Procore Technologies, Inc. Files Definitive Proxy Statement

Ticker: PCOR · Form: DEF 14A · Filed: 2024-04-25T00:00:00.000Z

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Procore Technologies, SEC Filing, Corporate Governance

TL;DR

<b>Procore Technologies, Inc. has filed its Definitive Proxy Statement for the period ending June 6, 2024.</b>

AI Summary

PROCORE TECHNOLOGIES, INC. (PCOR) filed a Proxy Statement (DEF 14A) with the SEC on April 25, 2024. Procore Technologies, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 25, 2024. The filing covers the period ending June 6, 2024. The company's principal executive offices are located at 6309 Carpinteria Ave., Carpinteria, CA 93013. The filing is made pursuant to Section 14(a) of the Securities Exchange Act of 1934. The SIC code for Procore Technologies, Inc. is 7372 (Services-Prepackaged Software).

Why It Matters

For investors and stakeholders tracking PROCORE TECHNOLOGIES, INC., this filing contains several important signals. This filing is a standard regulatory requirement for public companies, providing shareholders with information necessary to vote on corporate matters. The DEF 14A filing details executive compensation, board nominations, and other significant corporate governance issues that shareholders will vote on.

Risk Assessment

Risk Level: low — PROCORE TECHNOLOGIES, INC. shows low risk based on this filing. The filing is a routine proxy statement and does not contain new financial performance data or strategic shifts that would inherently increase risk.

Analyst Insight

Review the proxy statement for details on executive compensation, board composition, and any shareholder proposals to understand potential governance changes and management incentives.

Key Numbers

Key Players & Entities

FAQ

When did PROCORE TECHNOLOGIES, INC. file this DEF 14A?

PROCORE TECHNOLOGIES, INC. filed this Proxy Statement (DEF 14A) with the SEC on April 25, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by PROCORE TECHNOLOGIES, INC. (PCOR).

Where can I read the original DEF 14A filing from PROCORE TECHNOLOGIES, INC.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by PROCORE TECHNOLOGIES, INC..

What are the key takeaways from PROCORE TECHNOLOGIES, INC.'s DEF 14A?

PROCORE TECHNOLOGIES, INC. filed this DEF 14A on April 25, 2024. Key takeaways: Procore Technologies, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 25, 2024.. The filing covers the period ending June 6, 2024.. The company's principal executive offices are located at 6309 Carpinteria Ave., Carpinteria, CA 93013..

Is PROCORE TECHNOLOGIES, INC. a risky investment based on this filing?

Based on this DEF 14A, PROCORE TECHNOLOGIES, INC. presents a relatively low-risk profile. The filing is a routine proxy statement and does not contain new financial performance data or strategic shifts that would inherently increase risk.

What should investors do after reading PROCORE TECHNOLOGIES, INC.'s DEF 14A?

Review the proxy statement for details on executive compensation, board composition, and any shareholder proposals to understand potential governance changes and management incentives. The overall sentiment from this filing is neutral.

How does PROCORE TECHNOLOGIES, INC. compare to its industry peers?

Procore Technologies operates in the prepackaged software industry, providing cloud-based software for the construction industry.

Are there regulatory concerns for PROCORE TECHNOLOGIES, INC.?

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a), which governs the solicitation of proxies.

Industry Context

Procore Technologies operates in the prepackaged software industry, providing cloud-based software for the construction industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a), which governs the solicitation of proxies.

What Investors Should Do

  1. Review the proxy statement for details on director nominees and their qualifications.
  2. Examine the executive compensation disclosures to understand pay structures and performance metrics.
  3. Identify any shareholder proposals and the company's recommendation for voting.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard definitive proxy statement. Specific comparative data from a previous filing is not directly available in this excerpt.

Filing Stats: 4,771 words · 19 min read · ~16 pages · Grade level 11.7 · Accepted 2024-04-25 16:25:11

Filing Documents

Executive Compensation

Executive Compensation 35

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 63 Certain Relationships and Related Person Transactions 66 Householding of Proxy Materials 68 Other Matters 69 Appendix A—Definitions and Reconciliations of Non-GAAP Financial Measures A-1 PROCORE TECHNOLOGIES, INC. 2024 PROXY STATEMENT i Table of Contents Proxy Statement Summary Proxy Statement Summary The following summary highlights information contained elsewhere in this proxy statement (this "Proxy Statement"). We encourage you to carefully review this Proxy Statement in its entirety before casting your vote. Who We Are Procore Technologies, Inc., a Delaware corporation ("Procore," the "Company," "us," or "our") is the leading global provider of cloud-based construction management software. Since 2002, we have pursued our mission of connecting everyone in construction on a global platform. Our platform connects key project stakeholders to solutions we have built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Headquartered in Carpinteria, California, we have offices around the globe. Annual Meeting Information Date: Thursday, June 6, 2024 Time: 9:00 a.m., Pacific Time Location: www.proxydocs.com/PCOR (Virtual Only) Record Date: Close of Business on April 12, 2024 Board Highlights The information provided in this section is current as of April 12, 2024. Please refer to the section titled "Information Regarding the Board of Directors and Corporate Governance" beginning on page 11 of this Proxy Statement for more details. PROCORE TECHNOLOGIES, INC. 2024 PROXY STATEMENT 1 Table of Contents Proxy Statement Summary

Executive Compensation Highlights

Executive Compensation Highlights We focus on providing a competitive compensation package to our executive officers, comprised of both annual and long-term incentives that help drive corporate objectives. We believe this approach provides an appropriate blend of incentives to maximize stockholder value. In 2024, we introduced performance-based equity incentives for our Chief Executive Officer. Please refer to the section titled "Executive Compensation" beginning on page 35 of this Proxy Statement for more details. At our 2023 annual meeting of stockholders (the "2023 Annual Meeting"), nearly 97% of the votes cast approved, on an advisory basis, the fiscal year 2022 compensation of our named executive officers. Stockholder Engagement Maintaining regular dialogue with our stockholders is critically important to our Board and management team. Through our engagement and outreach efforts, we aim to solicit feedback from our investors and understand issues that are important to them. Additionally, we proactively communicate with the investment community and our stockholders about our financial performance, operations, and strategic developments through the following: + Quarterly earnings releases, investor presentations, and conference calls; + Webcasts, conference calls, and presentations related to specific developments; + Participation in a number of investor conferences with webcast presentations; + In-person and telephonic meetings with investors and stakeholders, including our Investor Day; + Proactive outreach to institutional investors, pension funds, and governance professionals from our largest stockholders; and + Our annual stockholder meeting that includes a Q&A session. 2 PROCORE TECHNOLOGIES, INC. 2024 PROXY STATEMENT Table of Contents General Information |Questions and Answers As part of our engagement efforts, we meet with stockholders throughout the year to discuss a range of topics, including strategic priorities and

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