Form 4: ICONIQ Capital Distributes Procore Technologies Shares to Limited Partners

William J.G. Griffith, a director and 10% owner of Procore Technologies, reports the distribution of common stock by ICONIQ Strategic Partners to its limited partners.

Summary

• On June 10, 2024, ICONIQ Strategic Partners distributed shares of Procore Technologies common stock to its limited partners.
• The distributions were made by ICONIQ Strategic Partners II, L.P., ICONIQ Strategic Partners II-B, L.P., and ICONIQ Strategic Partners II Co-Invest, L.P., to their respective limited partners and ICONIQ Strategic Partners GP II, L.P.
• ICONIQ Strategic Partners GP II, L.P. further distributed the shares it received to its partners.
• These distributions were made for no consideration and represented each partner's pro rata interest in the shares.
• William J.G. Griffith, a director of Procore Technologies and a General Partner and Managing Director at ICONIQ Capital, disclaims beneficial ownership of the securities except to the extent of his pecuniary interest.
• Griffith also holds shares through family trusts, for which he disclaims beneficial ownership except for his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to share distribution, indicating a neutral sentiment.

Management Comments

• The Reporting Person disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any.
• This report shall not be deemed an admission that the Reporting Person is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

Industry Context

This filing reflects the ongoing management and distribution of shares within investment partnerships, a common practice in the venture capital and private equity industries.

Stakeholder Impact

• The distribution of shares may have a minor impact on the shareholder base of Procore Technologies.
• The distributions do not appear to have a material impact on the company's operations or financial condition.

Key Dates