Form 4: Procore Technologies Executive Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Steven Scott Davis, President of Product & Technology at Procore Technologies, sold 9,671 shares of common stock at $65 per share on October 31, 2024, under a pre-arranged 10b5-1 trading plan.
Summary
- On October 31, 2024, Steven Scott Davis, the President of Product & Technology at Procore Technologies, sold 9,671 shares of the company's common stock.
- The sale was executed at a price of $65 per share.
- Following the transaction, Davis directly owns 192,137 shares of Procore Technologies.
- The sale was conducted under a pre-arranged 10b5-1 trading plan established on March 15, 2024.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale under a pre-arranged plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Insider sales are a common occurrence in publicly traded companies. The use of a 10b5-1 plan allows insiders to sell shares in a predetermined manner, avoiding concerns about trading on non-public information.
Stakeholder Impact
- The stock sale may have a minor impact on shareholders, potentially creating slight downward pressure on the stock price in the short term.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of the 10b5-1 plan |
| 10/31/2024 | Date of the stock sale transaction |
| 11/01/2024 | Date of the Form 4 filing |
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