Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 41

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 the 2021 Plan automatically increases on January 1 of each calendar year, starting on January 1, 2022 through January 1, 2031, in an amount equal to either (i) 5% of the total number of shares of the Company’s common stock outstanding on December 31 of the fiscal year before the date of each automatic increase, or (ii) a lesser number of shares determined by the Board prior to the applicable January 1. Accordingly, on January 1, 2025, the number of shares of common stock that may be issued under the 2021 Plan increased by an additional 7,492,656 shares. As a result, as of September 30, 2025, a total of 59,355,916 shares of common stock are authorized for issuance under the 2021 Plan. As of September 30, 2025, a total of 38,217,314 shares of common stock were available for issuance under the 2021 Plan. No stock options have been issued under the 2021 Plan. Stock optionsNo stock options were granted during the periods presented.The following table summarizes the stock option activity during the nine months ended September 30, 2025:Number ofSharesWeighted-AverageExercise PriceOutstanding at December 31, 20243,152,158$12.29 Exercised(561,356)15.57 Outstanding at September 30, 20252,590,80211.58 Exercisable at September 30, 20252,590,802$11.58 As of September 30, 2025, there is no unrecognized stock-based compensation cost for stock options previously granted by the Company.Restricted stock unitsService-based restricted stock unitsIn 2018, the Company began issuing RSUs to certain employees, officers, non-employee consultants, and directors. Other than as described below, all of the RSUs granted subsequent to the Company’s initial public offering (“IPO”) vest based solely on continued service, which is generally over four years, on either a quarterly or annual vesting schedule. 

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Table of ContentsProcore Technologies, Inc.Notes to Condensed Consolidated Financial Statements (unaudited)

The following table summarizes the RSU activity during the nine months ended September 30, 2025:Number ofSharesWeighted-Average GrantDate Fair ValueOutstanding at December 31, 20247,071,443$65.85