Form 4: Procore Technologies Executive Sells Shares Under 10b5-1 Plan

Steven Scott Davis, President of Product & Technology at Procore Technologies, sold 2,174 shares of common stock at an average price of $65.77 on June 14, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On June 14, 2024, Steven Scott Davis, the President of Product & Technology at Procore Technologies, sold 2,174 shares of the company's common stock.
• The sale was executed at a weighted average price of $65.77 per share, with individual prices ranging from $65.06 to $65.87.
• The transaction was conducted under a pre-arranged 10b5-1 trading plan established on March 15, 2024.
• Following the transaction, Davis directly owns 217,478 shares of Procore Technologies' common stock.

Sentiment

Score: 5

Explanation: The document simply reports a stock sale by an executive under a pre-existing plan, which is a neutral event.

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 company executives to sell shares at predetermined times and prices.

Stakeholder Impact

• The sale of shares by an executive could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates