Form 4: Procore Technologies Chief Data Officer Sells Shares to Cover Tax Obligations

Joy Driscoll Durling, Chief Data Officer of Procore Technologies, sold 6,076 shares of common stock on August 22, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On August 22, 2024, Joy Driscoll Durling, the Chief Data Officer of Procore Technologies, sold 6,076 shares of the company's common stock.
• The sale was executed at a weighted average price of $59.14 per share, with individual prices ranging from $58.65 to $59.64.
• The total number of shares beneficially owned following the transaction is 104,381.
• The sale was mandated by Procore Technologies to cover tax withholding obligations associated with the vesting of restricted stock units and does not represent a discretionary trade by the reporting person.

Sentiment

Score: 5

Explanation: This is a neutral event. The sale is related to tax obligations and doesn't necessarily reflect a change in the executive's confidence in the company.

Industry Context

Form 4 filings are a routine part of the US stock market, providing transparency into the transactions of company insiders. This particular filing indicates a sale of shares to cover tax obligations, which is a common practice.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates