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Tax-driven sale: Porch Group (PRCH) CEO offloads 121K shares

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Porch Group, Inc. CEO Matt Ehrlichman reported a required sale of 121,242 shares of Common Stock on April 21, 2026. The shares were sold at a weighted average price of $8.1156 per share in multiple trades.

The sale was mandated by the company under a sell-to-cover method to satisfy tax withholding on performance-based restricted stock units that vested on April 7, 2026, with settlement occurring in several transactions over approximately 45 days between April 7, 2026 and May 21, 2026.

After this transaction, Ehrlichman directly held 16,928,071 shares of Common Stock and indirectly held 6,416,712 shares through West Equities, LLC, over which he has sole voting and dispositive power.

Positive

  • None.

Negative

  • None.
Insider Ehrlichman Matt
Role CEO, CHAIRMAN AND FOUNDER
Sold 121,242 shs ($984K)
Type Security Shares Price Value
Sale Common Stock 121,242 $8.1156 $984K
holding Common Stock -- -- --
Holdings After Transaction: Common Stock — 16,928,071 shares (Direct, null); Common Stock — 6,416,712 shares (Indirect, By LLC)
Footnotes (1)
  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 $7.92 to $8.48 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.
Shares sold 121,242 shares Open-market sale on April 21, 2026
Weighted average sale price $8.1156 per share Common Stock sale on April 21, 2026
Sale price range $7.92–$8.48 per share Multiple transactions within this range
Direct holdings after transaction 16,928,071 shares Common Stock directly owned after April 21, 2026 sale
Indirect holdings via LLC 6,416,712 shares Common Stock held by West Equities, LLC
Net shares sold 121,242 shares Net buy/sell direction marked as net-sell
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 ("PRSU") financial
"tax withholding obligations in connection with the settlement of performance-based restricted stock unit ("PRSU") awards that vested on April 7, 2026"
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.
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.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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).
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*
Ehrlichman Matt
(Last)(First)(Middle)
411 FIRST AVENUE SOUTH
SUITE 501
(Street)
SEATTLE WASHINGTON 98104
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Porch Group, Inc. [ PRCH ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirectorX10% Owner
XOfficer (give title below)Other (specify below)
CEO, CHAIRMAN AND FOUNDER
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/21/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock04/21/2026S(1)121,242D$8.1156(2)16,928,071D
Common Stock6,416,712I(3)By LLC
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
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.
2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.92 to $8.48 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. Issuer common stock held by West Equities, LLC over which the Reporting Person has sole voting and dispositive power.
Remarks:
/s/Meghan Silver as Attorney-in-fact for Matthew Ehrlichman04/23/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Porch Group (PRCH) CEO Matt Ehrlichman report?

Matt Ehrlichman reported a sale of 121,242 Porch Group shares. The Common Stock sale occurred on April 21, 2026 at a weighted average price of $8.1156 per share, executed in multiple trades across a price range from $7.92 to $8.48.

Why did the Porch Group (PRCH) CEO sell 121,242 shares?

The sale was required to cover tax withholding obligations. Porch Group elected a sell-to-cover method as the sole way for plan participants to pay taxes on performance-based RSUs that vested on April 7, 2026, leading to this mandated disposition.

How many Porch Group (PRCH) shares does the CEO hold after the transaction?

After the sale, Matt Ehrlichman held 16,928,071 shares directly. He also indirectly held 6,416,712 additional shares of Common Stock through West Equities, LLC, where he has sole voting and dispositive power, according to the filing’s ownership disclosure.

What price range did the Porch Group (PRCH) CEO’s shares sell for?

The reported weighted average sale price was $8.1156 per share. Footnotes state the 121,242 shares were sold in multiple transactions, with individual trade prices ranging from $7.92 to $8.48 per share during the sale process.

What is the role of West Equities, LLC in the Porch Group (PRCH) filing?

West Equities, LLC holds Porch Group shares for the CEO. The filing notes 6,416,712 shares of issuer common stock are held by West Equities, LLC, and Matt Ehrlichman has sole voting and dispositive power over these indirectly owned shares.

Were the Porch Group (PRCH) CEO’s share sales discretionary market sales?

The filing describes the sale as required by the issuer. It states the company elected a sell-to-cover method, leaving no discretion to the reporting person, and using share sales as the sole means to satisfy related tax withholding obligations on vested PRSUs.