Form 4: Procore Controller Exercises Stock Options

Procore Technologies' SVP, Corporate Controller, William Fred Fleming Jr., exercised 7,250 stock options at $12.22 per share.

Summary

• William Fred Fleming Jr., SVP, Corporate Controller of Procore Technologies, Inc. (PCOR), exercised stock options on December 22, 2025.
• The transaction involved the acquisition of 7,250 shares of Common Stock at an exercise price of $12.22 per share.
• Following this transaction, Mr. Fleming directly beneficially owns 68,556 shares of Common Stock.
• Concurrently, 7,250 derivative securities (stock options) were disposed of, reducing his derivative holdings to 20,170.
• The exercised options had an exercise price of $12.22 and an expiration date of June 17, 2028.
• The vesting schedule for these options included 1/4th vesting on June 4, 2019, with 1/48th vesting monthly thereafter, contingent on continued service.

Sentiment

Score: 6

Explanation: The exercise of stock options by a senior executive is a routine compensation event. While it indicates the executive is realizing value from their compensation, it does not inherently signal strong positive or negative news about the company's operational performance or future prospects.

Positives

• The exercise of stock options by a senior executive can indicate confidence in the company's long-term value, as it often involves holding the acquired shares.
• The exercise price of $12.22 is significantly lower than Procore's implied current trading price (as options are typically exercised when in-the-money), representing a gain for the executive.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Minor, as option exercises are a standard part of executive compensation and typically factored into outstanding share counts.

Key Dates

Recommendation

This Form 4 filing details a routine exercise of stock options by a corporate officer, William Fred Fleming Jr., who is the SVP, Corporate Controller. Such transactions are a common component of executive compensation and do not typically reflect new fundamental information about the company's operational performance, strategic direction, or financial health. The exercise price of $12.22 per share indicates the options were in-the-money, allowing the executive to realize value from their compensation. However, without additional context on the executive's subsequent actions (e.g., selling the acquired shares) or broader company news, this filing alone does not provide sufficient grounds to alter an existing investment thesis. Therefore, a 'hold' recommendation is appropriate, as this event is neutral in its implications for the company's stock price.

Keywords

Procore Technologies, PCOR, Form 4, Insider Transaction, Stock Options, Executive Compensation, William Fred Fleming Jr.