Form 4: Procore Technologies' Chief Legal Officer Reports Acquisition of Restricted Stock Units

Benjamin C. Singer, Chief Legal Officer and Secretary of Procore Technologies, reports the acquisition of restricted stock units.

Summary

• On March 31, 2025, Benjamin C. Singer, the Chief Legal Officer and Secretary of Procore Technologies, Inc. (PCOR), reported the acquisition of 39,531 shares of common stock upon the settlement of restricted stock units (RSUs).
• These RSUs vest quarterly, with one-sixteenth vesting on each February 20, May 20, August 20, and November 20, starting from the first Company Vesting Date following February 20, 2025, contingent upon continued service.
• Following the reported transaction, Singer directly owns 111,641 shares of Procore Technologies' common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices and increased ownership, which can be seen as a positive sign of confidence.

Positives

• The vesting of RSUs aligns the executive's interests with the long-term performance of the company.
• Increased share ownership by a key executive can signal confidence in the company's future prospects.

Future Outlook

The vesting schedule of the RSUs extends into the future, incentivizing continued service and alignment with company goals.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard equity compensation practices within Procore Technologies.

Comparison to Industry Standards

• Equity compensation, including RSUs, is a common practice among publicly traded technology companies like Procore Technologies to attract, retain, and incentivize key executives.
• Companies such as Autodesk, Oracle, and Salesforce also utilize RSUs as part of their executive compensation packages.
• The vesting schedules and amounts of RSUs can vary based on company size, performance, and industry benchmarks.

Stakeholder Impact

• Shareholders may view the increased ownership by a key executive as a positive signal.
• Employees may see the equity compensation as a sign of the company's commitment to its leadership.

Key Dates

Keywords

Form 4, Procore Technologies, PCOR, Benjamin C. Singer, Restricted Stock Units, RSUs, Beneficial Ownership, Chief Legal Officer, Equity Securities, Vesting