Form 4: Procore Technologies Director Kevin J. O'Connor Sells Shares Under 10b5-1 Plan
SEC Form 4
Kevin J. O'Connor, a director at Procore Technologies, sold shares of common stock over three days in July 2024 under a pre-arranged 10b5-1 trading plan.
Summary
- Kevin J. O'Connor, a director of Procore Technologies, sold shares of the company's common stock on July 22, 23, and 24, 2024.
- The sales were executed under a 10b5-1 trading plan established on November 27, 2023.
- On each of the three days, 5,128 shares were sold.
- The prices ranged from $68.35 to $69.01 on July 22, $70.20 to $70.66 on July 23, and $69.34 to $69.68 on July 24.
- Following these transactions, O'Connor indirectly owns 1,448,159 shares through the Kevin J. O'Connor Revocable Trust.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, reporting insider sales under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Insider sales are a common occurrence, and sales under a 10b5-1 plan are generally viewed as less impactful since they are pre-scheduled. However, large or frequent sales can sometimes be viewed negatively by the market.
Stakeholder Impact
- The sale of shares by a director could have a minor negative impact on shareholder sentiment, although the existence of a 10b5-1 plan mitigates this.
Key Dates
| Date | Description |
|---|---|
| 2019-06-13 | Date of the Kevin J. O'Connor Revocable Trust U/A DTD |
| 2023-11-27 | Date of the 10b5-1 plan |
| 2024-07-22 | Date of first reported transaction |
| 2024-07-23 | Date of second reported transaction |
| 2024-07-24 | Date of third reported transaction and filing date |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.