Neagle Matthew 4

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.