[144] PubMatic, Inc. SEC Filing

Rhea-AI Filing Summary

PubMatic, Inc. (PUBM) Form 144 notifies a proposed sale of 44,000 common shares through Goldman Sachs & Co. LLC with an aggregate market value of $374,880, to be sold on 09/02/2025 on NASD. The filer reports those shares were acquired on 09/02/2025 upon option exercise and paid by option exercise. The filing also discloses multiple prior sales by the Goel Family Trust totaling repeated dispositions between 06/02/2025 and 08/18/2025, including several 44,000-share transactions and one large reported gross proceeds entry of $4,849,280. The filer affirms no undisclosed material adverse information and certifies compliance with Rule 144 representations.

Positive

• Required Rule 144 disclosures were provided, including broker, class, acquisition method, and recent sale history
• Securities acquired via option exercise and payment method (option exercise) are explicitly stated

Negative

• Multiple large prior sales by the Goel Family Trust are reported between 06/02/2025 and 08/18/2025, indicating significant insider-related liquidity
• One prior entry shows gross proceeds of $4,849,280, a notable cash-out amount disclosed in the sales history

Insights

Securities Analyst

TL;DR: A controlled sale notice for 44,000 shares follows a series of recent large dispositions by a related trust, indicating concentrated insider liquidity.

The filing documents a proposed brokered sale of 44,000 common shares valued at $374,880, acquired and to be paid for via option exercise on the same date. The historical sales table shows numerous sizable disposals by the Goel Family Trust from June through August 2025, including multiple 44,000-share transactions and varied gross proceeds. For investors, the record documents liquidity events by related parties but contains no financial performance metrics or issuer commentary. All conclusions are limited to the statements in the filing.

Corporate Governance Expert

TL;DR: The notice is a routine Rule 144 disclosure of insider-originated shares being sold after option exercise, with multiple prior trust sales recorded.

The document shows compliance with Rule 144 procedural disclosures: identification of broker, share class, acquisition method (option exercise), and aggregation of recent sales by an affiliated trust. The filer certifies absence of undisclosed material adverse information. The filing provides transparency on insider-derived selling activity but does not state any governance actions or changes in company control. Assessment is strictly based on provided entries.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	44000	374880	37459793	09/02/2025	NASD

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/02/2025	Acquired upon option exercise	Issuer			44000	09/02/2025	Option exercise

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Goel Family Trust DTD 09/25/2012 601 Marshall Street Redwood City CA 94063	Common	06/02/2025	25000	297000
Goel Family Trust DTD 09/25/2012 601 Marshall Street Redwood City CA 94063	Common	06/09/2025	35703	432995
Goel Family Trust DTD 09/25/2012 601 Marshall Street Redwood City CA 94063	Common	06/09/2025	8297	100623
Goel Family Trust DTD 09/25/2012 601 Marshall Street Redwood City CA 94063	Common	06/23/2025	44000	488840
Goel Family Trust DTD 09/25/2012 601 Marshall Street Redwood City CA 94063	Common	07/07/2025	11485	143923.13
Goel Family Trust DTD 09/25/2012 601 Marshall Street Redwood City CA 94063	Common	07/07/2025	32515	407458.47
Goel Family Trust DTD 09/25/2012 601 Marshall Street Redwood City CA 94063	Common	07/21/2025	44000	563252.8
Goel Family Trust DTD 09/25/2012 601 Marshall Street Redwood City CA 94063	Common	08/01/2025	44000	4849280
Goel Family Trust DTD 09/25/2012 601 Marshall Street Redwood City CA 94063	Common	08/18/2025	44000	368280

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What is being proposed for sale in this PubMatic (PUBM) Form 144?

The filing proposes the sale of 44,000 common shares through Goldman Sachs & Co. LLC, with an aggregate market value of $374,880.

How and when were the 44,000 shares acquired?

The filing states the shares were acquired on 09/02/2025 upon option exercise, and payment was by option exercise on that date.

Which broker will handle the proposed sale?

The broker named in the filing is Goldman Sachs & Co. LLC, located at 200 West Street, New York, NY 10282.

Does the filing show other recent sales by related parties?

Yes; the Goel Family Trust reported multiple sales from 06/02/2025 through 08/18/2025, including several 44,000-share transactions and various gross proceeds amounts.

Does the filer assert possession of undisclosed material information?

The filer represents by signature that they do not know any material adverse information about the issuer that has not been publicly disclosed.