Ehrlichman Matt 4

What Happened
Matt Ehrlichman, reported as a 10% owner of Porch Group (PRCH), disposed of 123,518 shares on April 24, 2026 in a sale (sell-to-cover). The shares were sold at a weighted average price of $7.68, generating approximately $948,878 in proceeds. This was a required sell-to-cover to satisfy tax withholding on vested performance-based restricted stock units (PRSUs), not a discretionary open-market sale indicating a trading decision.

Key Details

• Transaction date: 2026-04-24 (Form 4 filed 2026-04-28 — timely within SEC two-business-day rule).
• Shares sold: 123,518; weighted average price reported $7.68; prices in the block ranged from $7.41 to $8.15.
• Gross proceeds: ≈ $948,878.
• Post-transaction holdings: Not specified in the provided Form 4; filing notes holdings of issuer common stock through West Equities, LLC over which Ehrlichman has sole voting and dispositive power (see footnote F3).
• Notable footnotes:
  • F1: Sale was required by the issuer (at issuer’s election, without the reporting person’s discretion) as the sole sell-to-cover method to satisfy tax withholding for PRSUs that vested April 7, 2026.
  • F2: Reported price is a weighted average; the reporting person can supply per-trade price breakdown on request.
  • F3: Shares reported as held via West Equities, LLC under Ehrlichman’s control.
• Filing timeliness: Timely (filed April 28 for a April 24 transaction).

Context
This transaction is a routine sell-to-cover tied to the settlement of vested PRSUs; the issuer has indicated it will settle vested shares across multiple transactions between April 7 and May 21, 2026 to reduce market impact. Sell-to-cover transactions are tax-related and do not necessarily reflect the insider’s view of the company’s outlook. As a 10% owner, Ehrlichman is a significant shareholder but not necessarily an executive trading on personal investment intent.