Procore chair exercises options, sells 56K shares
Procore Technologies chairman Craig F. Courtemanche Jr. exercised options for 56,122 shares of common stock at $2.42 per share and sold the same 56,122 shares in open-market transactions.
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Form Type
4
Rhea-AI Filing Summary
Procore Technologies chairman Craig F. Courtemanche Jr. exercised options for 56,122 shares of common stock at $2.42 per share and sold the same 56,122 shares in open-market transactions. The sales were executed at weighted average prices between $47.08 and $49.745 under a Rule 10b5-1 trading plan dated December 9, 2025. Following these transactions, he holds 927,580 shares directly and additional indirect holdings through several family trusts and his spouse.
Insider Trade Summary 10b5-1
Exercise and Sale: 56,122 shares ($2.54M approx. pre-tax spread)
Exercise and Sale
9 txns
Insider
Courtemanche Craig F. Jr.
Role
Director
Sold
56,122 shs ($2.67M)
Approx. gross sale proceeds
$2.67M
Approx. exercise cost
$136K
Approx. pre-tax spread
$2.54M
| 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 | 48,465 | $47.45 | $2.30M |
| Sale | Common Stock | 4,922 | $48.43 | $238K |
| Sale | Common Stock | 2,735 | $49.54 | $135K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 336,732 contracts (Direct);
Common Stock — 927,580 shares (Direct);
Common Stock — 4,375,290 shares (Indirect, See Footnote);
Common Stock — 23,736 shares (Indirect, Spouse)
Footnotes (8)
- F1. These shares sold pursuant to a 10b5-1 plan dated December 9, 2025.
- F2. The price reported in Column 4 is a weighted average price. These shares were sold at prices ranging from $47.08 to $47.90, 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.
- F3. The price reported in Column 4 is a weighted average price. These shares were sold at prices ranging from $48.08 to $49.03, 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.
- F4. The price reported in Column 4 is a weighted average price. These shares were sold at prices ranging from $49.12 to $49.745, 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.
- F5. These shares are held by the Craig F. Courtemanche and Hillary Courtemanche Family Trust dated as of November 1, 2012.
- F6. These shares are held by the Courtemanche 2021 Irrevocable Trust UA DTD 6/10/2021.
- F7. These shares are held by The Courtemanche 2016 Irrevocable Trust.
- F8. 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
Options exercised: 56,122 shares at $2.42
Shares sold at ~$47.45: 48,465 shares at $47.45
Shares sold at ~$48.43: 4,922 shares at $48.43
+5 more
8 metrics
Options exercised
56,122 shares at $2.42
Stock Option (Right to Buy) exercised on April 10, 2026
Shares sold at ~$47.45
48,465 shares at $47.45
Open-market sale of common stock on April 10, 2026
Shares sold at ~$48.43
4,922 shares at $48.43
Open-market sale of common stock on April 10, 2026
Shares sold at ~$49.54
2,735 shares at $49.54
Open-market sale of common stock on April 10, 2026
Direct holdings after trades
927,580 shares
Common stock directly owned following April 10, 2026 transactions
Family trust holdings
2,692,461 shares
Common stock held by Courtemanche family trust
2021 irrevocable trust holdings
1,155,480 shares
Common stock held by Courtemanche 2021 Irrevocable Trust
2016 irrevocable trust holdings
527,349 shares
Common stock held by Courtemanche 2016 Irrevocable Trust
Key Terms
Rule 10b5-1 plan, Stock Option (Right to Buy, weighted average price, indirect, +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.
Stock Option (Right to Buy financial
"security_title: Stock Option (Right to Buy)"
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.
indirect financial
"ownership_type: indirect, nature_of_ownership: See Footnote"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Procore (PCOR) chairman Craig Courtemanche do in this Form 4?
Craig F. Courtemanche Jr. exercised stock options for 56,122 Procore shares at $2.42 and sold all 56,122 shares in open-market trades. These transactions were reported as part of his insider ownership disclosures for Procore Technologies.
Was the Procore (PCOR) insider sale under a Rule 10b5-1 plan?
Yes. The filing states the shares were sold pursuant to a Rule 10b5-1 trading plan dated December 9, 2025. Such pre-arranged plans automate trading schedules, helping separate routine liquidity moves from discretionary timing decisions by insiders.
What options did the Procore (PCOR) chairman exercise in this filing?
He exercised a stock option for 56,122 shares of Procore common stock at an exercise price of $2.42 per share. The filing notes the option vested in 60 equal monthly installments starting in 2016, contingent on continued service through each vesting date.
How are the Procore (PCOR) insider’s indirect holdings structured?
Indirect holdings are reported through several family trusts and his spouse’s account. These include shares in the Courtemanche family trust, 2016 and 2021 irrevocable trusts, and a spousal holding, reflecting diversified personal estate and tax planning structures.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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