Neagle Matthew 4
4 · Porch Group, Inc. · Filed May 14, 2026
Research Summary
AI-generated summary of this filing
Porch Group (PRCH) COO Matthew Neagle Sells 63,650 Shares
What Happened
Matthew Neagle, Chief Operating Officer of Porch Group (PRCH), reported the sale of 63,650 shares on May 12, 2026. The shares were disposed at a weighted average price of $10.52 per share for total proceeds of $669,910. This transaction is a sale (code S) and was executed as a sell-to-cover to satisfy tax withholding on performance-based restricted stock units (PRSUs) that vested April 7, 2026, not as a discretionary open-market trade.
Key Details
- Transaction date: 2026-05-12; Form 4 filed: 2026-05-14 (timely filing).
- Price: weighted average $10.52; individual trades ranged from $10.225 to $10.970 per share.
- Total proceeds reported: $669,910.
- Shares owned after transaction: not disclosed in this filing.
- Footnote highlights:
- F1: Sale was required by the issuer (no discretion by the reporting person) under a sell-to-cover method to satisfy tax withholding for PRSUs that vested on April 7, 2026. Issuer is settling vested PRSU shares in multiple transactions from April 7 to May 21, 2026 to reduce market impact.
- F2: Reported price is a weighted average; the reporting person can provide the exact breakdown of shares sold at each price on request.
Context
This was a tax-withholding sale related to vested equity awards rather than a voluntary sell decision; companies commonly use sell-to-cover for net settlement. For retail investors, purchases are generally a stronger signal than required sell-to-cover transactions. The issuer’s stated plan to stagger settlements over ~45 days is intended to limit market impact.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-05-12$10.52/sh−63,650$669,910→ 2,113,032 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 $10.225 to $10.970 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.