PCOR Form 4: Chief Legal Officer disposes 1,036 shares under 10b5-1 plan
Rhea-AI Filing Summary
Benjamin C. Singer, Chief Legal Officer and Secretary of Procore Technologies, sold 1,036 shares of Procore common stock on 09/23/2025 at a price of $75 per share. After this transaction he beneficially owned 85,330 shares. The sale was executed pursuant to a 10b5-1 plan dated August 15, 2024, and the Form 4 was signed on 09/24/2025.
The filing reports a single non-derivative disposition and does not disclose any other purchases, derivative transactions, or changes in indirect ownership. The Form 4 indicates the reporting person filed individually and identifies his relationship to the issuer as an officer and director.
Positive
- Sale executed under a documented 10b5-1 plan, indicating preplanned trading and stronger compliance transparency
- Complete Section 16 disclosure with transaction date, price, and remaining shares, meeting filing requirements
Negative
- Insider disposed of 1,036 shares, reducing direct holdings from the prior level to 85,330 shares
Insights
TL;DR: Routine insider sale under a pre-established 10b5-1 plan; small single disposition versus total holdings.
The reported sale of 1,036 shares at $75 is a non-derivative, routine disposition executed under a 10b5-1 trading plan dated August 15, 2024. The filing shows the reporting person retains 85,330 shares after the sale. From a financial-signals perspective, the transaction appears procedural rather than indicative of a change in view about company fundamentals because it was preplanned; no derivative activity or additional disclosures are reported.
TL;DR: Disclosure follows Section 16 requirements and cites a documented 10b5-1 plan, supporting compliance and transparency.
The Form 4 discloses the reporting persons officer role and provides required details: transaction date, amount sold, price, and remaining beneficial ownership. The explicit note that the sale was pursuant to a 10b5-1 plan dated August 15, 2024, is important for governance review because it documents preclearance and reduces concerns about opportunistic timing. No other governance issues or amendments are indicated in the filing.