Matthew Neagle - 09 Dec 2021 Form 4 Insider Report for Porch Group, Inc. (PRCH)

Role
Chief Operating Officer
Signature
/s/ Matthew Cullen, as Attorney-in-fact
Issuer symbol
PRCH
Transactions as of
09 Dec 2021
Net transactions value
-$145,175
Form type
4
Filing time
13 Dec 2021, 15:01:46 UTC
Previous filing
09 Dec 2021
Next filing
16 Dec 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRCH Common Stock Award $0 +542 +0.12% $0.000000 466,426 09 Dec 2021 Direct F1
transaction PRCH Common Stock Tax liability $145,175 -6,687 -1.4% $21.71* 459,739 09 Dec 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 15,370 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.