Pantelick Steven, Chief Financial Officer of PubMatic (PUBM), has demonstrated a consistent pattern of selling activity over the past year, with no recorded purchases in SEC Form 4 filings. Since July 2025, Steven has executed seven sales totaling approximately $955,262, with transactions ranging from $31,011 to $201,221. The largest single sale occurred on July 3, 2025, when he disposed of shares worth $201,221, followed closely by another sale the previous day for $195,545. More recently, in January 2026, he sold $162,051 and $108,238 worth of PUBM stock in separate transactions, reinforcing a clear divestment trend.
The filings also show multiple instances of stock awards (coded "M") and option conversions (coded "C"), though these non-sale transactions carried no reported value. Steven’s selling activity has been concentrated in PUBM, with no trades disclosed in other companies. The absence of any buys—coupled with repeated sales—suggests a sustained reduction in his equity position. While the reasons for these sales are not disclosed, the pattern aligns with executives periodically liquidating vested shares, particularly given the CFO’s role and the company’s equity compensation structure. The transactions, spread across multiple months, do not indicate a single bulk exit but rather a methodical unwinding of holdings.
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