PUBM insider sales: 7,968-share Form 144; recent 12,488-share disposals

Rhea-AI Filing Summary

PubMatic, Inc. (PUBM) filing a Form 144 notifies the market that 7,968 restricted shares will be offered for sale through Morgan Stanley Smith Barney LLC on or about 10/03/2025, with an aggregate market value of $65,975.04. The shares were acquired as Restricted Stock Units on 10/01/2025 and payment/settlement is recorded as 10/01/2025. The filing also discloses insider sales by Amar Goel of 4,468 shares on 10/02/2025 for $36,788.62 and 8,020 shares on 09/02/2025 for $67,770.60 executed under a Rule 10b5-1 plan. The notice includes standard attestation that the seller is not aware of undisclosed material adverse information.

Positive

• Full disclosure of proposed sale: 7,968 shares and $65,975.04 aggregate value
• Use of Rule 10b5-1 plan for prior sales provides an explicit, pre-arranged trading framework

Negative

• Insider selling activity totaling 12,488 shares in the past month (including planned sale), which increases share supply
• Recent RSUs acquired on 10/01/2025 are being sold almost immediately, showing rapid insider liquidity

Insights

Insider Transactions Analyst

Insider filing shows immediate sale of recent RSUs and prior 10b5-1 sales totaling 12,488 shares.

The filing records the intended sale of 7,968 shares (aggregate value $65,975.04) originating from RSUs granted on 10/01/2025, indicating these awards are already vested or eligible for sale within the reporting window.

The report also lists two recent dispositions by Amar Goel: 4,468 shares sold on 10/02/2025 for $36,788.62 and 8,020 shares sold on 09/02/2025 for $67,770.60, the latter executed under a Rule 10b5-1 plan. These figures are explicit in the form and reflect actual sales activity within the past month.

This disclosure is material to investors tracking insider liquidity and potential share supply; it provides documented dates, quantities, and gross proceeds without additional commentary on rationale.

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

Relationship to Issuer

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	7968	65975.04	37459793	10/03/2025	NASDAQ

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	10/01/2025	Restricted Stock Units	Issuer			7968	10/01/2025	N/A

* 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
AMAR GOEL 601 MARSHALL STREET Redwood City CA 94063	Common	10/02/2025	4468	36788.62
10b5-1 Sales for AMAR GOEL 601 MARSHALL STREET Redwood City CA 94063	Common	09/02/2025	8020	67770.60

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 (PUBM) Form 144 disclose?

The form reports a proposed sale of 7,968 common shares (aggregate market value $65,975.04) and lists recent insider sales of 4,468 and 8,020 shares with gross proceeds of $36,788.62 and $67,770.60 respectively.

Who is the reported seller on the filing for PUBM?

The filing identifies Amar Goel as the person associated with recent sales; the proposed sale is to be executed via Morgan Stanley Smith Barney LLC.

When were the securities acquired that are proposed for sale?

The securities to be sold were acquired as Restricted Stock Units on 10/01/2025, with the same date recorded for payment/settlement.

Were any of the prior sales executed under a 10b5-1 plan?

Yes. The 8,020-share sale on 09/02/2025 is explicitly noted as a 10b5-1 sale.

What exchange will the planned sale be executed on?

The planned sale is listed to occur on NASDAQ with an approximate sale date of 10/03/2025.