Form 4: Procore Technologies Executive Steven Scott Davis Sells 57,666 Shares

Steven Scott Davis, President of Product & Technology at Procore Technologies, sold 57,666 shares of common stock at an average price of $79.11 on March 13, 2024.

Summary

• On March 13, 2024, Steven Scott Davis, the President of Product & Technology at Procore Technologies, sold 57,666 shares of the company's common stock.
• The shares were sold at a weighted average price of $79.11, with individual prices ranging from $78.58 to $79.46.
• Following the transaction, Davis directly owns 167,989 shares of Procore Technologies.
• The sale was reported on a Form 4 filing with the Securities and Exchange Commission (SEC) on March 15, 2024.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a stock sale by an executive. It doesn't inherently convey positive or negative sentiment, but the market may react based on their interpretation of the sale.

Industry Context

Executive stock sales are a common occurrence in publicly traded companies. They can be for various reasons, including diversification, tax planning, or personal expenses. It's important to consider the context of the sale, such as the size of the sale relative to the executive's holdings and the company's overall performance.

Comparison to Industry Standards

• Executive compensation and stock ownership structures vary widely across the software industry.
• Comparing Davis's stock sales to those of executives at similar companies like Autodesk (ADSK), Oracle (ORCL), or Salesforce (CRM) would provide a better understanding of whether this transaction is typical.
• Analyzing the percentage of Davis's total holdings that were sold can also provide context.

Stakeholder Impact

• The stock sale could have a minor impact on shareholder sentiment, depending on how the market interprets the transaction.
• The sale does not directly impact employees, customers, suppliers, or creditors.

Key Dates