Form 4: Procore SVP Withholds Shares for Tax Obligation

Procore Technologies' SVP, Corporate Controller, William Fred Fleming Jr., had 2,141 shares withheld to cover tax obligations from restricted stock unit vesting.

Summary

• William Fred Fleming Jr., SVP, Corporate Controller of Procore Technologies, Inc. (PCOR), had 2,141 shares of common stock withheld.
• The shares were withheld by the issuer on August 20, 2025, to satisfy a tax obligation.
• This tax obligation arose from the vesting of restricted stock units.
• The deemed price for the withheld shares was $65.34 per share.
• Following this transaction, Mr. Fleming beneficially owns 82,998 shares of Procore Common Stock.

Sentiment

Score: 5

Explanation: The transaction is a routine tax withholding upon RSU vesting, which is a neutral event. It does not indicate a change in management's confidence or a strategic shift.

Positives

• The reporting person continues to hold a significant number of shares (82,998), indicating ongoing alignment with shareholder interests.
• The transaction is a routine tax withholding, not a discretionary sale, which is generally viewed neutrally or positively compared to open market sales.

Negatives

• A reduction of 2,141 shares from the reporting person's direct beneficial ownership.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Minimal direct impact as it's a routine tax withholding, not a discretionary sale. The executive retains a substantial stake, aligning interests.
• Employees: No direct impact mentioned.

Key Dates

Keywords

Procore Technologies, PCOR, Form 4, Insider Transaction, Stock Withholding, Restricted Stock Units, Executive Compensation, William Fred Fleming Jr.