Procore Technologies (PCOR) chair exercises options, sells 56,122 shares under 10b5-1 plan
Rhea-AI Filing Summary
Craig F. Courtemanche Jr., Chairman of the Board of Procore Technologies, Inc., exercised stock options to acquire 56,122 shares of common stock at $2.42 per share, then sold 56,122 shares in two transactions at weighted average prices of $56.54 and $57.28 per share pursuant to a Rule 10b5-1 plan dated December 9, 2025. Following the option exercise, he holds 112,244 option shares directly and maintains additional indirect common stock holdings, including 23,736 shares held by his spouse and interests in several family trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 56,122 shares ($3.07M approx. pre-tax spread)
Exercise and Sale
8 txns
Insider
Courtemanche Craig F. Jr.
Role
Director
Sold
56,122 shs ($3.21M)
Approx. gross sale proceeds
$3.21M
Approx. exercise cost
$136K
Approx. pre-tax spread
$3.07M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) F8 | 56,122 | $2.42 | $136K |
| Exercise | Common Stock | 56,122 | $2.42 | $136K |
| Sale | Common Stock F1, F2 | 12,642 | $56.54 | $715K |
| Sale | Common Stock F1, F3 | 43,480 | $57.28 | $2.49M |
| holding | Common Stock F4, F5 | -- | -- | -- |
| holding | Common Stock F6 | -- | -- | -- |
| holding | Common Stock F7 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 112,244 shares (Direct);
Common Stock — 919,704 shares (Direct);
Common Stock — 4,375,423 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 $55.99 to $56.90, 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 $57.055 to $57.77, 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. Includes 133 shares that were received in connection with a non-reportable fund distribution.
- F5. These shares were held by 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
Option exercise price: $2.42 per share
Shares sold tranche 1: 12,642 shares at $56.54
+5 more
8 metrics
Options exercised
56,122 shares
Stock options exercised into common stock at $2.42 on August 10, 2026
Option exercise price
$2.42 per share
Exercise price for 56,122 stock option shares
Shares sold tranche 1
12,642 shares at $56.54
Weighted average sale price; prices ranged from $55.99 to $56.90
Shares sold tranche 2
43,480 shares at $57.28
Weighted average sale price; prices ranged from $57.055 to $57.77
Net shares sold
56,122 shares
Net sell volume across reported sale transactions
Options held after exercise
112,244 shares
Total shares subject to options following the reported exercise
Indirect spouse holdings
23,736 shares
Common stock held indirectly through spouse
Vesting installments
60 equal monthly installments
Option vesting schedule beginning one month after February 5, 2016
Key Terms
Rule 10b5-1 plan, weighted average price, Stock Option (Right to Buy), irrevocable trust, +1 more
5 terms
Rule 10b5-1 plan regulatory
"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.
Stock Option (Right to Buy) financial
"security_title: Stock Option (Right to Buy)"
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.
non-reportable fund distribution financial
"Includes 133 shares that were received in connection with a non-reportable fund distribution."
FAQ
What did Procore Technologies (PCOR) chairman Craig F. Courtemanche Jr. report in this Form 4?
Craig F. Courtemanche Jr. reported exercising 56,122 stock options at $2.42 per share and receiving common stock, then Selling 56,122 shares in two transactions at weighted average prices of $56.54 and $57.28 per share.
Were Craig F. Courtemanche Jr.’s Procore (PCOR) stock sales under a Rule 10b5-1 plan?
Yes. The reported sales were made pursuant to a Rule 10b5-1 trading plan dated December 9, 2025, and the report affirms Rule 10b5-1 status, indicating the transactions followed a pre-established plan rather than discretionary timing.
What option position does Courtemanche retain in Procore Technologies (PCOR) after these transactions?
After exercising options for 56,122 shares, Courtemanche continues to hold 112,244 shares subject to stock options directly. These options carry an exercise price of $2.42 per share and were scheduled to vest in 60 equal monthly installments from 2016.
What indirect holdings in Procore (PCOR) common stock are reported for Courtemanche?
Indirectly, Courtemanche reports 23,736 Procore common shares held by his spouse, plus additional interests held through several family trusts, including a Family Trust dated November 1, 2012 and two irrevocable trusts, as described in the ownership footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
