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

Joy Driscoll Durling, Chief Data Officer of Procore Technologies, sold 5,942 shares of common stock on May 22, 2024, to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On May 22, 2024, Joy Driscoll Durling, the Chief Data Officer of Procore Technologies, sold 5,942 shares of common stock.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units.
• The shares were sold at a weighted average price of $70.17, with individual prices ranging from $69.67 to $70.67.
• Following the transaction, Durling directly owns 116,157 shares of Procore Technologies.
• This total includes 427 shares purchased through the Issuer's employee stock purchase plan on May 15, 2024.

Sentiment

Score: 6

Explanation: The filing reflects a routine transaction (sell to cover taxes) and doesn't suggest any significant positive or negative sentiment regarding the company's prospects.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives and do not necessarily indicate a negative outlook on the company's future.

Stakeholder Impact

• The sale of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to have a significant long-term effect.

Key Dates