Posted: 05/12/2025 03:28 am
Procore Technologies, Inc., a prominent player in the services-prepackaged software industry, has exhibited notable trends in executive compensation amidst a landscape of fluctuating financial projections and stock performance. A closer examination of recent data reveals a nuanced picture of how compensation is allocated to its key executives, reflecting their strategic roles within the company.
In 2024, Craig F. Courtemanche Jr., serving as the President, CEO, and Chair of the Board at Procore, received a total compensation package of approximately $16.1 million. This remuneration was heavily influenced by a stock award valued at $15.4 million, positioning it as the predominant component of his financial rewards. Meanwhile, his base salary stood at $567,558, supplemented by an incentive plan compensation of $107,209 and a modest $5,000 attributed to all other compensation. Significantly, no bonus or option awards were reported by the company for Courtemanche’s compensation that year^1^.
The 2023 report sheds light on Benjamin C. Singer, the Chief Legal Officer and Corporate Secretary. His total compensation amounted to approximately $3.9 million, driven largely by a substantial stock award of over $3.2 million. Singer’s salary during this period reached $392,500, alongside an incentive plan compensation of $253,658 and $12,904 allocated for additional compensation. Much like Courtemanche, Singer did not receive any bonus or option awards^2^.
Joy D. Durling, the Chief Data Officer in 2022, garnered a total compensation package of roughly $8.1 million. Her earnings were amplified by a $7.3 million stock award, accompanying a base salary of $297,917 and a significant bonus of $200,000 — a rare addition among the highlighted executives. This structure mirrors a similar pattern where stock awards are pivotal to executive remuneration^3^.
Notably, Dennis Lyandres, Chief Revenue Officer in 2021, received a total compensation of over $5.0 million. This included a $4.3 million stock award, which overwhelmingly shaped his total financial package. His base salary was recorded at $381,250, complemented by an incentive plan compensation of $383,600, without the presence of bonus or option awards^4^.
These compensation structures underscore Procore's strategic emphasis on aligning executive incentives with shareholder interests through stock awards, a common practice in tech and software industries. The company’s financial narrative continues with its Q1 2025 earnings surpassing estimates, posting earnings of $0.23 per share compared to the expected $0.17, albeit in a period marked by revised expectations for earnings decline^5^ ^6^. Despite these financial oscillations, Procore's strong growth trajectory, especially in revenue and customer expansion, persists as seen in its recent quarter where it achieved a 16% year-over-year increase in revenue to $302 million^7^.
Procore's stock closed at $65.63, reflecting a 1.16% drop from the previous close, showcasing market volatility amidst these developments. With a P/E ratio at an unattractive -76.31 due to negative earnings per share, the company faces typical growth-company challenges in balancing profitability and market expectations^8^. As Procore continues its trajectory, insider compensation remains indicative of its broader strategic imperatives in achieving sustained growth and market leadership.
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1. Procore Technologies, Inc. President, CEO, and Chair of the Board Compensation, 2024. Retrieved from [SEC filing](https://www.sec.gov/Archives/edgar/data/1611052/000119312525093502/0001193125-25-093502-index.htm).
2. Procore Technologies, Inc. Chief Legal Officer and Corporate Secretary Compensation, 2023. Retrieved from [SEC filing](https://www.sec.gov/Archives/edgar/data/1611052/000119312524113965/0001193125-24-113965-index.htm).
3. Procore Technologies, Inc. Chief Data Officer Compensation, 2022. Retrieved from [SEC filing](https://www.sec.gov/Archives/edgar/data/1611052/000119312523118562/0001193125-23-118562-index.htm).
4. Procore Technologies, Inc. Chief Revenue Officer Compensation, 2021. Retrieved from [SEC filing](https://www.sec.gov/Archives/edgar/data/1611052/000119312522115198/0001193125-22-115198-index.htm).
5. Procore Technologies, Inc. Q1 2025 Earnings Call. Retrieved from [Seeking Alpha](https://seekingalpha.com/article/4780935-procore-technologies-inc-pcor-q1-2025-earnings-call-transcript).
6. Procore Technologies Surpasses Q1 Earnings and Revenue Estimates. Retrieved from [Zacks](https://www.zacks.com/stock/news/2460693/procore-technologies-pcor-surpasses-q1-earnings-and-revenue-estimates?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|yseop_template_4-2460693).
7. Procore Technologies: Remain Buy Rated On Growth Acceleration Beyond FY25. Retrieved from [Seeking Alpha](https://seekingalpha.com/article/4759111-procore-technologies-stock-remain-buy-rated-growth-acceleration-beyond-fy25).
8. Procore Technologies, Inc. (PCOR) Current Stock Performance. Retrieved from public dataset.
