Form 4: Procore CLO Benjamin Singer Reports Stock Withholding
Statement of Changes in Beneficial Ownership
Procore Technologies Chief Legal Officer Benjamin C. Singer reported the withholding of 5,849 shares to satisfy tax obligations.
Summary
- Benjamin C. Singer, Chief Legal Officer and Secretary of Procore Technologies, Inc., executed a transaction on May 20, 2026.
- The transaction involved the withholding of 5,849 shares of common stock by the issuer.
- The shares were withheld at a price of $47.37 per share to satisfy tax obligations related to the vesting of restricted stock units.
- Following this transaction, the reporting person maintains beneficial ownership of 100,665 shares of common stock.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event, as the transaction is a mandatory administrative action related to tax obligations rather than a discretionary market sale.
Positives
- The transaction reflects the vesting of equity compensation, indicating ongoing alignment between executive interests and shareholder value.
Negatives
- The transaction represents a reduction in the reporting person's direct share count, though it is specifically for tax settlement purposes.
Risks
- No specific operational or financial risks are disclosed in this ownership filing.
Future Outlook
Not applicable as this is a routine insider transaction filing.
Industry Context
StockSavvy.ai notes that routine tax-related share withholding by executives is a standard corporate practice and does not typically signal a change in management sentiment regarding the company's long-term prospects.
Comparison to Industry Standards
- The transaction follows standard SEC reporting requirements for executive equity compensation.
- The use of 'sell-to-cover' or share withholding for tax obligations is a common practice among publicly traded technology firms.
Stakeholder Impact
- Minimal impact on shareholders as the transaction is a routine tax settlement for an executive.
Next Steps
- No future actions or milestones were disclosed in this filing.
Key Dates
| Date | Description |
|---|---|
| 05/15/2026 | Date of purchase of 309 shares through the employee stock purchase plan. |
| 05/20/2026 | Date of the reported transaction involving the withholding of 5,849 shares. |
| 05/22/2025 | Date of signature on the filing. |
Keywords
Procore Technologies, PCOR, Insider Trading, Form 4, Equity Compensation, Tax Withholding
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.