Porch Group Insider Sale at $18.69 Funds Option Exercises, Ownership 1.02M

Rhea-AI Filing Summary

Matthew Neagle, Chief Operating Officer of Porch Group, Inc. (PRCH), reported transactions on Form 4 showing both sales and option exercises. The filing discloses a sale of 55,000 shares on 09/09/2025 at a weighted-average price of $18.6903, reducing his direct common stock holdings to 999,784 shares. On 09/10/2025 he exercised several stock options and received/was issued 20,319 shares across multiple option grants (exercise prices $2.73, $3.30, $13.23 and $2.07), increasing direct holdings to 1,020,902 shares after those transactions. The filer states proceeds from the sale were used to fund option exercises. The report was signed by an attorney-in-fact on 09/11/2025.

Positive

• Transparency: Filing discloses weighted-average sale price range and offers to provide detailed breakdowns on request.
• Vesting documented: Vesting schedules for each option award are provided, clarifying the exercisability of options.

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider sold 55,000 shares and used proceeds to exercise options, modest net increase in shares held to 1,020,902; transaction appears routine.

These transactions combine a sizable single-sale of 55,000 shares at a weighted-average $18.6903 with near-term option exercises that issued 20,319 underlying shares across multiple grants. The sale reduced holdings to 999,784 before option exercises increased direct ownership to 1,020,902 shares. The filing explicitly states sale proceeds were used to fund exercises. From an investor-materiality perspective, this is a disclosure of insider liquidity and option monetization rather than a change in control or new compensation arrangement.

Corporate Governance Expert

TL;DR: The Form 4 details standard insider selling and option exercise activity with clear vesting descriptions and no new derivative grants.

The filing provides vesting schedules for each option award and shows exercises of previously granted options (no new grants or modifications disclosed). Ownership remains direct and substantial (over one million shares post-transactions). The report is properly executed via attorney-in-fact and includes required explanatory footnotes and weighted-average sale price disclosure, aligning with Section 16 reporting expectations.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Neagle Matthew

(Last) (First) (Middle)

411 FIRST AVENUE SOUTH

SUITE 501

(Street)

SEATTLE WA 98104

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Porch Group, Inc. [ PRCH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/09/2025		S(1)		55,000	D	$18.6903(2)	999,784	D
Common Stock	09/10/2025		M		1,278	A	$2.73	1,001,062	D
Common Stock	09/10/2025		M		4,578	A	$3.3	1,005,640	D
Common Stock	09/10/2025		M		7,045	A	$3.3	1,012,685	D
Common Stock	09/10/2025		M		7,674	A	$13.23	1,020,359	D
Common Stock	09/10/2025		M		252	A	$2.07	1,020,611	D
Common Stock	09/10/2025		M		291	A	$2.07	1,020,902	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$2.73	09/10/2025		M			1,278	(3)	08/23/2028	Common Stock	1,278	$0	0	D
Stock Option (right to buy)	$3.3	09/10/2025		M			4,578	(4)	06/04/2030	Common Stock	4,578	$0	1,291	D
Stock Option (right to buy)	$3.3	09/10/2025		M			7,045	(5)	06/04/2030	Common Stock	7,045	$0	0	D
Stock Option (right to buy)	$13.23	09/10/2025		M			7,674	(6)	04/21/2031	Common Stock	7,674	$0	4,969	D
Stock Option (right to buy)	$2.07	09/10/2025		M			252	(7)	06/05/2028	Common Stock	252	$0	12	D
Stock Option (right to buy)	$2.07	09/10/2025		M			291	(7)	06/05/2028	Common Stock	291	$0	0	D

Explanation of Responses:

1. The reporting person used some of the proceeds from the sale of the issuer's shares of common stock to fund the exercise of the options disclosed in Table II.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.65 to $18.76 per share. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The stock options vested as follows: (i) 25% of the award vested on July 1, 2019 and (ii) the remainder of the award vested in 36 equal monthly installments thereafter.

4. The stock options vested as follows: (i) 25% of the award vested on September 1, 2020, with 25% of the award vesting in 6 equal monthly installments thereafter and (ii) 25% of the award vested March 1, 2021, with the remaining 25% of the award vesting in 36 equal monthly installments thereafter.

5. The stock options vested as follows: (i) 25% of the award vested March 1, 2020, (ii) 25% of the award vested on March 1, 2021, and (iii) the remainder of the award vested in 36 equal monthly installments thereafter.

6. The stock options vested as follows: (i) 25% of the award vested December 31, 2020, (ii) 25% of the award vested on December 31, 2021, and (iii) the remainder of the award vested in 35 equal monthly installments thereafter.

7. The stock options vested as follows: (i) 25% of the award vested on April 1, 2019 and (ii) the remainder of the award vested in 36 equal monthly installments thereafter.

Remarks:

	/s/Matthew Cullen as Attorney-in-fact for Matthew Neagle	09/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What transactions did PRCH insider Matthew Neagle report on Form 4?

He reported a sale of 55,000 shares on 09/09/2025 at a weighted-average price of $18.6903 and the exercise/issuance of 20,319 shares from stock options on 09/10/2025.

How many shares did Matthew Neagle own after the reported transactions?

After the sale and subsequent option exercises, he beneficially owned 1,020,902 shares directly.

Did the filing state how the option exercises were funded?

Yes. The reporting person used some proceeds from the sale of common stock to fund the exercises disclosed in Table II.

What were the exercise prices of the options exercised on 09/10/2025?

Options exercised had exercise prices of $2.73, $3.30, $13.23 and $2.07 per share.

Who signed the Form 4 and when was it filed?

The form was signed by Matthew Cullen as Attorney-in-fact for Matthew Neagle on 09/11/2025.