Courtemanche Craig F. Jr. 4

What Happened

• Craig F. Courtemanche Jr., Director and Chairman of the Board of Procore Technologies (PCOR), exercised 56,122 options on 2026-04-10 at $2.42 per share (cost $135,815) and immediately sold the same 56,122 shares in three open-market transactions that day for aggregate proceeds of $2,673,528. Net proceeds after exercise cost were roughly $2.54M.
• The sales were executed under a pre-established 10b5-1 plan dated December 9, 2025.

Key Details

• Transaction date: April 10, 2026; Form 4 filed April 14, 2026 (timely filing).
• Exercise: 56,122 shares acquired at $2.42 each (total $135,815).
• Sales (open market): 48,465 shares @ weighted $47.45 (proceeds $2,299,664); 4,922 shares @ weighted $48.43 (proceeds $238,372); 2,735 shares @ weighted $49.54 (proceeds $135,492). Total proceeds $2,673,528.
• Price ranges: sales executed across price ranges of $47.08–$47.90, $48.08–$49.03, and $49.12–$49.745 (weighted averages reported; per-footnotes, detailed breakdowns available on request).
• Shares owned after the transactions are not specified in the provided filing excerpt.
• Related notes: several holdings referenced as held in family trusts (per filing footnotes) and the exercised option was subject to a long-term vesting schedule detailed in the filing.

Context

• This was effectively a cashless exercise: options were exercised and the resulting shares were sold the same day. Such transactions are often routine liquidity events, especially when done under a 10b5-1 plan; they do not by themselves indicate a change in insider sentiment.
• The 10b5-1 plan and the exercise/sale timing reduce the likelihood that the trades were opportunistic based on nonpublic information, but investors should interpret insider sales cautiously and consider them alongside other insider activity and company fundamentals.