Form 4: Procore Executive Reports Tax-Related Stock Withholding

Steven Scott Davis, President of Product & Technology at Procore Technologies, Inc., reported the withholding of 13,267 shares to cover tax obligations.

Summary

• Steven Scott Davis, President of Product & Technology at Procore Technologies, Inc. (PCOR), executed a transaction on May 20, 2026.
• The transaction involved the withholding of 13,267 shares of common stock by the issuer.
• The shares were withheld at a price of $47.37 per share.
• The purpose of the transaction was to satisfy tax withholding obligations related to the vesting of restricted stock units.
• Following this transaction, the reporting person maintains direct beneficial ownership of 290,549 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it represents a routine tax-related transaction rather than a change in executive sentiment or company performance.

Positives

• The transaction was a routine administrative action to satisfy tax obligations rather than a discretionary market sale.
• The reporting person retains a significant equity stake of 290,549 shares in the company.

Negatives

• The transaction resulted in a reduction of the reporting person's direct share ownership.

Risks

• None identified; this is a standard tax-withholding event.

Future Outlook

No forward-looking guidance or strategic outlook provided in this filing.

Industry Context

StockSavvy.ai notes that this filing is a standard regulatory disclosure for executive compensation and does not reflect a change in the company's operational strategy or market outlook.

Comparison to Industry Standards

• The transaction follows standard corporate governance practices for equity-based compensation tax settlement.
• The reporting person's remaining ownership level is consistent with typical executive retention structures in the SaaS industry.

Stakeholder Impact

• Minimal impact on shareholders as the transaction is a standard tax settlement mechanism.

Key Dates

Keywords

Procore Technologies, PCOR, Insider Trading, Form 4, Tax Withholding, Equity Compensation