PubMatic (PUBM) Chief Accounting Officer Lisa Gimbel Sells Shares

What Happened

• Lisa Gimbel, PubMatic’s Chief Accounting Officer, reported the vesting/settlement of multiple restricted stock units (RSUs) and a related sell-to-cover tax sale. On May 18, 2026 she sold 1,396 shares in an open-market/block trade at a weighted average price of $17.04 for proceeds of $23,787.
• The filing also shows several exercise/conversion (transaction code M) entries on August 15, 2026 for 1,395; 772; 801; and 794 shares (all reported with $0 exercise price). These $0 transactions reflect RSU settlement/vesting (not option purchases) rather than paid option exercises.

Key Details

• Transaction dates and prices:
  • May 18, 2026: sale of 1,396 shares at a weighted average of $17.04 — proceeds $23,787 (block trade prices ranged $16.84–$17.37 per footnote).
  • Aug 15, 2026: multiple RSU exercises/conversions (1,395; 772; 801; 794 shares) reported at $0 (acquisition and corresponding derivative disposition lines).
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: F1 — the May 18 sale was a “sell to cover” to satisfy tax withholding tied to RSU vesting; F2 — reported price is a weighted average within a block trade price range; F3–F8 — RSUs represent one share per unit and vest on a scheduled quarterly basis (details in footnotes).
• Filing timeliness: the Form 4 was filed on Aug 18, 2026 (reporting period Aug 15, 2026). The May 18 sale is included in this Aug 18 filing and therefore appears to have been reported after the typical two-business-day Form 4 window.

Context

• These transactions are routine RSU settlements: each RSU converts into one share at vesting for no cash consideration, and a portion of shares is commonly sold to cover required tax withholding ("sell-to-cover"). The $0 exercise/conversion entries indicate RSU vesting/settlement rather than an option purchase.
• Such sell-to-cover sales are administrative and do not necessarily signal the insider’s broader view of the company.