives into 45,664 shares on Oct 1, 2026 (acquired at $0.00). The filing also shows derivative dispositions of 45,664 shares on Oct 1, 2026 at $0.00 and open-market sales of 21,398 shares on Oct 2, 2026 at a weighted average price of $18.93 for $405,041 and 2,093 shares on Oct 2, 2026 at a weighted average price of $19.43 for $40,668, totaling $445,709.

Key details

• Transaction dates and prices:
  • Oct 1, 2026: exercise/conversion (code M) — 45,664 shares acquired @ $0.00.
  • Oct 1, 2026: derivative dispositions (code M) — 9,546; 8,955; 7,407; 19,756 shares disposed @ $0.00 (total 45,664).
  • Oct 2, 2026: open-market sale (code S) — 21,398 shares @ weighted avg $18.93, proceeds $405,041 (F2).
  • Oct 2, 2026: open-market sale (code S) — 2,093 shares @ weighted avg $19.43, proceeds $40,668 (F3).
• Shares owned after the transactions: not disclosed in this filing.
• Relevant footnotes:
  • F1: sales reported represent shares sold to cover tax withholding obligations (sell to cover).
  • F2/F3: reported prices are weighted averages from pooled trades; price ranges were $18.38 to $19.3725 (F2) and $19.42 to $19.44 (F3).
  • F4–F9: each RSU represents a right to one share at settlement; RSUs vested as to 1/16th on Apr 1, 2023, Apr 1, 2024, Apr 1, 2025 and Apr 1, 2026, with 1/16th vesting quarterly thereafter; RSUs do not expire.
• Form filed Oct 5, 2026.

Why it may matter

• The filing shows exercise/conversion of derivatives (RSUs) and that shares were disposed as part of a sell-to-cover tax withholding and open-market sales totaling $445,709.
• For derivative transactions, the filing reports an exercise/conversion and immediate dispositions rather than a retained position.
• A filing does not show why the insider traded or why the company acted.