Porch Group (PRCH) CEO tax sell-to-cover of 117,385 shares reported
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Porch Group, Inc. director and CEO Matt Ehrlichman reported an automatic sale of 117,385 shares of Common Stock. The shares were sold at a weighted average price of $10.4308 per share in an open-market transaction required by the company under a sell-to-cover method.
The sale was the mandated way to satisfy tax withholding obligations tied to performance-based restricted stock units that vested on April 7, 2026. After this sale, Ehrlichman holds 16,447,437 shares directly and 6,416,712 shares indirectly through West Equities, LLC, where he has sole voting and dispositive power.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 117,385 shares ($1,224,419)
Net Sell
2 txns
Insider
Ehrlichman Matt
Role
CEO, CHAIRMAN AND FOUNDER
Sold
117,385 shs ($1.22M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 117,385 | $10.4308 | $1.22M |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 16,447,437 shares (Direct, null);
Common Stock — 6,416,712 shares (Indirect, By LLC)
Footnotes (1)
- This sale was required by the Issuer at its election (without any discretion by the Reporting Person) under a sell-to-cover method as the sole means for plan participants to satisfy tax withholding obligations in connection with the settlement of performance-based restricted stock unit ("PRSU") awards that vested on April 7, 2026. As previously disclosed, the Issuer has confirmed its intent to settle vested shares of Common Stock for these PRSU awards in several transactions over approximately 45 days, between April 7, 2026 and May 21, 2026 to reduce market impact. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $10.12 to $10.78 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. Issuer common stock held by West Equities, LLC over which the Reporting Person has sole voting and dispositive power.
Key Figures
Shares sold: 117,385 shares
Weighted average sale price: $10.4308 per share
Sale price range: $10.12–$10.78 per share
+4 more
7 metrics
Shares sold
117,385 shares
Open-market sale required for tax withholding
Weighted average sale price
$10.4308 per share
Reported price for the 117,385 sold shares
Sale price range
$10.12–$10.78 per share
Multiple transactions within this price range
Direct holdings after transaction
16,447,437 shares
Common Stock directly owned after the sale
Indirect holdings via LLC
6,416,712 shares
Common Stock held by West Equities, LLC
PRSU vesting date
April 7, 2026
Vesting of performance-based RSU awards
Settlement period for PRSU shares
April 7–May 21, 2026
Several transactions over ~45 days
Key Terms
sell-to-cover, performance-based restricted stock unit, weighted average price, tax withholding obligations, +1 more
5 terms
sell-to-cover financial
"This sale was required by the Issuer at its election (without any discretion by the Reporting Person) under a sell-to-cover method"
Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.
performance-based restricted stock unit financial
"in connection with the settlement of performance-based restricted stock unit ("PRSU") awards that vested on April 7, 2026"
A performance-based restricted stock unit is a promise of company shares given to an employee that only becomes actual stock if specific performance targets are met and any required time at the company is completed. For investors, these awards matter because they can dilute existing shares when earned and signal management’s confidence or the company’s expected future performance, much like a bonus cheque that only clears when pre-set goals are reached.
weighted average price financial
"The reported price in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
tax withholding obligations financial
"sole means for plan participants to satisfy tax withholding obligations in connection with the settlement of performance-based restricted stock unit"
dispositive power financial
"Issuer common stock held by West Equities, LLC over which the Reporting Person has sole voting and dispositive power."
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
FAQ
What insider transaction did Porch Group (PRCH) report for Matt Ehrlichman?
Porch Group reported that CEO Matt Ehrlichman sold 117,385 shares of Common Stock. The sale was an open-market transaction required to cover tax withholding obligations from vested performance-based restricted stock units granted under the company’s equity compensation plan.