Matt Ehrlichman - Feb 10, 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
Stock symbol
PRCH
Transactions as of
Feb 10, 2022
Transactions value $
-$169,846
Form type
4
Date filed
2/14/2022, 08:35 PM
Previous filing
Feb 14, 2022
Next filing
Mar 22, 2022

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 Feb 10, 2022 Direct F1
transaction PRCH Common Stock Award $0 +695K +8.17% $0.00 9.2M Feb 10, 2022 Direct F2
transaction PRCH Common Stock Tax liability -$170K -18.3K -0.2% $9.30* 9.18M Feb 10, 2022 Direct
holding PRCH Common Stock 6.65M Feb 10, 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 Feb 10, 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.