Form 4: Procore Technologies Director Kevin J. O'Connor Sells Shares Under 10b5-1 Plan

Director Kevin J. O'Connor of Procore Technologies sold a total of 45,252 shares of common stock between December 10th and December 12th, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• Kevin J. O'Connor, a director at Procore Technologies, sold shares of the company's common stock.
• The sales occurred over several days, from December 10th to December 12th, 2024.
• The transactions were executed under a pre-arranged 10b5-1 trading plan established on November 27, 2023.
• A total of 45,252 shares were sold across multiple transactions.
• The sales were conducted at varying prices, with weighted average prices reported for each day.
• The shares were sold at prices ranging from $80.47 to $82.60.
• Following these transactions, Mr. O'Connor still indirectly holds 1,269,828 shares through the Kevin J. O'Connor Revocable Trust.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of insider trading under a pre-arranged plan, which is neither positive nor negative in itself. It's a neutral event.

Risks

• Sales by insiders, even under pre-arranged plans, can sometimes be perceived negatively by the market.

Industry Context

Insider sales are a common occurrence in publicly traded companies, and the use of 10b5-1 plans is a standard practice to avoid accusations of trading on non-public information. This filing is a routine disclosure of such activity.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a common practice among corporate insiders to manage their stock sales in a compliant manner.
• The reported sales are consistent with typical insider trading activity, where directors and officers may sell shares for personal financial planning purposes.
• Similar filings are regularly made by insiders at other technology companies such as Autodesk, Oracle, and Salesforce.

Stakeholder Impact

• The sales may have a minor impact on the stock price, but the pre-arranged nature of the sales should mitigate any significant negative reaction.

Key Dates

Keywords

insider trading, Form 4, 10b5-1 plan, stock sale, Procore Technologies, PCOR, Kevin J. O'Connor, director