Company: PCOR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093502
Chunk: 32

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 32
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 automatically receives, on the date of joining our Board, an RSU award having a target equity value of $450,000 (the “Initial Award”). Each Initial Award will vest in three equal annual installments, with the first vesting date being the company vesting date (each February 20, May 20, August 20, and November 20, each a “Company Vesting Date”) that most closely precedes the first anniversary of the grant date of the Initial Award, subject to the non-employee director continuing to provide service to us through each applicable vesting date. On the date of each annual meeting of our stockholders, each person who is then a non-employee director, and who has been a non-employee director for not less than six months as of such annual meeting date, will (unless waived) automatically receive an RSU award having a target equity value of $200,000 (the “Annual Award”). Each Annual Award will vest on the date of the following year’s annual meeting of our stockholders (or the date immediately prior to the date of the next annual meeting of our stockholders if the non-employee director’s service as a director ends at such meeting due to the director’s failure to be reelected or the director not standing for reelection), subject to the non-employee director continuing to provide service to us through the applicable vesting date. For RSUs granted in 2024 and later, each non-employee director has the opportunity to elect to defer settlement of the RSUs until the earlier of (i) the date that is 90 days following the date on which the director ceases to serve as a member of the Board or (ii) a change in control (each as described in the non-employee director compensation policy). In the event of a change in control (as defined in our 2021 Plan), each non-employee director’s then outstanding Initial Award and Annual Award, if any, will become fully vested immediately prior to the closing of the change in control, provided that the non-employee director remains in continuous service through such time. All outstanding and future options and RSUs issued under our 2014 Equity Incentive Plan (our “2014 Plan”) and our 2021 Plan (including those held by our non-employee directors) will vest in full in connection with the holder’s termination of service by reason of death or permanent disability. Cash Compensation In addition, each non-employee director is entitled to receive the following cash compensation for services on