PubMatic officer sells 8,000 shares at $16.78

PubM’s President, Engineering exercised 8,000 options and sold the resulting 8,000 Class A shares under a pre-arranged Rule 10b5-1 plan.

Rhea-AI Filing Summary

PubMatic, Inc. (PUBM) reported that President, Engineering Mukul Kumar exercised stock options and sold shares on September 16, 2026. He exercised 8,000 options for Class B common stock at an exercise price of $2.15 per share, reducing his option holdings in that grant to 15,000 options outstanding. Those 8,000 Class B shares, held by an executive officer, automatically converted into 8,000 Class A common shares, which were then sold at a weighted average price of $16.7785 per share under a Rule 10b5-1 trading plan adopted on March 3, 2026. The filing does not list his total remaining Class A share holdings.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 5 txns

Insider Kumar Mukul

Role PRESIDENT, ENGINEERING

Sold 8,000 shs ($134K)

Approx. gross sale proceeds $134K

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to buy Class B Common Stock) F3	8,000	$0.00	$0.00
Exercise	Class B Common Stock F4	8,000	$2.15	$17K
Conversion	Class B Common Stock F4	8,000	$0.00	$0.00
Conversion	Class A Common Stock	8,000	$0.00	$0.00
Sale	Class A Common Stock F1, F2	8,000	$16.7785	$134K

Holdings After Transaction: Stock Option (Right to buy Class B Common Stock) — 15,000 contracts (Direct); Class B Common Stock — 135,600 contracts (Direct); Class A Common Stock — 112,945 shares (Direct)

Footnotes (4)

1. F1. The sales reported in this line item were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 3, 2026.
2. F2. Represents the weighted average sale price. The lowest price at which shares were sold was $16.68 and the highest price at which shares were sold was $16.88. The Reporting Person undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the range set forth herein.
3. F3. The options are fully vested.
4. F4. Each share of Class B common stock held by the Issuer's executive officers, directors and their respective affiliates will convert automatically into one share of Class A common stock upon any transfer that occurs after the closing of the Issuer's initial public offering, except for certain permitted transfers.

Key Figures

Options exercised: 8,000 options Option exercise price: $2.15 per share Shares sold: 8,000 shares +5 more

8 metrics

Options exercised 8,000 options Stock options for Class B common stock exercised on September 16, 2026

Option exercise price $2.15 per share Exercise price of the 8,000 stock options exercised

Shares sold 8,000 shares Class A common stock sold on September 16, 2026

Weighted average sale price $16.7785 per share Weighted average price for the 8,000 Class A shares sold

Sale price range $16.68–$16.88 per share Lowest and highest prices at which the Class A shares were sold

Remaining options from grant 15,000 options Stock options reported as held after the 8,000-option exercise

Option expiration date May 1, 2027 Expiration date of the option grant from which 8,000 options were exercised

10b5-1 plan adoption date March 3, 2026 Date Mukul Kumar adopted the Rule 10b5-1 trading plan used for the sale

Key Terms

Rule 10b5-1 trading plan, weighted average sale price, Class B common stock, Class A common stock, +2 more

6 terms

Rule 10b5-1 trading plan regulatory

"sales reported in this line item were effected pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average sale price financial

"Represents the weighted average sale price. The lowest price at which"

Class B common stock financial

"Stock Option (Right to buy Class B Common Stock)"

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

Class A common stock financial

"convert automatically into one share of Class A common stock upon any transfer"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

automatic conversion financial

"will convert automatically into one share of Class A common stock upon any transfer"

fully vested financial

"The options are fully vested."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did PubMatic (PUBM) report for Mukul Kumar on September 16, 2026?

On September 16, 2026, Mukul Kumar exercised 8,000 stock options for Class B common stock, which converted into 8,000 Class A shares, and then sold those Class A shares in a reported transaction.

How many PubMatic (PUBM) shares did Mukul Kumar sell and at what price?

Mukul Kumar sold 8,000 shares of PubMatic Class A common stock at a weighted average price of $16.7785 per share, with individual sale prices ranging from $16.68 to $16.88.

What was the exercise price of the PubMatic (PUBM) options exercised by Mukul Kumar?

The 8,000 stock options exercised by Mukul Kumar had an exercise price of $2.15 per share, and the filing states that the options are fully vested with an expiration date of May 1, 2027.

Does Mukul Kumar still hold PubMatic (PUBM) stock options after this Form 4 transaction?

Yes. After exercising 8,000 options, the Form 4 reports that Mukul Kumar holds 15,000 stock options from that option grant following the transaction.

Was Mukul Kumar’s PubMatic (PUBM) share sale made under a Rule 10b5-1 trading plan?

Yes. The sale of 8,000 Class A shares was effected pursuant to a Rule 10b5-1 trading plan adopted by Mukul Kumar on March 3, 2026, and the filing affirms use of such a plan.

How were PubMatic (PUBM) Class B and Class A shares treated in Mukul Kumar’s transaction?

Mukul Kumar exercised options for 8,000 Class B shares. Under PubMatic’s structure, each such Class B share held by executive officers automatically converted into one Class A share upon transfer, after which 8,000 Class A shares were sold.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/18/2026 - 04:10 PM Accepted by SEC EDGAR 09/18/2026 - 04:09 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kumar Mukul

(Last) (First) (Middle)

C/O PUBMATIC, INC.

601 MARSHALL STREET

(Street)

REDWOOD CITY CALIFORNIA 94063

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PubMatic, Inc. [ PUBM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT, ENGINEERING

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/16/2026		C		8,000	A	$0	120,945	D
Class A Common Stock	09/16/2026		S(1)		8,000	D	$16.7785(2)	112,945	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to buy Class B Common Stock)	$2.15	09/16/2026		M			8,000	(3)	05/01/2027	Class B Common Stock	8,000	$0	15,000	D
Class B Common Stock	(4)	09/16/2026		M		8,000		(4)	(4)	Class A Common Stock	8,000	$2.15	143,600	D
Class B Common Stock	(4)	09/16/2026		C			8,000	(4)	(4)	Class A Common Stock	8,000	$0	135,600	D

Explanation of Responses:

1. The sales reported in this line item were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 3, 2026.

2. Represents the weighted average sale price. The lowest price at which shares were sold was $16.68 and the highest price at which shares were sold was $16.88. The Reporting Person undertakes to provide upon request to the staff of the Securities and Exchange Commission, the Issuer or its stockholders, full information regarding the total number of shares sold at each separate price within the range set forth herein.

3. The options are fully vested.

4. Each share of Class B common stock held by the Issuer's executive officers, directors and their respective affiliates will convert automatically into one share of Class A common stock upon any transfer that occurs after the closing of the Issuer's initial public offering, except for certain permitted transfers.

	/s/ Andrew Woods, Attorney-in-Fact	09/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)