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 in May 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 on May 21, 22, and 23, 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 ranged from $70.09 to $70.51 on May 21, $69.94 to $70.63 on May 22, and $69.25 to $69.62 on May 23.
• Following these transactions, O'Connor directly owns 10,696 shares and indirectly owns 1,478,927 shares through the Kevin J. O'Connor Revocable Trust U/A DTD 06-13-19.

Sentiment

Score: 5

Explanation: The document simply reports stock sales by a director under a pre-existing plan, which is neutral in sentiment.

Industry Context

Sales by company insiders are a common occurrence and are often pre-planned to avoid accusations of insider trading. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices.

Stakeholder Impact

• The stock sales may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.

Key Dates