<SEC-DOCUMENT>0001725125-26-000001.txt : 20260105
<SEC-HEADER>0001725125-26-000001.hdr.sgml : 20260105
<ACCEPTANCE-DATETIME>20260105191629
ACCESSION NUMBER:		0001725125-26-000001
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260101
FILED AS OF DATE:		20260105
DATE AS OF CHANGE:		20260105

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Soroca Adam Lee
		CENTRAL INDEX KEY:			0001725125
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36384
		FILM NUMBER:		26508736

	MAIL ADDRESS:	
		STREET 1:		C/O THE RUBICON PROJECT, INC.
		STREET 2:		12181 BLUFF CREEK DR., 4TH FLOOR
		CITY:			PLAYA VISTA
		STATE:			MA
		ZIP:			90094

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAGNITE, INC.
		CENTRAL INDEX KEY:			0001595974
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		ORGANIZATION NAME:           	06 Technology
		EIN:				208881738
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1250 BROADWAY
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		BUSINESS PHONE:		212-243-2769

	MAIL ADDRESS:	
		STREET 1:		1250 BROADWAY
		STREET 2:		9TH FLOOR
		CITY:			NEW YORK
		STATE:			NY

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RUBICON PROJECT, INC.
		DATE OF NAME CHANGE:	20140106
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-01062026_120124.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-01-01</periodOfReport>

    <issuer>
        <issuerCik>0001595974</issuerCik>
        <issuerName>MAGNITE, INC.</issuerName>
        <issuerTradingSymbol>MGNI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001725125</rptOwnerCik>
            <rptOwnerName>Soroca Adam Lee</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MAGNITE, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>1250 BROADWAY, 9TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10001</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>CHIEF PRODUCT OFFICER</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2026-01-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>76803</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>402917</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Performance Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2026-01-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>25801</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F4"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>25801</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>25801</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Represents restricted stock units that vest as follows: 20,801 on February 15, 2027, 4,800 on each May 15, August 15, November 15, and February 15 thereafter until November 15, 2029 and 3,202 on February 15, 2030, subject to continued service to the Issuer through each vesting date. This equity grant may be subject to accelerated vesting in the event the Reporting Person's employment is terminated under certain circumstances.</footnote>
        <footnote id="F2">Equity grant under the Company's Amended and Restated 2014 Equity Incentive Plan.</footnote>
        <footnote id="F3">Each performance stock unit (&quot;PSU&quot;) represents a contingent right to receive on vesting one share of the Issuer's common stock.</footnote>
        <footnote id="F4">The PSUs will generally vest on the three-year anniversary of the grant date of the award subject to the Reporting Person's continued service through such date. The number of shares vested will be determined based on the Issuer's total stockholder return (&quot;TSR&quot;) relative to the TSRs of the companies in the Russell 2000 index for the three year-period beginning January 1, 2026, as well as certain interim measurements based on relative TSR for the one-year and two-year periods beginning on January 1, 2026. The number of PSUs reported in column 5 reflects the target number of PSUs subject to the award. The award is eligible to vest as to 0% to 150% of the target number of PSUs.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Aaron Saltz, attorney-in-fact</signatureName>
        <signatureDate>2026-01-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
