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

Director Kevin J. O'Connor of Procore Technologies sold shares of common stock over three days 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 on October 22, 23, and 24, 2024.
• The sales were executed under a pre-arranged 10b5-1 trading plan established on November 27, 2023.
• On each of the three days, 5,128 shares were sold.
• The prices per share varied, with weighted average prices of $62.07 on October 22, $62.45 on October 23, and $62.88 on October 24.
• Following these transactions, O'Connor directly owns 13,583 shares and indirectly owns 1,345,464 shares through the Kevin J. O'Connor Revocable Trust.
• The sales were conducted in the open market.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. It doesn't inherently convey positive or negative sentiment, as the sales are pre-planned.

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 while avoiding concerns about insider trading. It is typical for directors and officers to have these plans in place.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder confidence, but the existence of a 10b5-1 plan mitigates concerns about opportunistic trading.

Key Dates