Procore (PCOR) Director Disposes 16,632 Shares; 10b5-1 Plan Used
Rhea-AI Filing Summary
Kevin J. O'Connor, a director of Procore Technologies (PCOR), reported dispositions of common stock under a 10b5-1 plan dated November 21, 2024. The Form 4 shows three sales on 08/19/2025 and 08/20/2025 totaling 16,632 shares disposed of. Weighted-average sale prices are reported in ranges: $65.81–$66.75, $66.81–$66.82, and $64.585–$65.40, producing the per-line weighted averages of $66.28, $66.82, and $64.85 as listed. After the reported transactions the beneficial ownership is shown at 1,138,713 shares, held indirectly through the Kevin J. O'Connor Revocable Trust.
Positive
- Trades executed under a 10b5-1 plan, indicating prearranged, rule-compliant dispositions
- Detailed disclosure of weighted-average price ranges for each sale tranche, aiding transparency
- Post-transaction beneficial ownership disclosed (1,138,713 shares held indirectly via a revocable trust)
Negative
- Insider dispositions of 16,632 shares reduced holdings from 1,146,459 to 1,138,713, representing insider liquidity
Insights
TL;DR: Director sold 16,632 shares under a pre-existing 10b5-1 plan; filings show transparent price ranges and post-sale ownership around 1.14M shares.
The Form 4 documents routine insider dispositions executed pursuant to a 10b5-1 trading plan dated November 21, 2024, which supports an affirmative-defense framework for scheduled trades. The amounts sold (16,632 shares) represent a small fraction of the post-transaction beneficial ownership (about 1.14 million shares), and the filing discloses weighted-average price ranges for the executed sales. For investors, the filing is a standard disclosure of insider liquidity rather than an indicator of operational change.
TL;DR: Disclosure complies with Section 16 rules; sales were via an established 10b5-1 plan and were reported promptly by attorney-in-fact.
The report includes the 10b5-1 plan checkbox, detailed price ranges for each tranche, and an attestation signed by an attorney-in-fact on 08/21/2025. Indirect ownership through a revocable trust is explicitly noted, which clarifies the reporting structure. From a governance perspective, the form demonstrates adherence to insider trading disclosure protocols and provides sufficient granularity for stakeholders seeking trade timing and magnitude details.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 7,692 | $64.85 | $499K |
| Sale | Common Stock | 7,638 | $66.28 | $506K |
| Sale | Common Stock | 54 | $66.82 | $4K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- These shares sold pursuant to a 10b5-1 plan dated November 21, 2024. The price reported in Column 4 is a weighted average price. These shares were sold at prices ranging from $65.81 to $66.75, 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 $66.81 to $66.82, 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 $64.585 to $65.40, 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.
