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PROCORE REPORTS EXEC PAY Featured

Procore Technologies, which went public a year ago, has reported compensation for its named executive officers for the first time. The construction software company recently filed the information with the SEC for three executives including CEO Craig “Toohy” F. Courtemanche, Jr.

Courtmanche received $10.6 million for the year ended December 31, down 24.9 percent from $15.2 million in 2020.. The decline reflected the inclusion of a sale of  375,000 shares of common stock in December 2020 which represented the overwhelming amount of $3.3 million in the category “all other compensation”. The bulk of pay in both 2021 and 2020 came from stock awards which dropped to $9.7 million from $10.3 million. Similarly, revenue for chief revenue officer Dennis Lyandres fell 26.3 percent to $5.1 million from $6.9 million with the overwhelming amount of the decline stemming from selling shares in December 2020. CFO Paul Lyandres, who was a named executive for the first time, received $4.5 million in 2021 compensation, most coming from $4.3 million in stock awards. 

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