Amar K. Goel, Chairman and Chief Innovation Officer of PubMatic, Inc., filed a Form 4 on September 4, 2026, reporting transactions in Class A Common Stock dated September 3, 2026, on NASDAQ:PUBM.

Key Highlights

  • Sale of 6,250 shares: Goel disposed of 6,250 shares of Class A Common Stock at a weighted average price of $17.0443, with individual sale prices ranging from $16.795 to $17.73.
  • Rule 10b5-1 plan: The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by Goel on June 4, 2026.
  • Option exercise: Goel exercised a fully vested stock option to acquire 6,250 shares of Class B Common Stock at an exercise price of $2.15, with an expiration date of May 21, 2027.
  • Class B conversion: The 6,250 Class B shares converted into 6,250 Class A shares, per the issuer's automatic conversion provision on transfer.
  • Direct ownership after transactions: Goel directly holds 35,580 shares of Class A Common Stock following the reported transactions.
  • Indirect holdings: Goel also holds shares indirectly through multiple trusts, including 755,314 shares via the Marais Irrevocable Trust, 755,584 via the Tuscan Irrevocable Trust, and 1,231,585 via the Birchwood Trust, among others.

Goel's September 2026 PubMatic Share Transactions: Option Exercise, Conversion, and Planned Sale

According to the filing, Amar K. Goel, who serves as Chairman and Chief Innovation Officer of PubMatic, Inc. and is identified as a Director, Officer, and 10% Owner, carried out a sequence of three transactions on September 3, 2026. First, he exercised a fully vested stock option to acquire 6,250 shares of Class B Common Stock at an exercise price of $2.15 per share. Second, those 6,250 Class B shares were converted into 6,250 shares of Class A Common Stock, consistent with the filing's footnote explaining that Class B shares held by executive officers and directors convert automatically into Class A shares upon transfer, except for certain permitted transfers.

Third, the filing reports that Goel sold 6,250 shares of Class A Common Stock at a weighted average sale price of $17.0443. The filing states that the lowest price at which shares were sold was $16.795 and the highest was $17.73. The sales were conducted pursuant to a Rule 10b5-1 trading plan Goel adopted on June 4, 2026. Following these transactions, Goel directly beneficially owns 35,580 shares of Class A Common Stock.

In addition to his direct holdings, the filing discloses substantial indirect beneficial ownership across several trusts. Goel holds 755,584 shares indirectly through the Tuscan Irrevocable Trust, of which he is a beneficiary, and 1,231,585 shares through the Birchwood Trust, of which he and his spouse are beneficiaries. He also holds 443,414 shares as custodian for his children under the California Uniform Transfers to Minors Act. For holdings in the Marais Irrevocable Trust (755,314 shares), the RAJN Trust-A (524,162 shares), and the RAJN Trust-N (524,247 shares), the filing states that Goel disclaims beneficial ownership except to the extent of any pecuniary interest.

What Was Disclosed

The filing reports that Amar K. Goel exercised a vested option, converted Class B shares to Class A, and sold 6,250 Class A shares at a weighted average of $17.0443 under a pre-established 10b5-1 plan, leaving him with 35,580 shares held directly.