Matt Ehrlichman - Dec 9, 2021 Form 4/A - Amendment Insider Report for Porch Group, Inc. (PRCH)

Role
CEO, Chairman and Founder, Director, 10%+ Owner
Signature
/s/ Matthew Cullen, as Attorney-in-fact
Stock symbol
PRCH
Transactions as of
Dec 9, 2021
Transactions value $
-$3,408,774
Form type
4/A - Amendment
Date filed
2/14/2022, 08:33 PM
Date Of Original Report
Dec 13, 2021
Previous filing
Nov 19, 2021
Next filing
Feb 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRCH Common Stock Award $0 +8.61K +0.1% $0.00 8.52M Dec 9, 2021 Direct F1, F2, F3
transaction PRCH Common Stock Tax liability -$3.41M -157K -1.84% $21.71* 8.36M Dec 9, 2021 Direct F2, F3, F4
transaction PRCH Common Stock Award $0 +5.63K +0.08% $0.00 6.65M Dec 9, 2021 See Footnote F1, F2, F3, F5
* 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 The original Form 4, filed on December 13, 2021 (the "Original Form 4"), is being amended by this Form 4 amendment solely to correct the following inadvertent administrative errors made in calculating the number of shares beneficially owned by the reporting person as a result of each of three transactions listed on the Original Form 4. After the first transaction, the Original Form 4 listed 6,648,493 shares as being directly beneficially owned by the reporting person when it should have listed 8,518,317 as being directly beneficially owned by the reporting person following that transaction.
F3 After the second transaction, the Original Form 4 listed 6,491,479 shares as being directly beneficially owned by the reporting person when it should have listed 8,361,303 as being directly beneficially owned by the reporting person following that transaction. After the third transaction, the Original Form 4 listed 8,515,332 shares as being indirectly beneficially owned by the reporting person when it should have listed 6,645,508 as being indirectly beneficially owned by the reporting person following that transaction.
F4 Represents Earnout Shares forfeited to satisfy tax obligations in connection with the vesting of 526,517 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.
F5 These shares of Common Stock are held by West Equities, LLC over which the Reporting Person has sole voting and dispositive power.