Procore (PCOR) SVP William Fleming Sells Shares, Exercises Options

What Happened

• William Fred Fleming Jr, SVP and Corporate Controller of Procore Technologies (PCOR), executed two related transactions on Aug 11, 2026: he exercised 3,118 stock option shares (code M) at $12.22 per share for a total exercise cost of $38,102, and he sold 10,000 shares in an open-market sale for a total of $589,500. The exercised 3,118 shares were also reported as disposed the same day (derivative disposition).

Key Details

• Transaction dates: 2026-08-11 (reported on Form 4 filed 2026-08-13)
• Sales: 10,000 shares sold open market at a weighted avg price of $58.95 ($58.90–$58.965 range), proceeds $589,500.
• Option exercise: 3,118 shares acquired at $12.22 per share, cost $38,102; those 3,118 shares were reported as disposed (derivative) the same day for $38,102 in the filing.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1 notes the sale price is a weighted average within $58.90–$58.965; F2 describes the option’s vesting (1/4 vested on June 4, 2019, then monthly 1/48ths thereafter).
• Timeliness: Form 4 was filed two days after the transactions (filed 2026-08-13 for 2026-08-11 trades), consistent with required reporting timing.

Context

• The filing shows an option exercise (M) followed by a same-day disposition of the exercised shares; this pattern is commonly used to cover exercise costs or tax obligations but the filing itself does not state a reason.
• These are insider transactions by an executive officer (not a 10% owner), and as typical with sales, they are factual disclosures rather than explicit endorsements of company prospects.