Shawn Tabak - Dec 1, 2023 Form 4 Insider Report for Porch Group, Inc. (PRCH)

Role
CHIEF FINANCIAL OFFICER
Signature
/s/ Matthew Cullen as Attorney-in-fact for Shawn Tabak
Stock symbol
PRCH
Transactions as of
Dec 1, 2023
Transactions value $
-$84,474
Form type
4
Date filed
12/5/2023, 08:16 PM
Previous filing
Apr 7, 2023
Next filing
Mar 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PRCH Common Stock Tax liability -$84.5K -50.3K -26.93% $1.68 136K Dec 1, 2023 Direct F1, F2
transaction PRCH Common Stock Award $0 +231K +169.19% $0.00 367K Dec 1, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares withheld to satisfy tax withholding obligations upon vesting of the Reporting Person's December 1, 2022 restricted stock unit ("RSU") grant, previously made pursuant to the Reporting Person's RSU on hire award (the "RSU On Hire Award"). The RSU On Hire Award has an aggregate value of $900,000 to be granted in four (4) equal installments annually under the Issuer's 2020 Stock Incentive Plan.
F2 Includes 41,328 RSUs previously granted to the Reporting Person and previously disclosed on Form 4 dated April 7, 2023. 25% of these RSUs shall vest on April 5, 2024, then 1/6th of the remaining RSUs shall vest every 6 months for the next 36 months, subject to the Reporting Person's employment or service with the Issuer as contemplated in the RSU Award Agreement.
F3 Represents the second annual grant of 25% of the RSU On Hire Award. Each RSU represents a right to receive one share of the Issuer's common stock upon the vesting in equal installments every six months from the date of grant.