Form 4: Procore Controller Sells Shares for Tax Obligation

Procore Technologies' SVP, Corporate Controller, William Fred Fleming Jr., disposed of 1,643 shares of common stock to cover tax obligations from RSU vesting.

Summary

• William Fred Fleming Jr., SVP, Corporate Controller of Procore Technologies, Inc. (PCOR), reported a transaction on February 20, 2026.
• The transaction involved the disposition of 1,643 shares of Procore Technologies Common Stock.
• The shares were withheld by the Issuer to satisfy a tax obligation incurred by Mr. Fleming upon the vesting of restricted stock units.
• The disposition occurred at a price of $52.02 per share.
• Following this transaction, Mr. Fleming directly beneficially owns 66,913 shares of Common Stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. The transaction is a routine tax-related disposition of shares following RSU vesting and does not indicate any significant positive or negative sentiment regarding the company's performance or future.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that insider transactions, particularly those related to tax withholdings upon RSU vesting, are common and generally do not reflect a change in management's outlook on the company's prospects. This is a routine compliance filing for an executive at a publicly traded software company.

Comparison to Industry Standards

• This type of transaction (shares withheld for tax upon RSU vesting) is a standard practice across publicly traded companies, including those in the software and technology sector like Salesforce, Autodesk, or Oracle, where equity compensation is a significant component of executive pay.
• The volume of shares disposed (1,643) is relatively small for an executive at a company of Procore's size, indicating a routine tax event rather than a significant change in personal investment strategy.

Related Party Transactions

• Disposition of 1,643 shares of common stock by William Fred Fleming Jr., SVP, Corporate Controller, to the issuer (Procore Technologies, Inc.) to satisfy tax obligations upon RSU vesting.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, small-scale insider transaction for tax purposes, not indicative of a change in company fundamentals or executive confidence.
• Employees: No direct impact beyond the reporting person.

Key Dates

Keywords

Procore Technologies, PCOR, Insider Trading, Form 4, Stock Sale, Tax Withholding, Restricted Stock Units, Corporate Controller