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PubMatic chairman sells shares worth over $8,700 to cover tax By Investing.com

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PubMatic, Inc. (NASDAQ:PUBM) Chairman and Chief Innovation Officer Amar K. Goel recently sold a portion of his holdings in the company. According to the latest regulatory filings, Goel sold 369 shares of Class A Common Stock at prices ranging from $23.52 to $23.76, with the weighted average price being $23.6366 per share. The total value of the shares sold amounted to approximately $8,721.

The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). These transactions are a common practice where executives sell shares to satisfy tax liabilities that arise when RSUs vest. It’s noteworthy that the RSUs vest over time, as part of the executive’s compensation package, and do not require any monetary consideration upon settlement.

Furthermore, the filings indicate that Goel acquired 1005 shares of Class A Common Stock on the same date as the sale, March 31, 2024. This acquisition was also related to the vesting of RSUs, which represents a right to receive shares of the company’s stock when they settle.

After the reported transactions, Goel’s direct ownership in PubMatic has adjusted, reflecting the new balance of shares following the sale and acquisition. Investors often monitor these filings to gain insight into executives’ confidence in their company’s performance and prospects.

PubMatic, headquartered in Redwood (NYSE:) City, California, operates within the technology sector, specializing in services related to computer programming, data processing, and other related areas. The company’s stock is publicly traded on the NASDAQ exchange under the ticker symbol PUBM.

This information is based on the latest Form 4 filings with the Securities and Exchange Commission and provides a glimpse into the trading activity of PubMatic’s top executive. It is important for investors to consider such disclosures when evaluating their investment decisions in the company.

InvestingPro Insights

PubMatic, Inc. (NASDAQ:PUBM), a key player in the technology sector, has displayed a notable financial performance according to recent data. The company holds a market capitalization of approximately $1.18 billion, which is a reflection of its standing in the industry. An InvestingPro Tip worth noting is that PubMatic has more cash than debt on its balance sheet, showcasing a strong financial position. This could be a reassuring factor for investors, especially in the context of the company’s executive transactions.

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