PubMatic (PUBM) CEO Rajeev Goel Sells 13,022 Shares (~$181K)

What Happened

• Rajeev K. Goel, CEO of PubMatic (PUBM), exercised and converted derivative securities and then sold the resulting 13,022 shares in open-market transactions on July 15–16, 2026.
• Sales: 4,060 shares sold on 7/15 at $13.90 for $56,448; 8,962 shares sold on 7/16 at $13.94 for $124,955 (total proceeds ≈ $181,403).
• Exercise/Conversion: He exercised options at $3.89 per share (4,060 and 8,962 shares), paying about $50,655 in aggregate to acquire those shares before selling them. These were exercises/conversions of previously held derivative securities, effectively monetizing vested awards rather than a fresh market purchase.

Key Details

• Transaction dates: July 15, 2026 and July 16, 2026.
• Exercise cost: $3.89 per share for the exercised options (total ≈ $50,655).
• Sale prices: $13.90 (7/15) and $13.94 (7/16); total sale proceeds ≈ $181,403. Footnotes indicate weighted-average sale-price details and price ranges for the executed trades.
• Shares owned after transaction: 2,409,495 shares of Class A and Class B common stock (does not include unvested or unexercised awards).
• Notable footnotes: sales were effected under a Rule 10b5-1 trading plan (adopted March 5, 2026); some securities are held or were sold via family trusts and the reporting person disclaims beneficial ownership of certain trust-held shares; Class B shares convert to Class A on transfer.
• Filing timeliness: Report filed July 17, 2026 for transactions on July 15–16, 2026 (timely Section 16 filing).

Context

• This sequence—exercising options or converting derivative securities and immediately selling the shares—is a common way for insiders to monetize vested equity. It is generally considered routine and was executed under a 10b5-1 plan in at least part of these sales.
• Trust-held shares and transfers noted in footnotes mean some sales were effected by family trusts; trust sales do not necessarily indicate the insider’s personal trading sentiment.
• Purchases typically carry more bullish signal than routine sales; here the activity primarily reflects liquidity from vested derivative instruments rather than a new purchase of company stock.