Procore (PCOR) chairman sells 56K shares after option exercise under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PROCORE TECHNOLOGIES, INC. Chairman of the Board Craig F. Courtemanche Jr. reported a combination of option exercises and share sales in company stock. On May 11, 2026, he exercised stock options covering 56,122 shares of common stock at an exercise price of $2.42 per share and received the corresponding common shares.
That same day, he sold a total of 56,122 common shares in three open-market transactions at weighted average prices of $50.26, $51.16, and $52.69 per share, pursuant to a pre-arranged Rule 10b5-1 trading plan dated December 9, 2025. After these transactions, he directly holds 983,702 shares of common stock and retains options on 280,610 shares. In addition to these direct holdings, indirect positions are reported through a spouse and multiple family trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 56,122 shares ($2,865,484)
Net Sell
9 txns
Insider
Courtemanche Craig F. Jr.
Role
null
Sold
56,122 shs ($2.87M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 56,122 | $2.42 | $136K |
| Exercise | Common Stock | 56,122 | $2.42 | $136K |
| Sale | Common Stock | 24,286 | $50.26 | $1.22M |
| Sale | Common Stock | 21,287 | $51.16 | $1.09M |
| Sale | Common Stock | 10,549 | $52.69 | $556K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 280,610 shares (Direct, null);
Common Stock — 983,702 shares (Direct, null);
Common Stock — 2,692,461 shares (Indirect, See Footnote)
Footnotes (1)
- These shares sold pursuant to a 10b5-1 plan dated December 9, 2025. The price reported in Column 4 is a weighted average price. These shares were sold at prices ranging from $49.74 to $50.71, 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 $50.83 to $51.75, 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. The price reported in Column 4 is a weighted average price. These shares were sold at prices ranging from $52.21 to $53.09, 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 Craig F. Courtemanche and Hillary Courtemanche Family Trust dated as of November 1, 2012. These shares are held by the Courtemanche 2021 Irrevocable Trust UA DTD 6/10/2021. These shares are held by The Courtemanche 2016 Irrevocable Trust. The shares subject to the option vested in 60 equal monthly installments beginning on the one month anniversary of February 5, 2016, subject to continued service through each applicable vesting date.
Key Figures
Shares sold: 56,122 shares
Sale prices: $50.26, $51.16, $52.69/share
Options exercised: 56,122 shares at $2.42/share
+4 more
7 metrics
Shares sold
56,122 shares
Open-market sales of common stock on May 11, 2026
Sale prices
$50.26, $51.16, $52.69/share
Weighted average prices for three sale tranches
Options exercised
56,122 shares at $2.42/share
Stock option exercise converting into common stock
Direct holdings after
983,702 shares
Common stock directly held after transactions
Remaining options
280,610 options
Stock options outstanding after the reported exercise
Spouse indirect holdings
23,736 shares
Common stock held indirectly through spouse
Largest trust holding
2,692,461 shares
Common stock held by The Courtemanche 2016 Irrevocable Trust
Key Terms
Rule 10b5-1 plan, weighted average price, irrevocable trust, Stock Option (Right to Buy), +1 more
5 terms
Rule 10b5-1 plan financial
"These shares sold pursuant to a 10b5-1 plan dated December 9, 2025."
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.
irrevocable trust financial
"These shares are held by the Courtemanche 2021 Irrevocable Trust UA DTD 6/10/2021."
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
Stock Option (Right to Buy) financial
"Stock Option (Right to Buy) ... underlying security title Common Stock"
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 transactions did PCOR chairman Craig Courtemanche report on May 11, 2026?
Craig Courtemanche reported exercising options for 56,122 Procore shares and selling 56,122 common shares on May 11, 2026. The sales occurred in three open-market transactions at different weighted average prices under a pre-arranged Rule 10b5-1 trading plan.
What stock options did Craig Courtemanche exercise in this Procore Form 4?
He exercised stock options covering 56,122 shares of Procore common stock at an exercise price of $2.42 per share. These options vested in 60 equal monthly installments beginning after February 5, 2016, conditioned on continued service through each applicable vesting date.
Were Craig Courtemanche’s Procore stock sales made under a Rule 10b5-1 plan?
Yes, the Form 4 states the sold shares were pursuant to a Rule 10b5-1 trading plan dated December 9, 2025. Such plans pre-schedule trades in advance, indicating the timing of these open-market sales was determined before the reported transaction date.