Company: PCOR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021898
Chunk: 77

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 77
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 or reasonably estimable.

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

10.STOCKHOLDERS' EQUITY

2021 Equity Incentive PlanIn May 2021, the Company’s board of directors (the “Board”) adopted, and the stockholders approved, the 2021 Equity Incentive Plan (the “2021 Plan”) with the purpose of granting stock-based awards, including stock options, stock appreciation rights, restricted stock awards (“RSAs”), RSUs, PSUs, and other forms of awards, to employees, directors, and consultants. As of December 31, 2024, a total of 51,863,260 shares of common stock were authorized for issuance under the 2021 Plan. The number of shares of the Company’s common stock reserved for issuance under the 2021 Plan automatically increases on January 1 of each calendar year, starting on January 1, 2022 through January 1, 2031, in an amount equal to either (i) 5% of the total number of shares of the Company’s common stock outstanding on December 31 of the fiscal year before the date of each automatic increase, or (ii) a lesser number of shares determined by the Board prior to the applicable January 1. Accordingly, on January 1, 2025, the number of shares of common stock that may be issued under the 2021 Plan increased by an additional 7,492,656 shares. As a result, as of March 31, 2025, a total of 59,355,916 shares of common stock are authorized for issuance under the 2021 Plan. As of March 31, 2025, a total of 39,766,423 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 three months ended March 31, 2025:Number ofSharesWeighted-AverageExercise PriceOutstanding at December 31, 20243,152,158$12.29 Exercised(149,650)15.72 Outstanding at March 31, 20253,002,50812.12 Exercisable at March 31, 20253,002,508$12.12 As of