Form 4: Procore Chairman Sells Shares for Tax Obligation

Procore Technologies' Chairman, Craig F. Courtemanche Jr., reported a disposition of 27,344 common shares to cover tax obligations from vested restricted stock units.

Summary

• Craig F. Courtemanche Jr., Chairman of the Board and Director of Procore Technologies, Inc. (PCOR), reported a transaction on February 20, 2026.
• The transaction involved the disposition of 27,344 shares of common stock at a price of $52.02 per share.
• These shares were withheld by the Issuer to satisfy a tax obligation incurred by Mr. Courtemanche upon the vesting of restricted stock units.
• Following this transaction, Mr. Courtemanche directly beneficially owns 927,580 shares of common stock.
• Indirect beneficial ownership includes 2,692,461 shares held by the Craig F. Courtemanche and Hillary Courtemanche Family Trust, 1,155,480 shares by the Courtemanche 2021 Irrevocable Trust, 527,349 shares by The Courtemanche 2016 Irrevocable Trust, and 23,736 shares by his spouse.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a routine administrative transaction for tax purposes following the vesting of equity awards, rather than a discretionary sale.

Positives

• The underlying event for the share disposition was the vesting of restricted stock units, indicating compensation and continued equity alignment for the Chairman.

Negatives

• The disposition of shares, even for tax purposes, reduces the direct beneficial ownership of the Chairman.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that routine Form 4 filings, such as this one detailing tax-related share dispositions, are common across all industries for executives and directors receiving equity compensation. They typically do not reflect a change in strategic direction or a negative outlook on the company's future, but rather a standard administrative process related to compensation.

Stakeholder Impact

• Minimal impact on shareholders as this is a routine, non-discretionary transaction for tax purposes by an insider.
• No direct impact on employees, customers, suppliers, or creditors.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary sale of shares by the Chairman to cover tax obligations arising from vested restricted stock units. Such transactions are common and do not typically signal a change in the company's fundamentals or the insider's long-term view. Therefore, it does not warrant a change in investment recommendation based solely on this filing.

Keywords

Procore Technologies, PCOR, Craig F. Courtemanche Jr., Form 4, Insider Trading, Share Disposition, Restricted Stock Units, Tax Withholding, Director, Chairman