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PubMatic Executive Compensation (FY25)

PUBM · Redwood City, CA · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): June 3, 2026
250 figures on this page: 245 cited to the filing that reported them, 5 calculated from figures it prints. See the citations
Total compensation for Rajeev Goel, Chief Executive Officer, came to $9,070,656 in fiscal 2025, and Goel's total was 1.0% lower than the $9,165,522 reported for fiscal 2024. Meanwhile, the company reported a chief executive pay ratio of 147:1 for fiscal 2025, against median employee compensation of $61,501. Separately, shareholders supported the say-on-pay proposal with 96.8% of votes cast for or against in favor at the meeting held May 29, 2026 for fiscal 2025. Companies named in the disclosed peer group include A10 Networks, Cerence, Commvault Systems, InterDigital and LiveRamp, among others.
Chief executive, fiscal 2025
◇
Rajeev Goel
Latest say-on-pay support
=
May 29, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Rajeev Goel: $9,165,522 → $9,070,656 (1.0% lower)
Say-on-pay support: 94.8% → 96.8% (2.0 points higher)
CEO pay ratio: 167:1 → 147:1 (12.0% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is PubMatic's chief executive and what were they paid?
Total compensation for Rajeev Goel, Chief Executive Officer, came to $9,070,656 in fiscal 2025. Goel's total was 1.0% lower than the $9,165,522 reported for fiscal 2024.
What was PubMatic's say-on-pay result?
Shareholders supported the say-on-pay proposal with 96.8% of votes cast for or against in favor at the meeting held May 29, 2026 for fiscal 2025.
Which companies are in PubMatic's peer group?
Companies named in the disclosed peer group include A10 Networks, Cerence, Commvault Systems, InterDigital and LiveRamp, among others.
What is PubMatic's chief executive pay ratio?
The company reported a chief executive pay ratio of 147:1 for fiscal 2025, against median employee compensation of $61,501.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Rajeev Goel
Chief Executive Officer
◇—◇◇◇——◇
Steven Pantelick
Chief Financial Officer
◇—◇◇◇——◇
Jeffrey Hirsch
Chief Commercial Officer
◇—◇◇◇——◇
Amar Goel
Chief Innovation Officer
◇—◇◇◇——◇
Mukul Kumar
President of Engineering
◇—◇◇◇——◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Rajeev Goel
Chief Executive Officer
◇—◇◇◇——◇
Steven Pantelick
Chief Financial Officer
◇◇◇◇◇——◇
Amar Goel
Chief Innovation Officer
◇—◇◇◇——◇
Paulina Klimenko
Chief Growth Officer
◇◇◇◇◇——◇
Mukul Kumar
President of Engineering
◇—◇◇◇——◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Rajeev Goel
Chief Executive Officer
◇—◇◇◇——◇
Steven Pantelick
Chief Financial Officer
◇◇◇◇◇——◇
Paulina Klimenko
Chief Growth Officer
◇◇◇◇◇——◇
Amar Goel
Chief Innovation Officer
◇—◇◇◇——◇
Mukul Kumar
President of Engineering
◇—◇◇◇——◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Rajeev Goel
Chief Executive Officer
◇—◇◇◇——◇
Steven Pantelick
Chief Financial Officer
◇◇◇◇◇——◇
Paulina Klimenko
Chief Growth Officer
◇◇◇◇◇——◇
Amar Goel
Chief Innovation Officer
◇—◇◇◇——◇
Mukul Kumar
President of Engineering
◇—◇◇◇——◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Amar K. GoelRSU◇——◇——◇
Amar K. GoelOPTION◇——◇—◇◇
Mukul KumarRSU◇——◇——◇
Mukul KumarOPTION◇——◇—◇◇
Paulina KlimenkoRSU◇——◇——◇
Paulina KlimenkoOPTION◇——◇—◇◇
Rajeev K. GoelRSU◇——◇——◇
Rajeev K. GoelOPTION◇——◇—◇◇
Steven PantelickRSU◇——◇——◇
Steven PantelickOPTION◇——◇—◇◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Rajeev GoelRSU◇◇——
Option◇—◇01/01/2024
Option◇—◇01/01/2023
RSU◇◇——
RSU◇◇——
Option◇—◇01/01/2025
Amar GoelRSU◇◇——
RSU◇◇——
Option◇—◇01/01/2024
Option◇—◇01/01/2023
Option◇—◇01/01/2025
RSU◇◇——
Steven PantelickRSU◇◇——
Option◇—◇01/01/2024
Option◇—◇01/01/2023
RSU◇◇——
RSU◇◇——
Option◇—◇01/01/2025
Mukul KumarRSU◇◇——
RSU◇◇——
Option◇—◇01/01/2025
Option◇—◇01/01/2024
RSU◇◇——
Option◇—◇01/01/2023
Paulina KlimenkoOption◇—◇01/01/2023
Option◇—◇01/01/2024
Option◇—◇01/01/2025
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Susan Daimler
◇◇————◇
Jacob Shulman
◇◇————◇
Shelagh Glaser
◇◇————◇
Ramon Jones
◇◇————◇
Nick Mehta
◇◇————◇
Anton Hanebrink
◇◇————◇
Amar K. Goel and Rajeev K. Goel served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board equity retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • A10 Networks ATEN
  • Cerence CRNC
  • Commvault Systems CVLT
  • InterDigital IDCC
  • LiveRamp RAMP
  • Magnite MGNI
  • Progress Software PRGS
  • Qualys QLYS
  • Rapid7 RPD
  • Repay RPAY
  • Shutterstock SSTK
  • Sprout Social SPT
  • TechTarget TTGT
  • Viant Technology DSP

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 29, 2026=◇◇◇
2024May 30, 2025=◇◇◇
2023May 31, 2024=◇◇◇
2022May 31, 2023=◇◇◇
2021June 1, 2022=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact PubMatic disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where PubMatic sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
250 figures on this page: 245 cited to the filing that reported them, 5 calculated from figures it prints.
245 cited to the filing
5 calculated from the filing

Documents cited

  1. 0001422930-26-000026
  2. 0001140361-26-014825
    CEO Pay Ratio · DIRECTOR SKILLS & · Grants of Plan-Based Awards · Outstanding Equity Awards at 2025 Fiscal Year-End · and 1 more section
  3. 0001422930-25-000029
  4. 0001140361-25-014375
    Summary Compensation Table
  5. 0001422930-24-000030
  6. 0001140361-24-020519
    Summary Compensation Table
  7. 0001422930-23-000026
  8. 0001140361-23-019595
    Summary Compensation Table
  9. 0001422930-22-000031
    Item 5.07 Submission of Matters to a Vote of Security Holders
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This page is free to cite. Attribution we ask for:
Velarion, “PubMatic executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PUBM (accessed 2026).
Short form: data: Velarion
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Tech — Software rankings

Chief executive pay — Tech — SoftwareCEO pay ratio — Tech — SoftwareSay-on-pay support — Tech — Software

Peers PubMatic discloses

The companies named in PUBM's own disclosed peer group.

Commvault SystemsLiveRampMagniteProgress SoftwareQualysRepayShutterstockViant Technology

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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