Form 4: Procore Technologies CFO Howard Fu Reports Stock Sale and Tax Obligation Fulfillment

CFO and Treasurer of Procore Technologies, Howard Fu, reports the sale of 8,000 shares of common stock and the withholding of shares to cover a tax obligation.

Summary

• Howard Fu, CFO and Treasurer of Procore Technologies, reported a transaction involving the company's common stock.
• On February 19, 2025, Fu sold 8,000 shares of common stock at a price of $87 per share.
• On February 20, 2025, 6,196 shares were withheld by Procore Technologies to satisfy a tax obligation related to the vesting of restricted stock units at a price of $86.48.
• Following these transactions, Fu directly owns 149,992 shares of Procore Technologies common stock.
• Fu has granted power of attorney to Benjamin Singer, Travis Shrout, and Ting Wang to handle SEC filings on his behalf.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions without expressing any positive or negative outlook.

Industry Context

This filing is a routine disclosure related to insider trading and is a common occurrence for publicly traded companies. It provides transparency into the transactions of company executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in insider trading activities.
• The transactions reported are typical for executives who receive stock-based compensation and periodically sell shares for personal financial management or to cover tax obligations.
• Comparable companies like Autodesk, Oracle, and Salesforce also have similar insider trading disclosures.

Stakeholder Impact

• The stock sale by the CFO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the relatively small number of shares sold.
• The tax obligation fulfillment does not directly impact stakeholders.

Key Dates

Keywords

Form 4, Procore Technologies, Howard Fu, Stock Sale, Tax Obligation, SEC Filing, Power of Attorney, PCOR