Lam Rachel 4

What Happened
Rachel Lam, a member of Porch Group, Inc.'s board of directors, received an award of 15,940 restricted stock units (RSUs) on 2026-06-10. The RSUs were granted at $0.00 (no cash consideration) and each RSU represents the right to one share of Porch common stock upon vesting. This award is part of the company's Non-Employee Director Compensation Policy and is a routine annual director grant.

Key Details

• Transaction date: 2026-06-10; Form 4 filed: 2026-06-12.
• Transaction type/code: Award/Grant (A).
• Units granted: 15,940 RSUs @ $0.00; total cash paid at grant = $0.
• Vesting: Shares underlying the RSUs vest on the one-year anniversary of the grant (Annual Grant Vesting Date), subject to continued board service (i.e., likely vesting around 2027-06-10).
• Resale restrictions: Two‑thirds of the vested shares will be restricted from sale immediately after vesting; those restrictions lapse in equal increments on the first and second anniversaries following the vesting date.
• Shares owned after transaction: Not specified in the provided filing.
• Filing timeliness: Form 4 filed two days after the transaction date; no late-filing indication in the provided data.
• Exhibit: Exhibit 24 — Power of Attorney.

Context
RSU grants to non-employee directors are common as compensation for board service and do not involve an immediate purchase or sale of stock. Each RSU converts into one share only upon vesting; because two-thirds of the vested shares remain subject to resale restrictions that phase out over two years, most of these shares will not be freely tradable immediately after vesting. Such grants are routine and should be viewed as compensation rather than a direct bullish or bearish trading signal.