Neagle Matthew 4
4 · Porch Group, Inc. · Filed May 12, 2026
Research Summary
AI-generated summary of this filing
Porch Group (PRCH) COO Matthew Neagle Sells 60,240 Shares
What Happened
Matthew Neagle, Chief Operating Officer of Porch Group (PRCH), sold 60,240 shares on May 8, 2026 for a weighted average price of $11.12 per share, generating approximately $669,628 in proceeds. This was a sale (not a purchase) executed as a sell-to-cover to satisfy tax withholding obligations related to performance-based restricted stock units (PRSUs) that vested April 7, 2026.
Key Details
- Transaction date: 2026-05-08; weighted average sale price reported $11.12; individual sale prices ranged from $10.88 to $11.34.
- Total reported proceeds: ~$669,628.
- Shares owned after transaction: Not disclosed in the provided filing excerpt.
- Reason: Issuer-required sell-to-cover for tax withholding on vested PRSUs (per filing footnote). Issuer intends to settle vested PRSU shares over multiple transactions between April 7 and May 21, 2026 to reduce market impact.
- Price reporting: The $11.12 figure is a weighted average; the filer will provide per-price details on request (per footnote).
- Filing timeliness: Report filed 2026-05-12 for a 2026-05-08 transaction; this appears to meet the standard two-business-day Form 4 filing deadline.
Context
This transaction was a routine, issuer-directed sell-to-cover to meet tax obligations on vested equity rather than a discretionary open-market sell motivated by trading views. Such sell-to-cover sales are common when equity awards vest and do not necessarily indicate insider sentiment about the company’s stock.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-05-08$11.12/sh−60,240$669,628→ 2,176,682 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 $10.88 to $11.34 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.