Rajeev K. Goel - 17 Feb 2026 Form 4 Insider Report for PubMatic, Inc. (PUBM)

Reporting relationship: CHIEF EXECUTIVE OFFICER, Director, 10%+ Owner
Issuer ticker: PUBM
Reported as of: 17 Feb 2026
Net transaction value: -$227,401
SEC form: 4
Accepted by SEC: 19 Feb 2026, 17:05:32 UTC
Prior SEC filing: 02 Feb 2026
Next SEC filing: 11 Mar 2026
Source filing: View source filing
Reporting owner signature: /s/ Andrew Woods, Attorney-in-Fact

Key filing fact

Rajeev K. Goel filed Form 4 for PubMatic, Inc. (PUBM) on 19 Feb 2026.

Key facts

This page summarizes Rajeev K. Goel's Form 4 filing for PubMatic, Inc. (PUBM).
6 reported transactions and 10 derivative rows are listed below.
Accepted by SEC: 19 Feb 2026, 17:05.

Change

Previous filing in this sequence was filed on 02 Feb 2026.
Current net transaction value: -$227,401.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001833511 Primary reporting owner

Goel Rajeev K.

Relationship: CHIEF EXECUTIVE OFFICER, Director, 10%+ Owner
Address: C/O PUBMATIC, INC., 601 MARSHALL STREET, REDWOOD CITY
Signature: /s/ Andrew Woods, Attorney-in-Fact
Signature date: 19 Feb 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PUBM transaction

Class A Common Stock

Conversion of derivative security

Transaction value
Shares: +44,000
Change %
Price
Shares after: 44,000
Date: 17 Feb 2026
Ownership: Direct
Footnotes: F1

PUBM transaction

Class A Common Stock

Sale

Transaction value: $276,241
Shares: -44,000
Change %: -100%
Price: $6.28
Shares after: 0
Date: 17 Feb 2026
Ownership: Direct
Footnotes: F2, F3, F4, F5

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PUBM transaction Derivative

Stock Option (Right to buy Class B Common Stock)

Options Exercise

Transaction value: $0
Shares: -44,000
Change %: -18%
Price: $0.000000
Shares after: 201,462
Date: 17 Feb 2026
Ownership: Direct
Underlying class: Class B Common Stock
Underlying amount: 44,000
Exercise price: $1.11
Footnotes: F6

PUBM transaction Derivative

Class B Common Stock

Options Exercise

Transaction value: $48,840
Shares: +44,000
Change %: +21%
Price: $1.11
Shares after: 254,984
Date: 17 Feb 2026
Ownership: Direct
Underlying class: Class B Common Stock
Underlying amount: 44,000
Exercise price
Footnotes: F1

PUBM transaction Derivative

Class B Common Stock

Conversion of derivative security

Transaction value: $0
Shares: -44,000
Change %: -17%
Price: $0.000000
Shares after: 210,984
Date: 17 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 44,000
Exercise price
Footnotes: F1

PUBM transaction Derivative

Restricted Stock Units

Award

Transaction value: $0
Shares: +694,017
Change %
Price: $0.000000
Shares after: 694,017
Date: 17 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 694,017
Exercise price
Footnotes: F7, F8, F9

PUBM holding Derivative

Class B Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 581,260
Date: 17 Feb 2026
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 581,260
Exercise price
Footnotes: F1, F10

PUBM holding Derivative

Class B Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 400,000
Date: 17 Feb 2026
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 400,000
Exercise price
Footnotes: F1, F11

PUBM holding Derivative

Class B Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 68,616
Date: 17 Feb 2026
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 68,616
Exercise price
Footnotes: F1, F12

PUBM holding Derivative

Class B Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 308,775
Date: 17 Feb 2026
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 308,775
Exercise price
Footnotes: F1, F13

PUBM holding Derivative

Class B Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 308,775
Date: 17 Feb 2026
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 308,775
Exercise price
Footnotes: F1, F13

PUBM holding Derivative

Class B Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 483,784
Date: 17 Feb 2026
Ownership: See footnote
Underlying class: Class A Common Stock
Underlying amount: 483,784
Exercise price
Footnotes: F1, F14

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 14 footnotes

Footnote F1

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, except for certain permitted transfers.

Footnote F2

Following the sales reported in this line item, Mr. Goel holds 2,362,194 shares of Class A Common Stock and Class B Common Stock, which figure does not reflect vested but unexercised options, unvested options, or unvested restricted stock units, each as of the date of filing. The option award under which these shares were exercised expires on July 7, 2026.

Footnote F3

The sales reported in this line item were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 2, 2025.

Footnote F4

These securities were transferred by the Reporting Person to The Goel Family Trust, of which the Reporting Person and his spouse are beneficiaries, and were sold by the Goel Family Trust as reported herein.

Footnote F5

Represents the weighted average sale price. The lowest price at which shares were sold was $6.155 and the highest price at which shares were sold was $6.51. 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.

Footnote F6

The options are fully vested.

Footnote F7

Each restricted stock unit ("RSU") represents a right to receive one share of the Issuer's Class A Common Stock at the time of vesting for no consideration.

Footnote F8

The RSUs vest as to 1/16 of the total shares quarterly beginning on April 1, 2026, subject to the Reporting Person's provision of service to the Issuer on each vesting date.

Footnote F9

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

Footnote F10

These securities are held by the Reporting Person, as custodian for the benefit of his children under the California Uniform Transfers to Minors Act.

Footnote F11

These securities are held by The Goel Heritage Trust, of which the Reporting Person's children are beneficiaries. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Footnote F12

These securities are held by The Goel Family Gift Trust, of which family members and certain other individuals are beneficiaries. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Footnote F13

These securities are held by a trust for the benefit of the Reporting Person's child. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Footnote F14

These securities are held by The Goel Family Trust, of which the Reporting Person and his spouse are beneficiaries.

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