Company: PCOR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093502
Chunk: 42

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 42
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 officers’ interests with those of our stockholders by providing a continuing financial incentive to maximize long-term value for our stockholders and by encouraging our executive officers to remain employed with us over the long term. |

| + | We maintain an independent Compensation Committee. Our Compensation Committee consists solely of independent directors. |

| + | Our Compensation Committee has retained an independent third-party compensation consultant for guidance in making compensation decisions. The compensation consultant advises our Compensation Committee on market practices, including identifying a peer group of companies and their compensation practices, so that our Compensation Committee can regularly assess the Company’s individual and total compensation programs against these peer companies, the general competitive marketplace, and other industry data points. |

| + | We balance short-term and long-term equity incentives. The equity awards that we grant to executives typically vest quarterly over four years, with a one-year cliff for new hires. |

| PROCORE TECHNOLOGIES, INC. 2025 PROXY STATEMENT |     | 35 |

Executive Compensation| Compensation Discussion and Analysis

| + | We introduced performance-based equity incentives for our CEO. Beginning in 2024, we awarded performance-based restricted stock units (“PSUs”) to our CEO, with PSUs representing 25% of his total annual equity award. In 2025, we increased the percentage mix of PSUs in our CEO’s annual equity award from 25% to 50% (50% PSUs and 50% RSUs). |

| + | We do not provide our executive officers with tax gross-up payments on any severance, change in control, or other payments related to a termination of employment or change in control. |

| + | We generally do not provide executive fringe benefits or perquisites to our executive officers. |

| + | We do not provide any “single trigger” change in control payments or benefits to our executive officers. |

Advisory Vote on Executive Compensation At the 2024 Annual Meeting, we conducted an annual stockholder advisory vote regarding our executive officer compensation program (commonly referred to as a “say-on-pay” vote), with approximately 94% of votes cast being in favor of the say-on-pay proposal. Given the significant level of stockholder support for the say-on-pay proposal, our Compensation Committee did not make any significant changes to our executive compensation program in response to the outcome of the vote. However, our Compensation Committee intends to monitor and continually evaluate our executive compensation program and to continue to consider the outcome of each year’s say-on-pay vote and our stockholders’