Procore (NYSE: PCOR) director’s trust sells 11,538 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Procore Technologies director Kevin J. O’Connor, through the Kevin J. O’Connor Revocable Trust, sold a total of 11,538 shares of Procore common stock in open‑market transactions on July 1–2, 2026 at weighted average prices around $42 per share. These sales were made pursuant to a pre‑arranged Rule 10b5‑1 trading plan dated March 13, 2026.
Following the most recent sale, the revocable trust held 962,132 shares indirectly, and O’Connor also held 21,344 shares directly. This filing shows a planned net‑sell transaction while he continues to retain a substantial equity stake in Procore Technologies.
Positive
- None.
Negative
- None.
Insights
Director executes modest, pre‑planned sales while keeping a large stake.
Director Kevin J. O’Connor oversaw open‑market sales totaling 11,538 Procore shares via his revocable trust at prices around $42. The filing states these transactions were executed under a Rule 10b5‑1 trading plan dated March 13, 2026, indicating they were pre‑scheduled rather than opportunistic.
After the sales, indirect holdings were 962,132 shares, and direct holdings were 21,344 shares, so he maintains a sizable position. Given the pre‑planned nature and the remaining stake, this looks like routine portfolio management rather than a thesis‑changing move.
Insider Trade Summary 10b5-1
Net Seller: 11,538 shares ($488,902)
Net Sell
4 txns
Insider
O CONNOR KEVIN J
Role
null
Sold
11,538 shs ($489K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 1,697 | $42.40 | $72K |
| Sale | Common Stock | 4,072 | $42.99 | $175K |
| Sale | Common Stock | 5,769 | $41.93 | $242K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 966,204 shares (Indirect, See Footnote);
Common Stock — 21,344 shares (Direct, null)
Footnotes (1)
- These shares sold pursuant to a 10b5-1 plan dated March 13, 2026. The price reported in Column 4 is a weighted average price. These shares were sold at prices ranging from $41.82 to $42.115, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. These shares are held by the Kevin J. O'Connor Revocable Trust U/A DTD 06-13-19. The price reported in Column 4 is a weighted average price. These shares were sold at prices ranging from $41.74 to $42.735, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold at prices ranging from $42.76 to $43.19, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Key Figures
Shares sold: 11,538 shares
Sale price 1: $41.93 per share
Sale price 2: $42.40 per share
+4 more
7 metrics
Shares sold
11,538 shares
Total common stock sold in open-market transactions
Sale price 1
$41.93 per share
Weighted average price for one sale tranche
Sale price 2
$42.40 per share
Weighted average price for second sale tranche
Sale price 3
$42.99 per share
Weighted average price for third sale tranche
Indirect holdings after sales
962,132 shares
Common stock held by revocable trust after latest transaction
Direct holdings
21,344 shares
Common stock held directly as of holding entry
Price range of sales
$41.74–$43.19 per share
Trade ranges cited in weighted-average price footnotes
Key Terms
Rule 10b5-1 plan, weighted average price, revocable trust, open-market sale
4 terms
Rule 10b5-1 plan financial
"These shares sold pursuant to a 10b5-1 plan dated March 13, 2026."
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
revocable trust financial
"These shares are held by the Kevin J. O'Connor Revocable Trust U/A DTD 06-13-19."
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
FAQ
What insider transaction did Procore Technologies (PCOR) disclose for Kevin J. O’Connor?
Procore disclosed that director Kevin J. O’Connor’s revocable trust sold 11,538 shares of common stock in open‑market transactions. The sales occurred on July 1–2, 2026 at weighted average prices around $42 per share, according to the Form 4 filing.
Was Kevin J. O’Connor’s Procore (PCOR) stock sale under a Rule 10b5-1 plan?
Yes. The filing states the shares were sold pursuant to a Rule 10b5‑1 trading plan dated March 13, 2026. Such plans are pre‑arranged and automate trades, which generally makes the timing less indicative of the insider’s short‑term market view.
How large were Kevin J. O’Connor’s Procore (PCOR) sales relative to his remaining position?
The trust sold 11,538 shares while ending with 962,132 shares indirectly, plus 21,344 shares directly. This indicates the reported open‑market sales were modest compared with the overall holdings that remain, suggesting ongoing meaningful exposure to Procore stock.