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 May 21, 2024, ICONIQ Strategic Partners distributed shares of Procore Technologies common stock to its limited partners.
• The distributions were made by various ICONIQ Strategic Partners funds, including ICONIQ Strategic Partners II, II-B, and II Co-Invest.
• William J.G. Griffith, a director and 10% owner of Procore Technologies, filed the Form 4 to report these transactions.
• The distributions were made pro rata to the partners' interests and were conducted in accordance with exemptions under the Securities Exchange Act of 1934.
• Griffith disclaims beneficial ownership of the securities, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to the distribution of shares. It doesn't inherently convey positive or negative sentiment.

Positives

• The distributions were conducted in accordance with exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934.

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 normal activity within investment partnerships, where shares are distributed to partners according to their pro rata interests. It's common for large shareholders like ICONIQ to periodically distribute shares.

Stakeholder Impact

• The distribution of shares may have a minor impact on the overall shareholder base of Procore Technologies.

Key Dates