PRCH Form 4: Rachel Lam disposes 25K shares under 10b5-1 plan

Rhea-AI Filing Summary

Rachel Lam, a director of Porch Group, Inc. (PRCH), sold 25,000 shares of the company's common stock on 08/06/2025 at a weighted average price of $15.2131 per share. After the sale she beneficially owned 177,991 shares. The disposition was reported on a Form 4 and executed under a pre-established Rule 10b5-1 trading plan.

The 10b5-1 plan was entered on March 14, 2025, is scheduled to terminate on March 16, 2026, and authorizes the sale of up to 50,000 shares to help satisfy tax obligations arising from board-service share vesting. Trading under the plan did not commence until at least 90 days after plan entry, and the filing was signed by an attorney-in-fact on behalf of Ms. Lam.

Positive

• Sale executed under a Rule 10b5-1 plan, indicating a pre-established, documented trading arrangement
• Plan includes cooling-off period (trading did not commence until at least 90 days after plan entry)
• Sale explicitly tied to tax obligations arising from shares received for board service
• Plan limits total sales to 50,000 shares and this transaction was 25,000 shares, within that cap

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine, pre-planned director sale under a 10b5-1 plan to satisfy tax obligations; procedural safeguards appear observed.

The transaction is a controlled disposition under a Rule 10b5-1 plan entered March 14, 2025, with a cooling-off period of at least 90 days before execution. The plan caps sales at 50,000 shares and this filing reports the sale of 25,000 shares at a weighted average of $15.2131, leaving the director with 177,991 shares. From a governance perspective, use of a documented 10b5-1 plan demonstrates adherence to an established trading framework and reduces the appearance of opportunistic trading.

Securities Analyst

TL;DR: Insider sold 25,000 shares (~12.3% of prior holdings) under a planned program; transaction size is modest relative to likely total float.

Based on reported figures, Ms. Lam held 202,991 shares before the sale and 177,991 after, implying the sale represented roughly 12.3% of her pre-sale holdings. The weighted average sale price reported is $15.2131, with individual trade prices ranging $15.01–$15.35. The sale is explicitly tied to tax obligations from vested board compensation and executed under a pre-established plan, which typically reduces informational asymmetry for investors. The filing contains no indication of other material events.

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
Estimated average burden
hours per response:			0.5

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

X

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^*

Lam Rachel

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/06/2025

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	08/06/2025		S(1)		25,000	D	$15.2131(2)	177,991	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

Explanation of Responses:

1. Represents a sale pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person on March 14, 2025 (the "10b5-1 Plan"). The 10b5-1 Plan is scheduled to terminate on March 16, 2026, and covers the sale of up to an aggregate of 50,000 shares of the Issuer's common stock to help satisfy tax obligations upon the vesting of shares received for service on the Company's board of directors. Trading under the 10b5-1 Plan did not commence until at least 90 days following the date on which the plan was entered.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.01 to $15.35 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.

Remarks:

	/s/ Matthew Cullen as Attorney-in-fact for Rachel Lam	08/08/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider activity did Porch Group (PRCH) report on this Form 4?

The filing reports that director Rachel Lam sold 25,000 shares of Porch Group common stock under a Rule 10b5-1 plan.

At what price were the PRCH shares sold and what was the weighted average?

The shares were sold at prices ranging from $15.01 to $15.35 per share, with a reported weighted average sale price of $15.2131.

How many PRCH shares does Rachel Lam own after the reported transaction?

Following the sale, the reporting person beneficially owned 177,991 shares.

Was the sale part of a pre-arranged trading plan for PRCH insider shares?

Yes. The sale was made pursuant to a Rule 10b5-1 trading plan entered March 14, 2025, which authorizes up to 50,000 shares in sales and terminates March 16, 2026.

Why did the reporting person sell PRCH shares under the 10b5-1 plan?

The plan covers sales to help satisfy tax obligations arising from the vesting of shares received for service on the company’s board of directors.