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

Kevin J. O'Connor, a director at Procore Technologies, sold shares of the company's common stock between April 2 and April 4, 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 between April 2 and April 4, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan established on November 27, 2023.
• On April 2, 2024, O'Connor sold 3,464 shares at a weighted average price of $76.65, with prices ranging from $76.18 to $77.10.
• An additional 2,946 shares were sold on April 2, 2024, at a weighted average price of $77.69, with prices ranging from $77.29 to $77.97.
• On April 3, 2024, O'Connor sold 6,410 shares at a weighted average price of $78.09, with prices ranging from $77.81 to $78.49.
• Finally, on April 4, 2024, O'Connor sold 6,410 shares at a weighted average price of $79.20, with prices ranging from $78.97 to $79.87.
• Following these transactions, O'Connor directly owns 10,696 shares and indirectly owns 1,494,311 shares through the Kevin J. O'Connor Revocable Trust U/A DTD 06-13-19.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports insider selling under a pre-arranged plan, which is a common and legal practice.

Industry Context

Sales by insiders are a common occurrence, and the use of 10b5-1 plans allows insiders to sell shares over a period of time without being accused of trading on non-public information. The market typically views these sales in the context of the overall health and prospects of the company.

Stakeholder Impact

• The sales could create short-term downward pressure on the stock price, but the long-term impact is likely to be minimal given the pre-planned nature of the transactions.

Key Dates