Neagle Matthew 4
4 · Porch Group, Inc. · Filed May 19, 2026
Research Summary
AI-generated summary of this filing
Porch Group (PRCH) COO Matthew Neagle Sells 59,983 Shares
What Happened
Matthew Neagle, Chief Operating Officer of Porch Group (PRCH), disposed of 59,983 shares on May 15, 2026. The filing reports a weighted-average sale price of $10.34 per share for proceeds of approximately $620,254. The sale was 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: 2026-05-15 (Form 4 filed 2026-05-19)
- Shares sold: 59,983; weighted-average price reported: $10.34; total proceeds ≈ $620,254
- Price range: shares sold in multiple transactions at $10.02–$10.79 per share (filing provides weighted average; breakdown available on request)
- Reason: Required by the issuer (sell‑to‑cover) to satisfy tax withholding on vested PRSUs (issuer elected this method; no discretion by the reporting person)
- Shares owned after transaction: Not specified in the provided filing excerpt
- Footnotes: Issuer intends to settle vested PRSUs in several transactions over ~45 days (Apr 7–May 21, 2026) to reduce market impact
Context
A sell‑to‑cover is a routine administrative sale to cover tax withholding when equity awards vest; it does not necessarily indicate a decision to reduce broader holdings or a view on the company’s prospects. The issuer’s planned staggered settlements are intended to limit market impact.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-05-15$10.34/sh−59,983$620,254→ 2,053,049 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 $10.02 to $10.79 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.