Company: PCOR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093502
Chunk: 53

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 53
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 equal to the unweighted average closing price of our common stock on the NYSE over the 15-trading day period ending on the third business day prior to the date of determination. |

| (3) | The number of PSUs granted for each of the two goals was calculated using the target equity value for each goal divided by an amount equal to the unweighted average closing price of our common stock on the NYSE over the 15-trading day period ending on the third business day prior to the date of determination. |

| 42 |     | PROCORE TECHNOLOGIES, INC. 2025 PROXY STATEMENT |

Executive Compensation| Compensation Discussion and Analysis The target value of the equity awards for each of the named executive officers listed above was determined based on the market data for each named executive officer’s role as well as each officer’s unvested equity and performance. With respect to the RSU awards, 1/16th of the shares underlying the RSU awards vest on each quarterly Company Vesting Date beginning with the first Company Vesting Date following the vesting commencement date of February 20, 2024, subject to such named executive officer’s continuous service through each such vesting date. In 2024, our Compensation Committee introduced performance-based equity incentives as a component of our CEO’s annual equity award. The 2024 equity award to our CEO was composed of 75% RSUs and 25% PSUs. 75% of the PSUs were eligible to vest based on the attainment of a revenue goal and 25% of the PSUs were eligible to vest based on the attainment of a non-GAAP operating margin goal, each of which was set in early 2024. Our Compensation Committee sought to set rigorous and ambitious performance goals that had to be met in order for the PSUs to be eligible to vest at target for each metric. In addition, the PSUs tied to each metric contained a threshold, below which no PSUs would become eligible to vest with respect to such metric. The number of PSUs eligible to vest based on attainment of the revenue goal ranged from 0% to 200% of target, and was subject to a threshold requiring attainment of at least 98.5% of target (the “Revenue Threshold”). The number of PSUs eligible to vest based on attainment of the non-GAAP operating margin goal ranged from 0% to 150% of target, and was subject to a threshold requiring attainment of at least 73.8% of