PubMatic CFO sells 23,491 shares to cover taxes

The October 2 sales were identified as sell-to-cover transactions for tax withholding obligations tied to RSU vesting and settlement.

Rhea-AI Filing Summary

PubMatic, Inc. Chief Financial Officer Steven Pantelick reported settling 45,664 restricted stock units into 45,664 Class A shares on October 1, 2026. Each RSU represented a right to receive one share at settlement for no consideration. On October 2, he sold 21,398 shares at a weighted average of $18.9289 per share and 2,093 shares at $19.4304 per share to cover tax withholding tied to RSU vesting and settlement; no Rule 10b5-1 plan is reported.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 7 txns

Insider Pantelick Steven

Role CHIEF FINANCIAL OFFICER

Sold 23,491 shs ($446K)

Approx. gross sale proceeds $446K

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F2	21,398	$18.9289	$405K
Sale	Class A Common Stock F1, F3	2,093	$19.4304	$41K
Exercise	Restricted Stock Unit F4, F5, F6	9,546	$0.00	$0.00
Exercise	Restricted Stock Unit F4, F7, F6	8,955	$0.00	$0.00
Exercise	Restricted Stock Unit F4, F8, F6	7,407	$0.00	$0.00
Exercise	Restricted Stock Unit F4, F9, F6	19,756	$0.00	$0.00
Exercise	Class A Common Stock	45,664	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 377,812 contracts (Direct); Class A Common Stock — 32,526 shares (Direct)

Footnotes (9)

1. F1. The sales reported in this line item represent shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs"). The sales were to satisfy tax withholding obligations to be funded by a "sell to cover" transaction.
2. F2. The price reported in this line item is a weighted average price. These shares were sold as part of pooled trades for multiple security holders of the Issuer at prices ranging from $18.38 to $19.3725, inclusive. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein with regard to the pooled trades.
3. F3. The price reported in this line item is a weighted average price. These shares were sold as part of pooled trades for multiple security holders of the Issuer at prices ranging from $19.42 to $19.44, inclusive. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein with regard to the pooled trades.
4. F4. Each RSU represents a right to receive one share of the Issuer's Class A Common Stock at the time of settlement for no consideration.
5. F5. The RSUs vested as to 1/16th of the total award on April 1, 2023, and 1/16th of the total award will vest quarterly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
6. F6. RSUs do not expire; they either vest or are canceled prior to the vesting date.
7. F7. The RSUs vested as to 1/16th of the total award on April 1, 2024, and 1/16th of the total award will vest quarterly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
8. F8. The RSUs vested as to 1/16th of the total award on April 1, 2025, and 1/16th of the total award will vest quarterly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.
9. F9. The RSUs vested as to 1/16th of the total award on April 1, 2026, and 1/16th of the total award will vest quarterly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

Key Figures

Restricted stock units settled: 45,664 RSUs Class A shares acquired: 45,664 shares Shares sold: 21,398 shares +3 more

6 metrics

Restricted stock units settled 45,664 RSUs October 1, 2026

Class A shares acquired 45,664 shares October 1, 2026

Shares sold 21,398 shares October 2, 2026; sell-to-cover transaction

Weighted average sale price $18.9289 per share 21,398-share sale on October 2, 2026

Shares sold 2,093 shares October 2, 2026; sell-to-cover transaction

Weighted average sale price $19.4304 per share 2,093-share sale on October 2, 2026

Key Terms

Restricted Stock Unit, sell to cover, weighted average price, pooled trades

4 terms

Restricted Stock Unit financial

"Each RSU represents a right to receive one share"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

sell to cover financial

"funded by a sell to cover transaction"

Sell to cover is when a person who receives company stock through options or awards sells just enough shares immediately to pay required taxes, exercise costs, or fees, keeping the rest. Think of it like cashing part of a bonus to cover the tax bill so you can keep the remainder. For investors, it can create predictable small selling pressure and slightly change the number of shares actually held by insiders without increasing long‑term dilution.

weighted average price financial

"The price reported in this line item is a weighted average price"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

pooled trades financial

"These shares were sold as part of pooled trades"

FAQ

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

How many PUBM shares did CFO Steven Pantelick sell, and at what prices?

Steven Pantelick sold 23,491 shares on October 2, 2026: 21,398 at a weighted average price of $18.9289 per share and 2,093 at a weighted average price of $19.4304 per share. The sales were to cover tax withholding obligations connected with RSU vesting and settlement; no Rule 10b5-1 plan is reported.

How many PUBM shares did Steven Pantelick receive from RSU settlement?

On October 1, 2026, the reported transactions included the settlement of 45,664 RSUs and the acquisition of 45,664 Class A shares. Each RSU represented a right to receive one share at settlement for no consideration.

What price ranges were reported for Steven Pantelick's PUBM sales?

The 21,398-share sale was part of pooled trades at prices ranging from $18.38 to $19.3725, inclusive. The 2,093-share sale was part of pooled trades at prices ranging from $19.42 to $19.44, inclusive.

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

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Available on EDGAR 10/05/2026 - 05:46 PM Accepted by SEC EDGAR 10/05/2026 - 05:46 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).

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^*

Pantelick Steven

(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)
	CHIEF FINANCIAL OFFICER

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

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	10/01/2026		M		45,664	A	$0	56,017	D
Class A Common Stock	10/02/2026		S(1)		21,398	D	$18.9289(2)	34,619	D
Class A Common Stock	10/02/2026		S(1)		2,093	D	$19.4304(3)	32,526	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
Restricted Stock Unit	$0(4)	10/01/2026		M			9,546	(5)	(6)	Class A Common Stock	9,546	$0	9,546	D
Restricted Stock Unit	$0(4)	10/01/2026		M			8,955	(7)	(6)	Class A Common Stock	8,955	$0	44,775	D
Restricted Stock Unit	$0(4)	10/01/2026		M			7,407	(8)	(6)	Class A Common Stock	7,407	$0	66,662	D
Restricted Stock Unit	$0(4)	10/01/2026		M			19,756	(9)	(6)	Class A Common Stock	19,756	$0	256,829	D

Explanation of Responses:

1. The sales reported in this line item represent shares sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs"). The sales were to satisfy tax withholding obligations to be funded by a "sell to cover" transaction.

2. The price reported in this line item is a weighted average price. These shares were sold as part of pooled trades for multiple security holders of the Issuer at prices ranging from $18.38 to $19.3725, inclusive. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein with regard to the pooled trades.

3. The price reported in this line item is a weighted average price. These shares were sold as part of pooled trades for multiple security holders of the Issuer at prices ranging from $19.42 to $19.44, inclusive. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein with regard to the pooled trades.

4. Each RSU represents a right to receive one share of the Issuer's Class A Common Stock at the time of settlement for no consideration.

5. The RSUs vested as to 1/16th of the total award on April 1, 2023, and 1/16th of the total award will vest quarterly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

6. RSUs do not expire; they either vest or are canceled prior to the vesting date.

7. The RSUs vested as to 1/16th of the total award on April 1, 2024, and 1/16th of the total award will vest quarterly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

8. The RSUs vested as to 1/16th of the total award on April 1, 2025, and 1/16th of the total award will vest quarterly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

9. The RSUs vested as to 1/16th of the total award on April 1, 2026, and 1/16th of the total award will vest quarterly thereafter, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

	/s/ Andrew Woods, Attorney-in-Fact	10/05/2026
	** 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)