ICONIQ funds restructure Procore share holdings
PROCORE TECHNOLOGIES, INC. insider filings show ICONIQ-related entities restructuring their stake without open-market trading.
Rhea-AI Filing Summary
PROCORE TECHNOLOGIES, INC. insider filings show ICONIQ-related entities restructuring their stake without open-market trading. On March 12, 2026, ICONIQ Strategic Partners III GP, L.P. distributed 507,452 shares of Procore common stock to a limited partner for no consideration under Exchange Act Rules 16a-13 and 16a-9.
Following the distribution, Procore shares are reported as held indirectly through multiple ICONIQ Strategic Partners funds and estate-planning trusts. These include 2,634,478 shares held by ICONIQ Strategic Partners III, L.P. and 3,348,293 shares held indirectly by Divesh Makan through family trusts, with all relevant parties disclaiming beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 507,452 shares
Other
12 txns
Insider
ICONIQ Strategic Partners III GP, L.P., ICONIQ Strategic Partners III TT GP, Ltd., Makan Divesh
Role
10% Owner | 10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 507,452 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 0 shares (Direct);
Common Stock — 2,634,478 shares (Indirect, By ICONIQ Strategic Partners III, L.P.);
Common Stock — 2,814,976 shares (Indirect, By ICONIQ Strategic Partners III-B, L.P.);
Common Stock — 1,027,611 shares (Indirect, By ICONIQ Strategic Partners III Co-Invest, L.P., Series P);
Common Stock — 1,876,073 shares (Indirect, By ICONIQ Strategic Partners IV, L.P.);
Common Stock — 3,108,450 shares (Indirect, By ICONIQ Strategic Partners IV-B, L.P.);
Common Stock — 940,443 shares (Indirect, By ICONIQ Strategic Partners IV Co-Invest, L.P., Series P);
Common Stock — 115,070 shares (Indirect, By ICONIQ Strategic Partners V, L.P.);
Common Stock — 177,265 shares (Indirect, By ICONIQ Strategic Partners V-B, L.P.);
Common Stock — 857,031 shares (Indirect, By ICONIQ Strategic Partners VI, L.P.);
Common Stock — 1,069,534 shares (Indirect, By ICONIQ Strategic Partners VI-B, L.P.);
Common Stock — 3,348,293 shares (Indirect, By Divesh Makan)
Footnotes (5)
- F1. On March 12, 2026, ICONIQ Strategic Partners III GP, L.P. ("ICONIQ III GP") distributed, for no consideration, in the aggregate 507,452 shares of the Issuer's Common Stock received in prior distributions (the "ICONIQ III GP Shares") to its limited partner, representing such partner's pro rata interest in such ICONIQ III GP Shares. The aforementioned distribution was made in accordance with the exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").
- F2. ICONIQ III GP is the sole general partner of each of ICONIQ Strategic Partners III, L.P. ("ICONIQ III"), ICONIQ Strategic Partners III-B, L.P. ("ICONIQ III-B") and ICONIQ Strategic Partners III Co-Invest, L.P., Series P ("ICONIQ III Co-Invest"). ICONIQ Strategic Partners III TT GP, Ltd. ("ICONIQ III Parent GP") is the sole general partner of ICONIQ III GP. ICONIQ Strategic Partners IV GP, L.P. ("ICONIQ IV GP") is the sole general partner of each of ICONIQ Strategic Partners IV, L.P. ("ICONIQ IV"), ICONIQ Strategic Partners IV-B, L.P. ("ICONIQ IV-B") and ICONIQ Strategic Partners IV Co-Invest, L.P., Series P ("ICONIQ IV Co-Invest"). ICONIQ Strategic Partners IV TT GP, Ltd. ("ICONIQ IV Parent GP") is the sole general partner of ICONIQ IV GP.
- F3. (continued) ICONIQ Strategic Partners V GP, L.P. ("ICONIQ V GP") is the sole general partner of each of ICONIQ Strategic Partners V, L.P. ("ICONIQ V") and ICONIQ Strategic Partners V-B, L.P. ("ICONIQ V-B"). ICONIQ Strategic Partners V TT GP, Ltd. ("ICONIQ V Parent GP") is the sole general partner of ICONIQ V GP. ICONIQ Strategic Partners VI GP, L.P. ("ICONIQ VI GP") is the sole general partner of each of ICONIQ Strategic Partners VI, L.P. ("ICONIQ VI") and ICONIQ Strategic Partners VI-B, L.P. ("ICONIQ VI-B"). ICONIQ Strategic Partners VI TT GP, Ltd. ("ICONIQ VI Parent GP") is the sole general partner of ICONIQ VI GP.
- F4. (continued) Divesh Makan ("Makan") and William J.G. Griffith ("Griffith") are the sole equity holders of ICONIQ III Parent GP. Makan, Griffith and Matthew Jacobson ("Jacobson") are the sole equity holders of each of ICONIQ IV Parent GP, ICONIQ V Parent GP and ICONIQ VI Parent GP. Each of ICONIQ III GP, ICONIQ III Parent GP, ICONIQ IV GP, ICONIQ IV Parent GP, ICONIQ V GP, ICONIQ V Parent GP, ICONIQ VI GP, ICONIQ VI Parent GP, Makan, Griffith and Jacobson disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.
- F5. The shares are held by Makan through his family trust of which he is a trustee and another estate planning trust having an independent trustee. Includes an aggregate of 507,452 ICONIQ III GP Shares received in the distributions described herein. Makan disclaims beneficial ownership of the shares held by such trusts for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that Makan is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.
FAQ
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What insider transaction did ICONIQ III GP report for PROCORE TECHNOLOGIES (PCOR)?
ICONIQ Strategic Partners III GP, L.P. reported distributing 507,452 shares of Procore common stock to a limited partner for no consideration. The distribution occurred on March 12, 2026 and was characterized as an internal restructuring under Exchange Act Rules 16a-13 and 16a-9.
AI-generated analysis. How Rhea-AI works. Not financial advice.
