Form 4: Procore Director Graham Smith Granted Restricted Stock Units, Aligning Interests with Long-Term Growth

Procore Technologies, Inc. Director Graham Smith was granted 3,049 restricted stock units (RSUs) as part of his compensation, aligning his interests with the company's future performance.

Summary

• Graham Smith, a Director of Procore Technologies, Inc. (PCOR), acquired 3,049 shares of common stock through the grant of Restricted Stock Units (RSUs) on June 5, 2025.
• The RSUs were granted at a price of $0, indicating they are part of a compensation package.
• Following this transaction, Graham Smith beneficially owns a total of 49,669 shares of Procore Technologies, Inc. common stock.
• The RSUs are scheduled to vest 100% on the date of the issuer's 2026 annual meeting of stockholders, contingent on Mr. Smith's continued service as a director.
• Mr. Smith has elected to defer the receipt of the common stock upon vesting until the earlier of 90 days following termination of service or a change in control.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the RSU grant aligns the director's interests with the company's long-term performance and is a routine compensation event, indicating stability and continued commitment.

Positives

• The grant of Restricted Stock Units (RSUs) to Director Graham Smith aligns his financial interests directly with the long-term performance and shareholder value creation of Procore Technologies, Inc.
• The continued service condition for vesting encourages stability and commitment from a key board member.

Future Outlook

The future outlook related to this filing primarily concerns the vesting of the granted RSUs, which is contingent upon Director Graham Smith's continued service through the company's 2026 annual meeting of stockholders.

Industry Context

This Form 4 filing represents a routine insider transaction, specifically the grant of equity compensation to a director, which is a common practice across various industries to incentivize long-term commitment and align management/board interests with shareholder value.

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's interests with long-term shareholder value creation, as the value of the compensation is tied to the company's stock performance.
• Employees: While not directly impacting general employees, such compensation practices for leadership can signal stability and a commitment to long-term growth, which indirectly benefits the broader employee base.

Next Steps

• The 3,049 Restricted Stock Units (RSUs) are expected to vest on the date of Procore Technologies, Inc.'s 2026 annual meeting of stockholders, subject to Graham Smith's continued service.

Key Dates

Keywords

Procore Technologies, PCOR, Restricted Stock Units, RSU, Insider Transaction, Director Compensation, Stock Ownership, Form 4, Corporate Governance