Form 4: Procore Director Sells Shares Under 10b5-1 Plan

Procore Technologies Director Kevin J. O'Connor sold 15,384 shares of common stock in multiple transactions under a pre-arranged 10b5-1 plan.

Summary

• Kevin J. O'Connor, a Director of Procore Technologies, Inc. (PCOR), reported the sale of 15,384 shares of common stock.
• The sales occurred on March 10, 2026, and March 11, 2026.
• All transactions were executed pursuant to a Rule 10b5-1 trading plan established on November 21, 2024.
• On March 10, 2026, 7,528 shares were sold at a weighted average price of $57.23, with prices ranging from $56.84 to $57.83.
• Also on March 10, 2026, an additional 164 shares were sold at a weighted average price of $58.03, with prices ranging from $57.85 to $58.295.
• On March 11, 2026, 7,692 shares were sold at a weighted average price of $57.48, with prices ranging from $57.05 to $57.75.
• Following these transactions, Kevin J. O'Connor beneficially owns 996,752 shares of common stock indirectly through the Kevin J. O'Connor Revocable Trust U/A DTD 06-13-19.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While it involves insider selling, the execution under a pre-arranged 10b5-1 plan mitigates any negative sentiment, as it is a routine personal financial management activity rather than a signal of changing company fundamentals.

Positives

• The sales were conducted under a pre-arranged 10b5-1 trading plan, indicating a scheduled disposition rather than a reaction to new, non-public information, which enhances transparency.

Negatives

• Insider selling, even if planned, can sometimes be perceived by the market as a lack of confidence, although this is often mitigated by the existence of a 10b5-1 plan.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

StockSavvy.ai notes that insider sales executed under Rule 10b5-1 plans are a common practice among corporate executives and directors. These plans allow insiders to sell a predetermined number of shares at a predetermined time or price, providing an affirmative defense against insider trading allegations and facilitating personal financial planning and diversification without implying a change in the company's fundamental prospects.

Related Party Transactions

• The shares beneficially owned following the transactions are held indirectly by the Kevin J. O'Connor Revocable Trust U/A DTD 06-13-19, which is a related entity to the reporting person.

Stakeholder Impact

• Shareholders may note the director's sale, but the pre-scheduled nature under a 10b5-1 plan typically reduces concerns about management's confidence in the company's future.

Key Dates

Recommendation

A Form 4 filing detailing a pre-scheduled insider sale under a 10b5-1 plan does not provide sufficient new information to warrant a change in investment recommendation. It represents a routine personal financial management activity by a director and does not reflect a change in the company's operational or financial outlook.

Keywords

Procore Technologies, PCOR, Insider Sale, Form 4, 10b5-1 Plan, Director Stock Sale, Equity Transaction