Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 42

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 Granted3,762,49168.33 Vested(2,633,105)64.31 Canceled/Forfeited(889,210)66.64 Outstanding at September 30, 20257,311,619$67.58 As of September 30, 2025, the total unrecognized stock‑based compensation cost for all RSUs outstanding was $468.5 million, which is expected to be recognized over a weighted‑average vesting period of 2.7 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. In September 2025, the Company granted Dr. Ajei S. Gopal, the Company’s CEO Designate, an aggregate target number of 409,283 PSUs (the “2025 CEO Designate PSUs”). The 2025 CEO Designate PSUs are subject to a market condition and will vest based on the Company’s total shareholder return (“TSR”) performance relative to the TSR of the other companies that comprise the S&P Completion Index (CI) Information Technology (the “Index”), subject to Dr. Gopal’s continued service through the applicable vesting date, as described in more detail below. A percentage of the 2025 CEO Designate PSUs ranging from 0% to 50% may become eligible to vest (such portion that actually becomes eligible to vest, as determined by the Board or an authorized committee thereof, the “Eligible Tranche 1 PSUs”) based on the applicable percentile ranking of the TSR of the Company’s common stock, as measured over the three-year period beginning on (and including) September 22, 2025 (the “Initial Start Date”), relative to the TSR of the other companies that comprise the Index, measured over the same three-year period. In addition, a percentage of the CEO Designate PSUs ranging from 0% to 200%, less any Eligible Tranche 1 PSUs, may become eligible to vest (such portion that actually becomes eligible to vest, as determined by the Board or an authorized committee thereof, the “Eligible Tranche 2 PSUs”), based on the percentile ranking of the TSR of the Company’s common stock, as measured over the four-year period beginning on (and including) the Initial Start Date, relative to the TSR of the other companies that comprise the Index over the same