Form 4: William Griffith Receives Procore RSU Grant

Director William J.G. Griffith was granted 4,712 restricted stock units in Procore Technologies, Inc.

Summary

• Director William J.G. Griffith received a grant of 4,712 restricted stock units (RSUs) on June 4, 2026.
• The RSUs are scheduled to vest in full on the date of the 2027 annual meeting of stockholders.
• The reporting person has elected to defer receipt of the underlying common stock until termination of service or a change in control.
• The reporting person maintains significant indirect beneficial ownership through various ICONIQ Strategic Partners investment vehicles.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation with no material impact on company operations or financial outlook.

Positives

• Alignment of director interests with long-term shareholder value through equity-based compensation.

Negatives

• None identified.

Risks

• Vesting is subject to the reporting person's continued service through the 2027 annual meeting date.

Future Outlook

The RSUs vest on the date of the 2027 annual meeting of stockholders, contingent upon continued service.

Industry Context

StockSavvy.ai notes that this filing represents standard director compensation practices within the software and construction technology sector, reflecting typical equity retention strategies for board members.

Comparison to Industry Standards

• The grant of RSUs to non-employee directors is a standard corporate governance practice among S&P 500 and mid-cap technology firms to ensure board alignment with shareholder interests.
• The deferral election is a common tax and estate planning strategy utilized by high-net-worth directors.

Corporate Governance

Related Party Transactions

• The reporting person is a General Partner and Managing Director at ICONIQ Capital, which manages the various investment funds listed as beneficial owners.

Stakeholder Impact

• Minimal impact on shareholders as this is a standard equity grant to a board member.

Next Steps

• Vesting of RSUs at the 2027 annual meeting of stockholders.

Key Dates

Keywords

Procore Technologies, PCOR, Form 4, Insider Transaction, William Griffith, ICONIQ Capital, Equity Compensation