Ehrlichman Matt 4
4 · Porch Group, Inc. · Filed Apr 9, 2026
Research Summary
AI-generated summary of this filing
Porch (PRCH) 10% Owner Matt Ehrlichman Receives RSUs and Sells Shares
What Happened
- Matt Ehrlichman (identified as a 10% owner) received two types of equity awards on April 7, 2026: 226,355 restricted stock units (RSUs) under the 2026 long-term equity incentive program and 71,474 shares granted for above-target 2025 annual bonus achievement — a total of 297,829 shares awarded (acquired at $0.00 per share).
- On the same date he disposed of 3 lots totaling 71,167 shares in open-market/private sales: 18,983 shares, 24,996 shares and 27,188 shares. The filing reports a weighted-average sale price of $7.19 (individual trades ranged $7.19–$7.27) for aggregate proceeds of about $511,613.
- The three sales were required sell-to-cover transactions (no discretion by the reporting person) to satisfy tax withholding triggered by the vesting/settlement of previously granted RSUs.
Key Details
- Transaction date(s): April 7, 2026 (filed on April 9, 2026 — filing appears timely).
- Awards received: 226,355 RSUs (2026 LTIP; 48‑month vesting schedule) and 71,474 shares for above-target 2025 bonus.
- Shares sold: 71,167 shares in three required sell-to-cover transactions; weighted-average price $7.19; proceeds ≈ $511,613. Reported per-share prices ranged $7.19–$7.27.
- Shares owned after transaction: Not specified in the filing; the filing notes some issuer common stock is held by West Equities, LLC over which Ehrlichman has sole voting and dispositive power.
- Notable footnotes: Sales were mandatory sell-to-cover for tax withholding related to RSU vesting (footnotes F3, F5, F6). The newly granted RSUs vest over 48 months with 25% after 12 months then periodic installments (footnote F1). One grant reflects above-target bonus stock (footnote F2).
Context
- Awards (A) here are equity grants/RSUs — these are not cash purchases and indicate compensation rather than a market purchase signal. Sales (S) were sell-to-cover tax withholdings, a common administrative step when RSUs vest; such sales are generally routine and do not necessarily indicate the insider is reducing an economic stake.
- As a 10% owner, Ehrlichman’s filings reflect both his ownership/control and his compensation-related equity activity; retail investors typically view outright purchases as more informative than routine sell-to-cover transactions.
Insider Transaction Report
Form 4
Ehrlichman Matt
DirectorCEO, CHAIRMAN AND FOUNDER10% Owner
Transactions
- Award
Common Stock
[F1]2026-04-07+226,355→ 17,430,043 total - Award
Common Stock
[F2]2026-04-07+71,474→ 17,501,517 total - Sale
Common Stock
[F3][F4]2026-04-07$7.19/sh−18,983$136,467→ 17,482,534 total - Sale
Common Stock
[F5][F4]2026-04-07$7.19/sh−24,996$179,694→ 17,457,538 total - Sale
Common Stock
[F6][F4]2026-04-07$7.19/sh−27,188$195,452→ 17,430,350 total
Holdings
- 6,416,712(indirect: By LLC)
Common Stock
[F7]
Footnotes (7)
- [F1]Represents a grant of restricted stock units ("RSUs") under the Company's 2026 long-term equity incentive program. Each RSU represents a right to receive one share of the Issuer's common stock upon vesting. 25% of the RSUs shall vest on April 7, 2027, then 1/6th of the remaining RSUs shall vest every 6 months for the remaining 36 months of the 48-month vesting period, subject to the Reporting Person's employment or service with the Issuer as contemplated in the RSU Agreement.
- [F2]At the determination of the Compensation Committee, represents a grant of the Issuer's common stock for the portion of achieving in excess of target performance for the annual bonus program for 2025.
- [F3]This sale was required by the Issuer at its election (without any discretion by the Reporting Person), and represents shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs") that vested on April 4, 2026 on the semi-annual vesting of the Reporting Person's April 4, 2025 RSU grant. The Issuer has adopted this sell-to-cover method as the sole means for plan participants to satisfy tax withholding obligations in connection with the settlement of awards. The RSUs will continue to vest ratably every 6 months over the remaining 48-month vesting period which commenced on April 4, 2025, subject to the Reporting Person's continuous employment or service with the Issuer.
- [F4]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.19 to $7.27 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.
- [F5]This sale was required by the Issuer at its election (without any discretion by the Reporting Person), and represents shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs") that vested on April 5, 2026 on the semi-annual vesting of the Reporting Person's April 7, 2023 RSU grant. The Issuer has adopted this sell-to-cover method as the sole means for plan participants to satisfy tax withholding obligations in connection with the settlement of awards. The RSUs will continue to vest ratably every 6 months over the remaining 48-month vesting period which commenced on April 5, 2023, subject to the Reporting Person's continuous employment or service with the Issuer.
- [F6]This sale was required by the Issuer at its election (without any discretion by the Reporting Person), and represents shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs") that vested on April 5, 2026 on the semi-annual vesting of the Reporting Person's April 5, 2024 RSU grant. The Issuer has adopted this sell-to-cover method as the sole means for plan participants to satisfy tax withholding obligations in connection with the settlement of awards. The RSUs will continue to vest ratably every 6 months over the remaining 48-month vesting period which commenced on April 5, 2024, subject to the Reporting Person's continuous employment or service with the Issuer.
- [F7]Issuer common stock held by West Equities, LLC over which the Reporting Person has sole voting and dispositive power.
Signature
/s/Meghan Silver as Attorney-in-fact for Matthew Ehrlichman|2026-04-09