Company: PCOR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093502
Chunk: 46

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 46
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 of equity awards to our executive officers. Our Compensation Committee does not delegate authority to approve executive officer compensation. From time to time, various other members of management and other employees, as well as outside advisors or consultants, may be invited by our Compensation Committee to make presentations, provide financial or other background information or advice, or otherwise participate in our Compensation Committee meetings. Role of Compensation Consultant Under its charter, our Compensation Committee has the right to retain and obtain the advice of compensation consultants, outside legal counsel, and other advisers. During the fiscal year ended December 31, 2024, our Compensation Committee retained Compensia to provide it with competitive market information, analysis, guidance on the compensation of executive hires, and other advice relating to executive compensation on an ongoing basis. Compensia was engaged directly by our Compensation Committee to, among other things, assist in developing an appropriate group of peer companies to help us assess and determine the appropriate level of overall compensation for our executive officers and non-employee directors as well as to assess each separate element of executive officer and non-employee director compensation, with a goal of ensuring that the compensation we offer to our executive officers and non-employee directors is competitive, fair, and appropriately structured. Compensia does not provide any non-compensation-related services to us. Our Compensation Committee has analyzed whether the work of Compensia as compensation consultant raises any conflicts of interest, taking into account the relevant factors in accordance with SEC guidelines and NYSE listing standards. Based on its analysis, our Compensation Committee has determined that the work of Compensia and the individual compensation advisors employed by Compensia does not create any conflicts of interest pursuant to SEC rules or NYSE listing standards. Use of Competitive Market Compensation Data Our Compensation Committee believes that it is important to be informed of competitive market data on executive compensation levels and practices as part of its compensation deliberations for our executive officers, including our named executive officers. In August 2023, our Compensation Committee, in consultation with Compensia, developed and approved an updated peer group that would be used for 2024 compensation decisions. As part of the peer selection process, our Compensation Committee primarily considered publicly traded cloud-based software and other software companies headquartered in the U.S. that had revenue over the preceding four quarters ended June 2023, between 0.4x and 2.5x our revenue for such period and had a 30-day average market capitalization between 0.33x and 3.0x our market capitalization. In addition,