Form 4: Procore Exec Sells Shares for Tax Obligation

Procore Technologies' President of Product & Technology, Steven Scott Davis, disposed of 6,946 shares of common stock to cover tax liabilities from restricted stock unit vesting.

Summary

• Steven Scott Davis, President Product & Technology at Procore Technologies, Inc. (PCOR), reported a disposition of common stock.
• On February 20, 2026, 6,946 shares were disposed of at a price of $52.02 per share.
• This transaction was conducted to satisfy tax obligations incurred upon the vesting of restricted stock units.
• Following this transaction, Steven Scott Davis beneficially owns 189,568 shares of Procore Technologies common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. It is a routine transaction for tax purposes related to equity compensation and does not reflect a discretionary sale or a change in the executive's investment thesis in the company.

Positives

• The transaction is a routine event related to the vesting of restricted stock units, indicating previously granted equity compensation is maturing.

Negatives

• No direct negative implications from this routine tax-related disposition.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

StockSavvy.ai notes that routine insider transactions, such as dispositions for tax withholding upon RSU vesting, are common across all publicly traded companies, particularly in the technology sector where equity compensation is a significant component of executive pay. This transaction is typical for an executive receiving equity awards.

Comparison to Industry Standards

• This type of transaction, where shares are withheld to cover tax obligations upon RSU vesting, is a standard practice across industries and is not indicative of any unique company-specific or industry-specific deviation. Companies like Adobe, Salesforce, and Microsoft frequently report similar Form 4 filings for their executives.

Management Changes

Corporate Governance

Legal Proceedings

• No legal or regulatory matters are mentioned in this filing.

Related Party Transactions

• This filing reports a direct transaction by an officer to satisfy tax obligations, which is not typically classified as a related party transaction in the context of unusual dealings.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes. It does not signal a change in management's confidence or a significant shift in ownership structure.
• Employees: No direct impact.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Next Steps

• No specific future actions, events, or milestones are mentioned in this Form 4 filing.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary sale of shares by an executive to cover tax obligations upon the vesting of restricted stock units. Such transactions are common and do not typically reflect a change in the executive's outlook on the company's prospects or a strategic move. Therefore, it provides no new information that would warrant a change in an investor's current position, leading to a 'hold' recommendation based solely on this filing.

Keywords

Procore Technologies, PCOR, Steven Scott Davis, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Restricted Stock Units, Equity Compensation