Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 40

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 40
---
 shares of common stock are authorized for issuance under the 2021 Plan. As of June 30, 2025, a total of 38,890,813 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 six months ended June 30, 2025:Number ofSharesWeighted-AverageExercise PriceOutstanding at December 31, 20243,152,158$12.29 Exercised(485,546)15.59 Outstanding at June 30, 20252,666,61211.69 Exercisable at June 30, 20252,666,612$11.69 As of June 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. The following table summarizes the RSU activity during the six months ended June 30, 2025:Number ofSharesWeighted-Average GrantDate Fair ValueOutstanding at December 31, 20247,071,443$65.85 Granted2,991,74768.12 Vested(1,720,006)64.08 Canceled/Forfeited(629,287)66.23 Outstanding at June 30, 20257,713,897$67.08 As of June 30, 2025, the total unrecognized stock‑based compensation cost for all RSUs outstanding was $490.9 million, which is expected to be recognized over a weighted‑average vesting period of 3.0 years.Performance-based restricted stock unitsIn 2022, the Company began granting PSUs to certain non-executive employees with vesting terms based on the achievement of certain operating performance goals. 

23

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

In March 2025, the Company granted its CEO an aggregate target number