PubMatic (PUBM) CEO Rajeev Goel Sells Shares

What Happened Rajeev K. Goel, PubMatic’s CEO, sold 49,980 shares in an open-market transaction on August 20, 2026 for a weighted average price of $16.49, generating $824,260. On the same date he also exercised/converted derivative securities: he acquired 21,871 shares by exercising options at $2.15/share (cost ~$47,023) and completed conversions/exercises involving an additional 34,371 shares (reported as derivative conversions/settlements). Some derivative line items were reported with $0.00 proceeds, reflecting internal conversions/settlements rather than separate cash sales.

Key Details

• Transaction date: August 20, 2026.
• Open-market sale: 49,980 shares; weighted average sale price $16.49; total proceeds $824,260. Sale price range: $16.32–$16.74. Sales were made under a Rule 10b5-1 trading plan adopted March 5, 2026 (F3, F4).
• Option/derivative activity: exercise of 21,871 shares at $2.15 ($47,023) and conversion/exercise activity covering 34,371 shares (derivative conversion lines reported, some showing $0.00 proceeds).
• Shares held after the transactions: 2,375,148 shares of Class A and Class B common stock (does not include unvested/vested-but-unexercised options or unvested RSUs) (F2).
• Options under which shares were exercised are fully vested and expire May 1, 2027 (F5, F2).
• Some securities held in family and other trusts; reporting person disclaims beneficial ownership of some trust holdings (F6–F10).
• Sales were pursuant to a pre-established 10b5-1 plan (F3). No late filing flag noted.

Context

• The activity combines option exercise/conversion and a subsequent open-market sale. When exercised shares are immediately sold (or converted and settled internally), filings can show both acquisition (exercise) and disposal (sale or settlement) lines; proceeds reported at $0.00 typically reflect internal conversions/settlements rather than cash sales to the market.
• Sales under a 10b5-1 plan are generally pre-arranged and routine; they do not necessarily signal a change in the insider’s view of the company. Purchases (not present here) are typically a stronger bullish indicator for investors.