Form 4: Procore Technologies Director Graham Smith Reports Stock Transactions

Director Graham Smith of Procore Technologies reports acquisition of shares through restricted stock units and sale of shares under a 10b5-1 plan.

Summary

• On June 6, 2024, Graham Smith, a director of Procore Technologies, acquired 2,887 shares of common stock upon the settlement of restricted stock units (RSUs) at a price of $0.
• These RSUs vest fully on the date of the issuer's 2025 annual meeting of stockholders, contingent upon continued service.
• Smith has deferred the receipt of common stock upon RSU vesting until either 90 days after termination of service or a change in control.
• On June 10, 2024, Smith sold 1,787 shares of common stock at a price of $65.68 per share.
• The sale was executed under a pre-arranged 10b5-1 trading plan established on September 7, 2023.
• Following these transactions, Smith beneficially owns 46,620 shares of Procore Technologies common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports transactions without indicating 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 to provide transparency into the transactions of company insiders, allowing investors to monitor the actions of those with privileged information.

Stakeholder Impact

• Shareholders can monitor insider transactions to gain insights into management's perspective on the company's stock.

Key Dates