Form 4: Procore Technologies SVP, Corporate Controller, William Fred Fleming Jr., Reports Stock Transactions

William Fred Fleming Jr., SVP, Corporate Controller at Procore Technologies, reports the acquisition and disposal of common stock and derivative securities.

Summary

• On February 29, 2024, William Fred Fleming Jr., SVP, Corporate Controller at Procore Technologies, engaged in transactions involving the company's stock.
• Fleming exercised stock options to acquire 1,753 shares of common stock at a price of $12.22 per share.
• Concurrently, Fleming disposed of 1,753 shares at $77.25 and 3,247 shares at a weighted average price of $77.25, with individual sales ranging from $77.25 to $77.28.
• Following these transactions, Fleming directly owns 74,521 shares of common stock and holds options for 45,310 shares.
• The stock options were granted with a price of $12.22, vesting monthly after June 4, 2019, and expiring on June 17, 2028.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing insider transactions, which doesn't inherently convey positive or negative sentiment. The transactions themselves could be interpreted in various ways, but the filing itself is neutral.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders, providing transparency into their transactions in company stock. These filings are closely watched by investors seeking insights into management's perspective on the company's value and future prospects.

Comparison to Industry Standards

• Insider transactions are common across publicly traded companies, and the specifics of these transactions (exercise of options, sales for diversification, etc.) are company and individual-specific.
• Comparing the size and frequency of insider transactions at Procore to similar SaaS companies like Atlassian (TEAM) or Autodesk (ADSK) would provide a broader context, but requires analysis of their respective filings.

Stakeholder Impact

• The transactions may be of interest to shareholders as they provide insight into the actions of a key company officer.
• The filing ensures transparency and compliance with SEC regulations.

Key Dates