Form 4: Director Elisa Steele Receives Procore RSU Grant

Director Elisa Steele acquired 4,712 restricted stock units in Procore Technologies, Inc. as part of equity compensation.

Summary

• Director Elisa Steele was granted 4,712 restricted stock units (RSUs) of Procore Technologies, Inc. common stock.
• The transaction occurred on June 4, 2026.
• The RSUs are scheduled to vest in full on the date of the company's 2027 annual meeting of stockholders, contingent upon continued service.
• The reporting person has elected to defer receipt of the underlying common stock until 90 days after termination of service or upon a change in control.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing reflecting standard director compensation practices.

Positives

• Alignment of director interests with long-term shareholder value through equity-based compensation.

Negatives

• None identified; this is a standard equity grant for a board member.

Risks

• Vesting is subject to the director's continued service through the 2027 annual meeting.

Future Outlook

The RSUs will vest at the 2027 annual meeting of stockholders, with delivery of shares deferred until after the director's service terminates or a change in control occurs.

Industry Context

StockSavvy.ai notes that equity grants to independent directors are standard corporate governance practice in the SaaS and construction technology sectors to ensure board alignment with shareholder interests.

Comparison to Industry Standards

• The grant of RSUs to non-employee directors is consistent with compensation practices at peer software companies like Autodesk and Bentley Systems.
• The deferral election is a common tax and estate planning feature utilized by board members in public technology firms.

Stakeholder Impact

• Minimal impact on shareholders as this represents standard director compensation.

Next Steps

• Vesting of RSUs at the 2027 annual meeting of stockholders.

Key Dates

Keywords

Procore Technologies, PCOR, Form 4, Insider Trading, Director Compensation, Restricted Stock Units