Neagle Matthew 4
4 · Porch Group, Inc. · Filed Apr 28, 2026
Research Summary
AI-generated summary of this filing
Porch Group (PRCH) COO Matthew Neagle Sells 63,979 Shares
What Happened
Matthew Neagle, Chief Operating Officer of Porch Group, sold 63,979 shares of PRCH on April 24, 2026. The reported weighted-average sale price was $7.68 per share, for proceeds of about $491,493. This was a sale (not a purchase) and — per the filing — was a required sell-to-cover to satisfy tax withholding on vested performance-based restricted stock units (PRSUs), not an independent discretionary sale.
Key Details
- Transaction date: April 24, 2026. Form 4 filed April 28, 2026 (timely under SEC Form 4 rules).
- Price: weighted average $7.68; individual trades ranged from $7.41 to $8.15 per share (filing offers to provide per-trade breakdown on request).
- Shares sold: 63,979; proceeds ≈ $491,493.
- Reason/footnote: Sale was required by the issuer under a sell-to-cover method to satisfy tax withholding on PRSUs that vested April 7, 2026. Issuer plans to settle vested PRSU shares in multiple transactions over ~45 days (April 7–May 21) to reduce market impact.
- Shares owned after transaction: not specified in the provided filing.
Context
Sell-to-cover transactions are common when restricted stock or RSUs vest and taxes must be paid; they are generally considered routine administrative sales rather than a directional bet on the stock. The filing discloses the issuer-directed nature of the sale and the staged settlement plan meant to limit market impact.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-04-24$7.68/sh−63,979$491,493→ 2,421,899 total
Footnotes (2)
- [F1]This sale was required by the Issuer at its election (without any discretion by the Reporting Person) under a sell-to-cover method as the sole means for plan participants to satisfy tax withholding obligations in connection with the settlement of performance-based restricted stock unit ("PRSU") awards that vested on April 7, 2026. As previously disclosed, the Issuer has confirmed its intent to settle vested shares of Common Stock for these PRSU awards in several transactions over approximately 45 days, between April 7, 2026 and May 21, 2026 to reduce market impact.
- [F2]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $7.41 to $8.15 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.