Form 4: Procore CRO Sells Shares for Tax Obligation

Procore Technologies' Chief Revenue Officer, Lawrence Joseph Stack, disposed of 7,080 shares of common stock to cover tax obligations related to restricted stock unit vesting.

Summary

• Lawrence Joseph Stack, Chief Revenue Officer of Procore Technologies, Inc. (PCOR), reported a disposition of common stock.
• The transaction involved 7,080 shares of common stock, which were withheld by the Issuer to satisfy a tax obligation.
• This tax obligation arose from the vesting of restricted stock units (RSUs) held by Mr. Stack.
• The shares were disposed of at a price of $65.34 per share.
• Following this transaction, Mr. Stack beneficially owns 201,208 shares of Procore Technologies common stock directly.
• The transaction date for this disposition was August 20, 2025.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary transaction (tax withholding upon RSU vesting) which is neutral in sentiment. It does not indicate any change in the company's operational or financial performance, nor does it reflect a discretionary decision by the insider to sell or buy shares.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction for tax purposes and does not signal a change in management's confidence or company fundamentals.
• Employees: No direct impact on the broader employee base.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary disposition of shares by an executive to cover tax obligations arising from RSU vesting. Such transactions are common and do not typically reflect a change in the executive's outlook on the company or its future prospects. Therefore, this filing provides no new material information that would warrant a change in an existing investment thesis for Procore Technologies. A 'hold' recommendation is appropriate as there's no fundamental catalyst or concern presented by this specific report.

Keywords

Procore Technologies, PCOR, Insider Transaction, Form 4, Stock Disposition, Tax Withholding, Restricted Stock Units, Lawrence Joseph Stack, Chief Revenue Officer