Procore (NYSE: PCOR) awards 114,248 RSUs to product & tech chief
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Davis Steven Scott reported acquisition or exercise transactions in this Form 4 filing.
PROCORE TECHNOLOGIES, INC. granted President of Product & Technology Steven Scott Davis 114,248 shares of common stock in the form of restricted stock units at no cash cost. These RSUs vest in twelve equal quarterly installments on February 20, May 20, August 20 and November 20, beginning with the first such date after February 20, 2026, as long as he remains in service. Following this award, he directly holds 303,816 shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Davis Steven Scott
Role
President Product & Technology
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 114,248 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 303,816 shares (Direct)
Footnotes (1)
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Key Figures
RSU grant size: 114,248 shares
Grant price: $0.00 per share
Holdings after grant: 303,816 shares
+2 more
5 metrics
RSU grant size
114,248 shares
Restricted stock units granted on March 31, 2026
Grant price
$0.00 per share
Equity award, non-cash compensation
Holdings after grant
303,816 shares
Total common stock directly held after transaction
Vesting fraction
1/12 per vesting date
Quarterly vesting across twelve installments
Vesting schedule dates
Feb 20, May 20, Aug 20, Nov 20
Quarterly Company Vesting Dates beginning after Feb 20, 2026
Key Terms
restricted stock units, Company Vesting Date, vesting commencement date, continued service
4 terms
restricted stock units financial
"Represents shares of common stock issuable upon the settlement of restricted stock units (the "RSUs")."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Company Vesting Date financial
"One-twelfth (1/12th) of the RSUs vest quarterly on each February 20, May 20, August 20 and November 20 (each, a "Company Vesting Date")."
vesting commencement date financial
"beginning with the first Company Vesting Date following the vesting commencement date of February 20, 2026"
The vesting commencement date is the starting point when an employee begins earning ownership rights to their promised benefits, such as stock options or retirement contributions. Think of it like the day a savings account is opened—only after this date do the benefits start to grow and become fully available over time. It matters to investors because it marks when the clock begins ticking toward full ownership, affecting the timing and value of these benefits.
continued service financial
"and subject to the Reporting Person's continued service through each Company Vesting Date."
FAQ
What did Procore (PCOR) insider Steven Scott Davis receive in this Form 4?
Steven Scott Davis, Procore’s President of Product & Technology, received 114,248 shares of common stock as restricted stock units. The award is a compensation grant, recorded at a price of $0.00 per share, and increases his direct holdings to 303,816 shares.
How do the new Procore (PCOR) RSUs granted to Steven Scott Davis vest?
The 114,248 RSUs vest in twelve equal quarterly installments. Vesting occurs on February 20, May 20, August 20 and November 20, starting with the first such date after February 20, 2026, and requires Mr. Davis to remain in continuous service.
Is the Procore (PCOR) Form 4 transaction an open-market purchase or sale?
The transaction is not an open-market trade. It is a grant of restricted stock units reported with code “A,” described as a grant, award or other acquisition, and carries a price per share of $0.00 as part of equity compensation.
What conditions apply to the vesting of Procore (PCOR) RSUs granted to Steven Scott Davis?
Each quarterly vesting of the RSUs is contingent on continued service. One-twelfth of the 114,248 restricted stock units vests on each specified Company Vesting Date only if Mr. Davis remains in service through that date.