Craig F. Courtemanche Jr., a director on the board of Procore Technologies, INC. (NASDAQ:PCOR), completed a set of transactions on March 10, 2026, that included the sale of common stock worth about $3.2 million and the exercise of stock options.
Under a pre-arranged 10b5-1 trading plan, Courtemanche sold 56,121 shares of Procore common stock at prices between $56.99 and $58.41 per share, for aggregate proceeds of approximately $3.2 million. On the same day he exercised options that granted him the right to acquire an identical 56,121 shares at an exercise price of $2.42 per share, with the exercise valued at $135,812.
Following these transactions, Courtemanche's direct holdings of Procore common stock stand at 927,580 shares. In addition to his direct stake, he has indirect ownership through multiple family trusts and his spouse: 2,692,461 shares via the Craig F. Courtemanche and Hillary Courtemanche Family Trust; 1,155,480 shares through the Courtemanche 2021 Irrevocable Trust; 527,349 shares held by The Courtemanche 2016 Irrevocable Trust; and 23,736 shares registered in his spouse's name.
Market context for the stock: Procore's shares have fallen 22% year-to-date. Despite that decline, analysis from InvestingPro referenced in company reporting indicates the stock remains undervalued relative to its Fair Value. The company is identified in the reporting as an $8.56 billion construction software company, and investors seeking further detail were directed to the comprehensive Pro Research Report for additional financial analysis and related ProTips.
Operational and leadership developments at Procore accompanied the insider activity. The company reported fourth-quarter 2025 results that exceeded consensus projections, delivering earnings per share of $0.37 against an expected $0.36 and revenue of $349 million compared with an anticipated $340.76 million.
Procore also disclosed upcoming chief executive changes in the finance and revenue functions. Rachel Pyles has been named Chief Financial Officer Designate and Walt Hearn Chief Revenue Officer Designate. Both are scheduled to assume their full responsibilities on April 1, 2026. Concurrently, Howard Fu and Larry Stack will transition into strategic advisory roles.
Analyst responses to the quarter and the leadership announcements were mixed. Stifel maintained a Buy rating on the shares with a $63 price target. Canaccord reduced its target from $15 to $10, citing a muted growth outlook. BMO Capital retained an Outperform rating with a $67 price target following the executive moves.
The transactions by Courtemanche, the quarter's results, and the executive shifts together detail ongoing strategic adjustments and the company's recent financial performance. The filing shows the director's sales followed a 10b5-1 plan and that the option exercises were executed in tandem with those sales.
Readers should note that information on the company's valuation reference and the Pro Research Report were included in the company-related reporting and that the market and analyst reactions cited above reflect positions and commentary disclosed alongside Procore's financial update.