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 liabilities from RSU vesting.

Summary

• Lawrence Joseph Stack, Chief Revenue Officer of Procore Technologies, Inc. (PCOR), reported a change in beneficial ownership.
• On November 20, 2025, 7,080 shares of common stock were disposed of at a price of $71.74 per share.
• This transaction was identified by transaction code 'F', indicating shares were withheld by the issuer to satisfy a tax obligation.
• The tax obligation arose from the vesting of restricted stock units (RSUs) held by Mr. Stack.
• Following this transaction, Mr. Stack beneficially owns 194,128 shares of Procore Technologies common stock.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary event related to executive compensation and tax obligations, thus having a neutral sentiment impact on the company's outlook.

Future Outlook

NA

Industry Context

This type of insider transaction, specifically a tax withholding related to RSU vesting, is a common and routine event for executives in publicly traded companies across all industries. It does not typically reflect a discretionary investment decision by the insider but rather a mandatory tax obligation fulfillment.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction related to executive compensation and tax obligations, not a discretionary sale indicating a change in management's confidence.

Key Dates

Recommendation

The reported transaction is a non-discretionary sale of shares by the Chief Revenue Officer to satisfy tax obligations upon the vesting of restricted stock units. This is a common and expected event for executives and does not reflect a change in management's outlook or a discretionary decision to reduce ownership beyond tax requirements. Therefore, it has no material impact on the company's fundamentals or investment thesis, warranting a 'hold' recommendation.

Keywords

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