Company: PCOR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093502
Chunk: 67

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 67
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 occurred after the last day of the performance period, any unvested PSUs that had been certified as being eligible to vest based on attainment of the applicable performance goal will vest in full in connection with such termination. The PSUs granted under our 2021 Plan to our CEO in 2025 have substantially similar acceleration provisions for the holder’s termination of service by reason of death or permanent disability. Pay Ratio Under Dodd-Frank and Item 402(u) of Regulation S-K, we are required to disclose the median of the annual total compensation of our employees, the annual total compensation of our PEO (our CEO, Mr. Courtemanche), and the ratio of these two amounts. We estimate that the median of the 2024 annual total compensation for all employees of the Company as of December 31, 2024 (the “Determination Date”), excluding our CEO, was $146,152, as calculated pursuant to relevant SEC rules (the “Median Annual Compensation”). The total compensation of our CEO in 2024 was $16,122,797, as reflected in the Summary Compensation Table on page 48 of this Proxy Statement. The ratio of our CEO’s 2024 total compensation to the Median Annual Compensation was approximately 110 to 1. We believe that this pay ratio is a reasonable estimate calculated in a manner consistent with relevant SEC rules. As noted above, we selected December 31, 2024, as the date upon which we would identify the “median employee.” We included all of our full-time and part-time employees globally, but excluded our CEO and approximately 34 employees who joined Procore as part of our acquisition of Intelliwave Technologies Inc. during 2024. Our analysis included approximately 4,100 full-time and part-time employees, including hourly employees. The consistently applied compensation measure that we used to identify the median employee was the sum of:

| + | the 2024 base salary in effect on the Determination Date (prorated for the portion of the year worked, in the case of employees who commenced employment in 2024), without any cost of living adjustments with respect to employees outside the U.S.; |

| + | the 2024 target annual bonus or commission target as in effect on the Determination Date (prorated for the portion of the year worked or eligible for the bonus plan, in the case of employees who commenced employment or first became eligible for a bonus in 2024); and |

| + | the grant date fair value of equity awards granted