Form 4: Procore Technologies' Chief Legal Officer Sells Shares to Cover Tax Obligations
SEC Form 4
Benjamin C. Singer, Chief Legal Officer and Secretary of Procore Technologies, sold shares to cover tax obligations and also executed a sale under a pre-arranged 10b5-1 plan.
Summary
- On May 20, 2025, Benjamin C. Singer, the Chief Legal Officer and Secretary of Procore Technologies, had 5,596 shares withheld by the issuer to cover tax obligations upon the vesting of restricted stock units.
- On May 21, 2025, Singer sold 4,203 shares of common stock at a weighted average price of $68.91, with prices ranging from $68.53 to $69.14.
- These sales were executed under a pre-arranged 10b5-1 plan dated August 15, 2024.
- Following these transactions, Singer directly owns 102,057 shares of Procore Technologies.
- This includes 215 shares purchased through the Issuer's employee stock purchase plan on May 15, 2025.
Sentiment
Score: 5
Explanation: The document simply reports transactions; it's neutral in sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies. Sales under 10b5-1 plans are often pre-arranged to avoid accusations of insider trading.
Key Dates
| Date | Description |
|---|---|
| August 15, 2024 | Date of the 10b5-1 plan. |
| May 15, 2025 | Date of purchase of 215 shares through the employee stock purchase plan. |
| May 20, 2025 | Date of shares withheld for tax obligations. |
| May 21, 2025 | Date of stock sale under 10b5-1 plan. |
| May 22, 2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Procore Technologies, PCOR, Benjamin C. Singer, Chief Legal Officer, Stock Sale, 10b5-1 Plan, Tax Obligations, Employee Stock Purchase Plan
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