Form 4: Procore Technologies Director Erin Chapple Receives Equity Grant

Procore Technologies, Inc. Director Erin Chapple was granted 3,049 restricted stock units (RSUs) as part of her compensation, vesting in 2026.

Summary

• Erin Chapple, a Director at Procore Technologies, Inc. (PCOR), acquired 3,049 shares of common stock through a Restricted Stock Unit (RSU) grant.
• The transaction date for this acquisition was June 5, 2025.
• The RSUs were acquired at a price of $0, which is typical for equity compensation grants.
• Following this transaction, Ms. Chapple beneficially owns a total of 14,843 shares of common stock.
• The RSUs are scheduled to vest 100% on the date of the issuer's 2026 annual meeting of stockholders, contingent upon Ms. Chapple's continued service as a director through the vesting date.

Sentiment

Score: 6

Explanation: The document reports a routine equity compensation grant to a director, which is a neutral to slightly positive event as it aligns the director's interests with shareholders. There are no negative financial implications or significant risks disclosed beyond standard vesting conditions.

Positives

• The RSU grant aligns the director's financial interests with those of the shareholders, as the value of the compensation is tied to the company's stock performance.
• Equity compensation is a standard practice for attracting and retaining qualified board members in publicly traded companies.

Negatives

• The vesting of these RSUs will result in a minor dilution of existing shareholder equity, although this is a common aspect of equity compensation plans.

Risks

• The vesting of the 3,049 restricted stock units is subject to Erin Chapple's continued service as a director until the 2026 annual meeting of stockholders.

Future Outlook

The 3,049 Restricted Stock Units granted to Director Erin Chapple are expected to vest fully on the date of Procore Technologies' 2026 annual meeting of stockholders, provided she continues her service as a director.

Industry Context

The granting of Restricted Stock Units (RSUs) to directors is a common form of equity compensation across the technology and broader public company sectors. This practice is designed to incentivize long-term commitment and align the interests of board members with shareholder value creation.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of director compensation is a widely adopted practice among publicly traded companies, particularly within the technology sector, aligning with compensation strategies seen at companies like Autodesk, Inc. (ADSK) or Salesforce, Inc. (CRM) for their non-employee directors.
• The vesting schedule tied to continued service until the next annual meeting is a standard mechanism to ensure ongoing commitment and governance oversight, comparable to similar arrangements at peer software and construction technology firms.

Related Party Transactions

• The grant of 3,049 Restricted Stock Units to Director Erin Chapple constitutes a related party transaction, as it involves compensation from the company to a member of its board of directors.

Stakeholder Impact

• Shareholders: The grant aligns the director's interests with shareholders, but also represents potential future dilution upon vesting.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Next Steps

• The 3,049 Restricted Stock Units are expected to vest on the date of the issuer's 2026 annual meeting of stockholders, subject to the director's continued service.

Key Dates

Keywords

Procore Technologies, PCOR, Form 4, Insider Trading, Restricted Stock Units, RSU, Director Compensation, Equity Grant, Beneficial Ownership