Form 4: Procore Chairman Reports Tax-Related Share Withholding

Procore Technologies Chairman Craig F. Courtemanche Jr. reported the withholding of 12,588 shares to satisfy tax obligations related to RSU vesting.

Summary

• Craig F. Courtemanche Jr., Chairman of the Board at Procore Technologies, Inc., executed a transaction on May 20, 2026.
• The transaction involved the withholding of 12,588 shares of common stock by the issuer.
• The shares were withheld at a price of $47.37 per share to satisfy tax withholding obligations resulting from the vesting of restricted stock units (RSUs).
• Following this transaction, the reporting person maintains a direct beneficial ownership of 914,992 shares of common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it represents a mandatory tax settlement rather than a voluntary change in equity position.

Positives

• The transaction was a routine administrative action related to tax obligations upon RSU vesting rather than a discretionary market sale.

Negatives

• The transaction results in a minor reduction of the reporting person's direct share count.

Risks

• None identified; this is a standard regulatory disclosure for executive compensation tax compliance.

Future Outlook

Not applicable; this is a retrospective disclosure of a completed transaction.

Industry Context

StockSavvy.ai notes that routine tax-related share withholding is a standard practice for executives at publicly traded technology companies and does not typically signal a change in management sentiment or strategic direction.

Comparison to Industry Standards

• The transaction aligns with standard corporate governance practices for equity-based compensation in the software industry.
• The reporting of tax withholding via Form 4 is consistent with SEC requirements for executive officers and directors.

Stakeholder Impact

• Minimal impact on shareholders as the transaction is a standard tax-related administrative process.

Key Dates

Keywords

Procore Technologies, PCOR, Form 4, Insider Trading, Executive Compensation, Tax Withholding