[144] PubMatic, Inc. SEC Filing

Rhea-AI Filing Summary

PubMatic, Inc. (PUBM) filing a Form 144 notifies the proposed sale of 44,000 common shares through Goldman Sachs & Co. LLC on 08/18/2025. The shares were acquired the same day upon exercise of options and the aggregate market value of the planned sale is listed as $372,240. The filing shows the selling account has completed multiple open-market sales of common stock during the prior three months, with individual proceeds ranging from $100,623 to $4,849,280, and multiple sale dates between 05/05/2025 and 08/01/2025. The filing includes a seller representation that no undisclosed material adverse information is known.

Positive

• Option exercise and sale are disclosed, demonstrating transparency under Rule 144
• Broker-dealer identified (Goldman Sachs), indicating a standard market execution channel
• Seller certified no material nonpublic information at time of notice

Negative

• Multiple recent open-market sales by the same selling account between May and August 2025, showing material insider stock dispositions
• Large aggregate proceeds reported on several sale dates, which could be interpreted as significant insider liquidity

Insights

Securities Analyst

TL;DR: A holder exercised options and plans to sell 44,000 shares; recent months show sizable open-market dispositions.

The Form 144 documents a proposed sale following an option exercise, with 44,000 shares offered via Goldman Sachs on 08/18/2025 at an aggregate market value of $372,240. The filing also reports numerous prior sales by the same selling account across May–August 2025 totaling substantial proceeds. For investors, this is a routine disclosure of insider-related liquidity events rather than an operational disclosure from the company itself. The activity is transparent and complies with Rule 144 notice requirements.

Corporate Governance Expert

TL;DR: Compliance-focused filing shows option exercise followed by planned Rule 144 sale and multiple prior trust sales.

The notice records an option exercise and nearly contemporaneous plan to sell 44,000 shares through a broker, consistent with typical insider liquidity. The seller certifies lack of material nonpublic information. The filing lists numerous prior sales by the Goel Family Trust between May and August 2025, indicating ongoing dispositions by related parties. From a governance perspective, timely filing and broker routing through Goldman Sachs support procedural compliance.

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	372240	37459793	08/18/2025	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	08/18/2025	Acquired upon option exercise	Issuer			44000	08/18/2025	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	05/05/2025	25000	243500
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

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 does PubMatic's Form 144 (PUBM) disclose?

The Form 144 discloses a proposed sale of 44,000 common shares via Goldman Sachs on 08/18/2025, acquired that same day by option exercise, with an aggregate market value of $372,240.

Who is the broker handling the proposed sale in the Form 144?

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

Were there prior sales by the same account before this Form 144?

Yes. The filing lists multiple sales by the Goel Family Trust between 05/05/2025 and 08/01/2025, with individual gross proceeds shown for each sale.

How were the 44,000 shares acquired before the planned sale?

The shares were acquired on 08/18/2025 upon option exercise, with payment recorded as part of that exercise.

Does the filer represent possession of material nonpublic information?

By signing the notice, the person for whose account the securities are to be sold represents they do not know any undisclosed material adverse information regarding the issuer.