Board member Lam gets annual RSU grant at Porch Group (PRCH)
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Porch Group, Inc. director Rachel Lam received an annual equity grant of 15,940 restricted stock units (RSUs) for board service under the company’s Non-Employee Director Compensation Policy. Each RSU converts into one share of common stock when it vests.
The RSUs vest on the one-year anniversary of the grant date, as long as Lam remains on the board through that date. After vesting, two-thirds of the shares are subject to resale restrictions that lapse in equal parts on the first and second anniversaries of the vesting date. Following this award, Lam directly holds 193,931 shares of Porch Group common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Lam Rachel
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 15,940 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 193,931 shares (Direct, null)
Footnotes (1)
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Key Figures
RSU grant size: 15,940 RSUs
Post-transaction holdings: 193,931 shares
Vesting schedule: 1-year cliff vesting
+2 more
5 metrics
RSU grant size
15,940 RSUs
Annual equity grant for board service
Post-transaction holdings
193,931 shares
Total common shares held directly after grant
Vesting schedule
1-year cliff vesting
RSUs vest on one-year anniversary of grant date
Resale restrictions portion
Two-thirds of vested shares
Portion restricted from sale after vesting
Resale restriction duration
2 years post-vesting
Restrictions expire in equal parts on first and second anniversaries
Key Terms
restricted stock units ("RSUs"), Non-Employee Director Compensation Policy, vesting, resale restrictions, +1 more
5 terms
restricted stock units ("RSUs") financial
"Represents an annual grant of restricted stock units ("RSUs") for service on the Porch Group, Inc."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
Non-Employee Director Compensation Policy financial
"for service on the Porch Group, Inc. (the "Company") board of directors under the Company's Non-Employee Director Compensation Policy."
vesting financial
"Each RSU represents a right to receive one share of Company common stock upon vesting."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
resale restrictions financial
"The shares underlying the RSUs shall have resale restrictions pursuant to which two-thirds of the vested shares underlying the RSUs may not be sold"
Resale restrictions are rules that limit when, how, or to whom a buyer can sell securities or other assets they acquire, like a short lock on a new purchase or a requirement to sell only through certain channels. For investors, these limits affect liquidity and timing — they can delay cashing out, reduce potential buyers, or change the asset’s market value, much like a house with a covenant that restricts future sales.
board of directors financial
"for service on the Porch Group, Inc. (the "Company") board of directors"
The Board of Directors is a group of people chosen by a company's owners to help make big decisions and oversee how the company is run. They act like a team of advisors or managers, making sure the company stays on track and meets its goals. Their choices can influence the company's success and how it grows.
FAQ
What did Porch Group (PRCH) director Rachel Lam report in this Form 4?
Rachel Lam reported receiving an annual grant of 15,940 restricted stock units of Porch Group common stock for board service. These RSUs are part of the company’s Non-Employee Director Compensation Policy and convert into common shares as they vest over time.
When do Rachel Lam’s new Porch Group (PRCH) RSUs vest?
The 15,940 RSUs granted to Rachel Lam vest on the one-year anniversary of the grant date. Vesting requires that she remain a member of Porch Group’s board of directors continuously through that one-year vesting date under the policy terms.
Are there resale restrictions on Rachel Lam’s Porch Group (PRCH) RSUs?
Yes. After vesting, two-thirds of the shares underlying Rachel Lam’s RSUs cannot be sold immediately. These resale restrictions expire in equal increments on the first and second anniversaries of the vesting date, gradually allowing more shares to become freely tradable.
What does each RSU granted to Rachel Lam by Porch Group (PRCH) represent?
Each RSU granted to Rachel Lam represents a right to receive one share of Porch Group common stock upon vesting. She does not pay a purchase price for these shares; instead, they are issued as part of her compensation for serving on the board.
Is Rachel Lam’s Porch Group (PRCH) RSU grant part of a standard director program?
The filing states this is an annual RSU grant under Porch Group’s Non-Employee Director Compensation Policy. That indicates it is a standard equity component of compensation for outside directors, rather than a one-time or special award unique to this director.