Form 4: Procore Technologies Executive Sells Shares to Cover Tax Obligations

A Procore Technologies executive sold 2,668 shares to cover tax obligations related to vesting restricted stock units.

Summary

• William Fred Fleming Jr., SVP, Corporate Controller at Procore Technologies, sold 2,668 shares of common stock on November 21, 2024.
• The sale was executed to cover tax withholding obligations associated with the vesting of restricted stock units.
• The shares were sold at a weighted average price of $71.36, with individual prices ranging from $70.87 to $71.86.
• Following the transaction, Fleming beneficially owns 72,605 shares of Procore Technologies stock.
• This includes 153 shares purchased through the company's employee stock purchase plan on November 15, 2024.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and does not indicate any positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive equity compensation. It is common for executives to sell shares to cover tax obligations when restricted stock units vest.

Comparison to Industry Standards

• Many technology companies use restricted stock units as part of their compensation packages.
• It is standard practice for executives to sell a portion of their vested shares to cover tax liabilities.
• The sale of shares by executives is a common occurrence and is usually disclosed through SEC filings.

Stakeholder Impact

• The sale of shares by an executive may have a minor impact on the stock price, but it is generally considered a normal part of executive compensation.

Key Dates

Keywords

insider trading, stock sale, tax obligations, restricted stock units, equity compensation, Procore Technologies, PCOR