Form 4: Procore Technologies Director Kevin J. O'Connor Reports Changes in Beneficial Ownership

Director Kevin J. O'Connor reports acquisition of restricted stock units and indirect ownership of common stock in Procore Technologies.

Summary

• Kevin J. O'Connor, a director of Procore Technologies, reported changes in beneficial ownership of the company's stock.
• On June 6, 2024, O'Connor acquired 2,887 shares of common stock issuable upon the settlement of restricted stock units (RSUs).
• These RSUs vest on the date of the issuer's 2025 annual meeting of stockholders, contingent upon continued service as a director.
• O'Connor has deferred the receipt of common stock upon vesting of the RSUs until the earlier of 90 days following termination of service or a change in control.
• O'Connor also indirectly owns 1,478,927 shares of common stock through the Kevin J. O'Connor Revocable Trust U/A DTD 06-13-19.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

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 a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.

Key Dates