Form 4: Procore Technologies SVP Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
William Fred Fleming Jr., SVP and Corporate Controller of Procore Technologies, sold 2,707 shares of common stock to cover tax withholding obligations related to vesting restricted stock units.
Summary
- On August 22, 2024, William Fred Fleming Jr., SVP and Corporate Controller of Procore Technologies, sold 2,707 shares of Procore Technologies (PCOR) common stock.
- 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 $59.14, with individual prices ranging from $58.65 to $59.64.
- Following the transaction, Fleming directly owns 79,156 shares of Procore Technologies.
- The sale was mandated by Procore's equity incentive plans, which require tax withholding obligations to be funded through a 'sell to cover' transaction.
Sentiment
Score: 5
Explanation: Neutral sentiment as the transaction is a routine sale to cover tax obligations and doesn't reflect a change in the insider's outlook on the company.
Industry Context
This is a routine Form 4 filing, which is common for corporate insiders who sell shares to cover tax obligations related to equity compensation. It doesn't necessarily indicate a change in the insider's view of the company's prospects.
Key Dates
| Date | Description |
|---|---|
| 08/22/2024 | Date of transaction: Sale of 2,707 shares of common stock. |
| 08/26/2024 | Date of signature on the Form 4 filing. |
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