Form 4: Procore Technologies Chief Data Officer Reports Acquisition of Common Stock

Joy Driscoll Durling, Chief Data Officer of Procore Technologies, reports acquiring 22,553 shares of common stock on March 29, 2024, resulting in a total beneficial ownership of 121,672 shares.

Summary

• On March 29, 2024, Joy Driscoll Durling, the Chief Data Officer of Procore Technologies, acquired 22,553 shares of common stock.
• The acquisition was made at a price of $0 per share.
• Following the transaction, Durling's total beneficial ownership of Procore Technologies' common stock is 121,672 shares.
• The shares were acquired through the settlement of restricted stock units (RSUs).
• One-sixteenth of the RSUs vest quarterly on each February 20, May 20, August 20 and November 20, beginning with the first Company Vesting Date following the vesting commencement date of February 20, 2024, subject to continued service.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The acquisition of shares by the Chief Data Officer is a positive sign, but it's not a major event.

Positives

• The acquisition of shares by a high-ranking officer could be seen as a positive signal, indicating confidence in the company's future prospects.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule of the RSUs suggests continued alignment of the executive's interests with the company's performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of previously granted equity compensation.

Comparison to Industry Standards

• Equity compensation is a common practice in the technology industry to attract and retain talent.
• Companies like Atlassian, Autodesk, and Salesforce also utilize RSUs as part of their compensation packages.
• The vesting schedule of Procore's RSUs appears to be fairly standard, with quarterly vesting over a multi-year period.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the executive's interests with the company's performance.

Key Dates