PubMatic director granted 15,811 RSUs

Shulman Yakov (Jacob) reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Shulman Yakov (Jacob) reported acquisition or exercise transactions in this Form 4 filing.

PubMatic, Inc. director Yakov (Jacob) Shulman received a grant of 15,811 restricted stock units (RSUs) linked to Class A Common Stock. Each RSU represents a right to receive one share upon settlement.

The RSUs vest in full on the earlier of the first anniversary of the grant date, immediately before the 2026 annual stockholder meeting, the director’s death or disability, or a change in control. Shulman has elected to defer settlement until the earlier of the third anniversary of the grant date, death or disability, a change in control, or separation of service, at which time shares will be delivered.

Insider Trade Summary

Grant/Award: 15,811 shares

Grant/Award 1 txn

Insider Shulman Yakov (Jacob)

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	15,811	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 15,811 contracts (Direct)

Footnotes (3)

1. F1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement.
2. F2. The RSUs vest in full on the earliest to occur of (a) the first anniversary of the grant date, (b) immediately prior to the Company's annual meeting of stockholders in 2026, (c) the Reporting Person's death or disability, and (d) a change in control of the Issuer. The Reporting Person has elected to defer settlement of the RSUs until the earliest to occur of (i) the third anniversary of the grant date, (ii) the Reporting Person's death or disability, (iii) a change in control of the Issuer, and (iv) the Reporting Person's separation of service from the Issuer. Shares of the Issuer's Class A Common Stock will be delivered to the Reporting Person upon settlement of the RSUs.
3. F3. RSUs do not expire; they either vest or are cancelled prior to vesting date.

Key Figures

RSUs granted: 15,811 units Price per RSU: $0.00 Shares after transaction: 15,811 shares +2 more

5 metrics

RSUs granted 15,811 units Restricted Stock Units awarded to director on May 30, 2025

Price per RSU $0.00 Grant is a stock-based award with no purchase price

Shares after transaction 15,811 shares Total RSU-linked underlying Class A shares following grant

Vesting trigger window First anniversary / 2026 meeting Vests on first anniversary or before 2026 annual meeting, or upon specified events

Deferral period Until third anniversary or key events Settlement deferred until third anniversary, death/disability, change in control, or separation

Key Terms

Restricted Stock Units, Class A Common Stock, change in control, separation of service, +1 more

5 terms

Restricted Stock Units financial

"Each restricted stock unit ("RSU") represents a contingent right to receive one share"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Class A Common Stock financial

"one share of the Issuer's Class A Common Stock upon settlement"

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.

change in control financial

"and (d) a change in control of the Issuer"

A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.

separation of service financial

"and (iv) the Reporting Person's separation of service from the Issuer"

vest financial

"The RSUs vest in full on the earliest to occur of"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

FAQ

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

What insider transaction did PubM (PUBM) report for Yakov (Jacob) Shulman?

PubMatic reported that director Yakov (Jacob) Shulman received 15,811 restricted stock units. These RSUs are a stock-based compensation award, not an open-market share purchase or sale, and give him the right to receive Class A Common Stock upon settlement.

How many RSUs did PubM director Yakov Shulman receive in this Form 4 filing?

Yakov Shulman received 15,811 restricted stock units. Each RSU corresponds to one share of PubMatic’s Class A Common Stock upon settlement, so the award represents 15,811 potential shares if all vest and settle according to the plan’s terms.

When do Yakov Shulman’s PubM RSUs vest according to the Form 4?

The RSUs vest in full on the earliest of the first anniversary of the grant, immediately before the 2026 annual stockholder meeting, the director’s death or disability, or a change in control of PubMatic, as specified in the filing’s footnotes.

When will shares from Yakov Shulman’s PubM RSUs be delivered?

Shulman elected to defer settlement of the RSUs until the earliest of the third anniversary of the grant date, his death or disability, a change in control, or his separation of service. Class A Common Stock shares will be delivered upon that settlement event.

Do the PubM RSUs reported for Yakov Shulman expire if they do not vest?

The filing states that RSUs do not expire. Instead, they either vest according to the specified vesting conditions or are cancelled before the vesting date if those conditions are not satisfied under the award’s terms.

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

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Accepted by SEC EDGAR 04/14/2026 - 05:57 PM EDT 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).

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^*

Shulman Yakov (Jacob)

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/30/2025

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

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
Restricted Stock Units	(1)	05/30/2025		A		15,811		(2)	(3)	Class A Common Stock	15,811	$0	15,811	D

Explanation of Responses:

1. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement.

2. The RSUs vest in full on the earliest to occur of (a) the first anniversary of the grant date, (b) immediately prior to the Company's annual meeting of stockholders in 2026, (c) the Reporting Person's death or disability, and (d) a change in control of the Issuer. The Reporting Person has elected to defer settlement of the RSUs until the earliest to occur of (i) the third anniversary of the grant date, (ii) the Reporting Person's death or disability, (iii) a change in control of the Issuer, and (iv) the Reporting Person's separation of service from the Issuer. Shares of the Issuer's Class A Common Stock will be delivered to the Reporting Person upon settlement of the RSUs.

3. RSUs do not expire; they either vest or are cancelled prior to vesting date.

	/s/ Andrew Woods, Attorney-in-Fact	04/14/2026
	** 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)