Matt Ehrlichman - 10 Feb 2022 Form 4 Insider Report for Porch Group, Inc. (PRCH)

Role: CEO, Chairman and Founder, Director, 10%+ Owner
Signature: /s/ Matthew Cullen, as Attorney-in-fact
Issuer symbol: PRCH
Transactions as of: 10 Feb 2022
Transactions value $: -$169,846
Form type: 4
Date filed: 14 Feb 2022, 20:35
Previous filing: 14 Feb 2022
Next filing: 22 Mar 2022
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	+145K	+1.73%	$0.00	8.51M	10 Feb 2022	Direct	F1
transaction	PRCH	Common Stock	Award	$0	+695K	+8.17%	$0.00	9.2M	10 Feb 2022	Direct	F2
transaction	PRCH	Common Stock	Tax liability	-$170K	-18.3K	-0.2%	$9.30^*	9.18M	10 Feb 2022	Direct
holding	PRCH	Common Stock						6.65M	10 Feb 2022	By LLC	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PRCH	Performance-based Restricted Stock Units	Award	$0	+884K		$0.00	884K	10 Feb 2022	Common Stock	884K		Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents a grant of restricted stock units ("RSUs"). Each RSU represents a right to receive one share of Porch Group, Inc. (the "Issuer") common stock upon vesting. The RSUs will vest ratably on a quarterly basis over 30 months, with the vesting period commencing on October 1, 2021. 14,484 RSUs were immediately vested upon grant due to the vesting commencement date of October 1, 2021. The common stock issued upon vesting is subject to a post-vesting holding period of three years from any applicable vesting date, subject to specified exceptions.
F2	Represents a grant of RSUs. Each RSU represents a right to receive one share of the Issuer's common stock upon vesting. The RSUs will vest ratably on a quarterly basis over 36 months, with the vesting period commencing on October 1, 2021. 57,937 RSUs were immediately vested upon grant due to the vesting commencement date of October 1, 2021. The common stock issued upon vesting is subject to a post-vesting holding period of three years from any applicable vesting date, subject to specified exceptions.
F3	Issuer common stock held by West Equities, LLC over which the Reporting Person has sole voting and dispositive power.
F4	Represents a grant of performance-based RSUs ("Market-Condition PRSUs"). Each Market-Condition PRSU represents a right to receive one share of the Issuer's common stock, subject to the achievement of specified prices per share of the Issuer's common stock (for 20 trading days within a 30-consecutive trading-day period) during a 36-month performance period as well as vesting. The Market-Condition PRSUs will vest ratably on a quarterly basis over 30 months, with the vesting period commencing on October 1, 2021. The vested PRSUs and the common stock issued upon vesting and being earned are subject to a post-vesting holding period of three years from any applicable vesting date, subject to specified exceptions.