Form 4: Procore CFO Designate Rachel Pyles Awarded 152,318 RSUs

Procore Technologies' CFO Designate, Rachel Pyles, was granted 152,318 restricted stock units, aligning her interests with long-term shareholder value.

Summary

• Rachel Pyles, CFO Designate of Procore Technologies, Inc. (PCOR), was granted 152,318 restricted stock units (RSUs).
• These RSUs represent shares of common stock that will be issued upon settlement.
• The transaction date for this acquisition was March 10, 2026.
• The RSUs will vest over time, with one-fourth (1/4th) vesting on the first anniversary of the Vesting Commencement Date.
• Subsequently, one-sixteenth (1/16th) of the RSUs will vest quarterly on February 20, May 20, August 20, and November 20, contingent on Pyles' continued service through each Company Vesting Date.
• Following this transaction, Rachel Pyles beneficially owns 152,318 shares of common stock.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, reflecting the company's commitment to its CFO Designate and aligning executive incentives with shareholder value, which is a standard and healthy corporate governance practice.

Positives

• The grant of 152,318 restricted stock units to CFO Designate Rachel Pyles aligns her incentives with long-term shareholder value.
• This equity award demonstrates the company's commitment to retaining key executive talent in a critical leadership role.

Future Outlook

The vesting schedule for the restricted stock units indicates a long-term retention strategy for Rachel Pyles, aligning her future compensation with the company's performance and her continued service.

Industry Context

StockSavvy.ai notes that the grant of restricted stock units (RSUs) is a standard practice in executive compensation across the technology sector, particularly for key leadership roles like CFO Designate. This mechanism is widely used to attract, retain, and incentivize executives by linking their personal wealth directly to the company's stock performance over time, thereby aligning their interests with those of long-term shareholders.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) for executive compensation is a common practice, comparable to equity incentive programs at companies like Autodesk (ADSK), Salesforce (CRM), and Adobe (ADBE), which frequently utilize RSUs to incentivize their leadership teams.
• The vesting schedule, with an initial cliff followed by quarterly vesting, is typical for such grants, similar to structures seen in compensation packages for executives at peer software companies.

Management Changes

Stakeholder Impact

• Shareholders: Interests are aligned with the CFO Designate through equity ownership, potentially leading to better long-term performance and strategic decision-making.
• Employees: May signal stability in leadership and a commitment to executive retention, potentially boosting morale and confidence in the company's direction.

Next Steps

• Continued service of Rachel Pyles to meet vesting conditions.
• Vesting of one-fourth (1/4th) of RSUs on the first anniversary of the Vesting Commencement Date.
• Subsequent quarterly vesting of one-sixteenth (1/16th) of RSUs on specified dates (Feb 20, May 20, Aug 20, Nov 20).

Key Dates

Keywords

Procore Technologies, PCOR, Rachel Pyles, CFO Designate, Restricted Stock Units, RSU, Insider Transaction, Executive Compensation, Equity Grant, Form 4, Beneficial Ownership