secwatch.observer — SEC 8-K summary
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Issuer:     PROCORE TECHNOLOGIES, INC. (PCOR)
CIK:        0001611052
Form:       8-K
Filed at:   2025-09-22T23:59:59+00:00
Accession:  0001193125-25-211312
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Procore appoints former Ansys CEO Ajei Gopal as CEO designate; founder Tooey Courtemanche to become Chair
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- Dr. Ajei Gopal named CEO Designate effective Sept 22, 2025; will become President & CEO after Q3 2025 earnings (expected Nov 10, 2025).
- Founder Tooey Courtemanche transitions from CEO to Chair of the Board after CEO start date.
- Gopal previously led Ansys (2017-2025), tripling revenue and leading its $35B sale to Synopsys; joined Procore's Board as Class I director.
- Compensation: $750k base salary, 150% target bonus (up to 200%), $27.5M RSU grant, $27.5M performance-based PSU grant, plus sign-on and severance benefits.
- Company reaffirms Q3 and FY2025 financial guidance as previously announced on July 31, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611052/000119312525211312/0001193125-25-211312-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611052/000119312525211312/d937821d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-211312

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