Goel Rajeev K.

A fixed $3.89 strike against a stable $13.90 market defines Rajeev K. Goel's recent selling at PubMatic, the company he co-founded — a Form 4 record of 419 transactions since 2020, entirely on the selling side, with 2.59 million shares sold and zero bought. His recent activity follows a consistent three-step structure: exercise ("M") at a fixed $3.89 strike, convert the resulting shares to the publicly traded class ("C"), then sell ("S") at market price the same day. Unlike several other insiders in this dataset, the market prices here show unusual stability — every sale between July 1 and July 16, 2026 landed in a tight $13.65-$13.94 band, representing a consistent 250-258% embedded gain over the fixed strike on each tranche.