Porch Group (PRCH) director granted 15,940 RSUs as annual board compensation
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Porch Group, Inc. director Maurice Tulloch received an annual equity compensation grant in the form of 15,940 restricted stock units (RSUs) for his service on the company’s board. The grant carries a price of $0.00 per share, reflecting that it is a board compensation award rather than a market purchase.
Each RSU converts into one share of Porch Group common stock when it vests. The RSUs will vest on the one-year anniversary of the grant date, as long as Tulloch remains a member of the board through that date. After this transaction, he directly holds 141,706 shares of Porch Group common stock.
The award also includes resale restrictions. On the vesting date, two-thirds of the vested shares cannot be sold immediately. Those restrictions then lapse in equal portions on the first and second anniversaries of the Annual Grant Vesting Date, gradually allowing full liquidity of the shares over time.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
TULLOCH MAURICE
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 15,940 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 141,706 shares (Direct, null)
Footnotes (1)
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Key Figures
RSU grant size: 15,940 shares
Grant price: $0.00 per share
Post-transaction holdings: 141,706 shares
+3 more
6 metrics
RSU grant size
15,940 shares
Annual RSU award for board service
Grant price
$0.00 per share
Equity compensation, not a cash purchase
Post-transaction holdings
141,706 shares
Common stock held directly after grant
Vesting period
1 year
RSUs vest on one-year anniversary of grant date
Resale restriction portion
Two-thirds of vested shares
Initially restricted from sale after vesting
Restriction lapse schedule
2 years
Resale limits expire in equal parts on first and second anniversaries
Key Terms
restricted stock units, RSUs, Non-Employee Director Compensation Policy, Annual Grant Vesting Date, +1 more
5 terms
restricted stock units financial
"Represents an annual grant of restricted stock units ("RSUs") for service"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
RSUs financial
"Each RSU represents a right to receive one share of Company common stock"
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
Non-Employee Director Compensation Policy financial
"under the Company's Non-Employee Director Compensation Policy"
Annual Grant Vesting Date financial
"will vest on the one-year anniversary of the grant date ("Annual Grant Vesting Date")"
resale restrictions financial
"The shares underlying the RSUs shall have resale restrictions pursuant to which two-thirds"
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.
FAQ
What insider transaction did Porch Group (PRCH) report for Maurice Tulloch?
Porch Group reported that director Maurice Tulloch received a grant of 15,940 restricted stock units as annual compensation for board service. These RSUs represent rights to future common shares rather than an open-market stock purchase.
When do Maurice Tulloch’s new Porch Group (PRCH) RSUs vest?
The RSUs granted to Maurice Tulloch vest on the one-year anniversary of the grant date. Vesting is conditioned on him remaining a member of Porch Group’s board of directors through this Annual Grant Vesting Date.
What does each Porch Group (PRCH) RSU granted to Maurice Tulloch represent?
Each restricted stock unit granted to Maurice Tulloch represents the right to receive one share of Porch Group common stock upon vesting. The grant was issued under the company’s Non-Employee Director Compensation Policy for board members.