Form 4: Procore Technologies Director Elisa Steele Reports Stock Transactions

Director Elisa Steele reported the acquisition of 2,887 shares of common stock and the sale of 1,787 shares of common stock of Procore Technologies.

Summary

• On June 6, 2024, Elisa Steele, a director of Procore Technologies, acquired 2,887 shares of common stock.
• These shares were obtained through the settlement of restricted stock units (RSUs).
• 100% of the RSUs vest on the date of the issuer's 2025 annual meeting of stockholders, subject to continued service.
• Steele has deferred the receipt of common stock upon vesting until the earlier of 90 days following termination of service or a change in control.
• On June 10, 2024, Steele sold 1,787 shares of common stock at a price of $65.68 per share.
• The sale was executed pursuant to a 10b5-1 plan dated September 14, 2023.
• Following these transactions, Steele directly owns 56,110 shares of Procore Technologies common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it simply reports stock transactions by a company director, which is a routine activity. There is no indication of positive or negative implications for the company's performance.

Future Outlook

The reporting person has elected to defer the receipt of common stock upon the vesting of the RSUs until the earlier of (i) the date that is ninety (90) days following the date of termination of service, and (ii) the date of a change in control.

Industry Context

Form 4 filings are standard disclosures required by the SEC when corporate insiders, like directors and officers, trade their company's stock. These filings provide transparency to the market regarding the trading activities of those with privileged information.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership by a director, but the impact is likely minimal given the relatively small number of shares involved.

Key Dates