Procore Technologies, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K reports the results of the Annual Meeting of Stockholders held by Procore Technologies, Inc. on June 3, 2022. The record date for the meeting was April 11, 2022, with 135,519,443 shares of common stock outstanding and entitled to vote.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance voting results.
Material Changes and Voting Results
Stockholders voted on two primary proposals:
- Proposal 1: Election of Directors - Three Class I directors were elected to serve until the 2025 annual meeting.
- Erin Chapple: 89,149,682 votes For; 144,596 votes Withheld; 34,084,904 Broker Non-Votes.
- Brian Feinstein: 73,098,096 votes For; 16,196,182 votes Withheld; 34,084,904 Broker Non-Votes.
- Kevin O'Connor: 79,850,901 votes For; 9,443,377 votes Withheld; 34,084,904 Broker Non-Votes.
- Proposal 2: Ratification of Auditors - Stockholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2022.
- Results: 123,295,195 votes For; 64,360 votes Against; 19,627 Abstained; 0 Broker Non-Votes.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary, risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the total number of shares outstanding (135,519,443) against the company's most recent 10-Q or 10-K to confirm capital structure changes.
- Note the significant number of Broker Non-Votes (34,084,904) on the director elections, which indicates shares held in street name where brokers did not receive instructions.
- Confirm the tenure of the newly elected directors (Erin Chapple, Brian Feinstein, Kevin O'Connor) extends through the 2025 annual meeting.
- Review the definitive proxy statement filed on April 22, 2022, for detailed biographies of the directors and the rationale for the auditor appointment.