Martin L. Heimbigner - Dec 9, 2021 Form 4 Insider Report for Porch Group, Inc. (PRCH)

Role
Chief Financial Officer
Signature
/s/ Matthew Cullen, as Attorney-in-fact
Stock symbol
PRCH
Transactions as of
Dec 9, 2021
Transactions value $
-$133,495
Form type
4
Date filed
12/13/2021, 03:01 PM
Next filing
Dec 28, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRCH Common Stock Award $0 +401 +0.95% $0.00 42.6K Dec 9, 2021 Direct F1
transaction PRCH Common Stock Tax liability -$133K -6.15K -14.44% $21.71* 36.4K Dec 9, 2021 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents additional restricted shares of common stock ("Earnout Shares") of Porch Group, Inc. (the "Issuer") issued pursuant to the Earnout Share adjustment mechanics in the Agreement and Plan of Merger, dated as of July 30, 2020, (as amended, the "Merger Agreement"), by and among the Issuer (f/k/a PropTech Acquisition Corporation), Porch.com, Inc. and the other parties thereto.
F2 Represents Earnout Shares forfeited to satisfy tax obligations in connection with the vesting of 10,141 Earnout Shares previously reported on Table I due to Issuer meeting the $20.00 common stock price hurdle set forth in the Merger Agreement and the corresponding vesting of one-third (1/3) of all Earnout Shares issued under the Merger Agreement.