Ehrlichman Matt 4

What Happened Matt Ehrlichman, a 10% owner of Porch Group, sold 124,089 shares of Porch common stock in an issuer-directed sell-to-cover transaction on May 1, 2026. The reported weighted-average sale price was $9.79 per share, resulting in proceeds of approximately $1,214,720. This sale was executed to satisfy tax withholding obligations tied to performance-based restricted stock units (PRSUs) that vested April 7, 2026.

Key Details

• Transaction date: 2026-05-01 (reported on Form 4 filed 2026-05-05; filing is within the SEC two-business-day window).
• Transaction type/code: Sale (S) — issuer-directed sell-to-cover to satisfy tax withholding (see footnote).
• Shares sold: 124,089; weighted-average price: $9.79; total proceeds: ~$1,214,720.
• Price range: shares were sold in multiple trades between $9.735 and $10.230; detailed per-trade breakdown available on request per the filing.
• Shares owned after transaction: Not specified in this filing. Footnote notes issuer common stock held by West Equities, LLC over which Ehrlichman has sole voting and dispositive power.
• Footnotes: (1) Sale required by issuer at its election as sole means to satisfy tax withholding for vested PRSUs; (2) issuer plans to settle vested PRSU shares in several transactions over ~45 days (Apr 7–May 21, 2026) to reduce market impact; (3) holdings through West Equities, LLC.

Context This was a routine, issuer-directed sell-to-cover for tax withholding on vested PRSUs rather than an independent discretionary sale by the insider. Such sell-to-cover transactions are common after vesting and do not necessarily indicate a change in the insider’s view of the company. As a 10% owner, Ehrlichman’s holdings may be held through an entity (West Equities, LLC), which the filing notes he controls.