Tabak Shawn 4

What Happened

• Shawn Tabak, Chief Financial Officer of Porch Group, was granted two awards on April 7, 2026 (39,027 RSUs under the 2026 LTIP and 28,308 shares relating to above‑target 2025 bonus) and concurrently had three sell transactions on April 7, 2026 disposing of 4,444, 1,931 and 2,969 shares (total 9,344) for total proceeds of $67,173. The sales were required sell‑to‑cover transactions to satisfy tax withholding obligations tied to RSU vesting.

Key Details

• Transaction dates (period of report): April 7, 2026; Form 4 filed April 9, 2026 (appears timely).
• Awards: 39,027 RSUs granted under 2026 LTIP (F1) and 28,308 shares granted for above-target 2025 bonus (F2). Each RSU converts to one share upon vesting.
• Sales: 9,344 shares sold at a weighted average price of $7.19 per share (range $7.19–$7.28) for total proceeds ≈ $67,173 (F4).
• Reason for sales: Required by the issuer to cover tax withholding on RSU settlements from prior grants that vested in early April 2026 (sell-to-cover; F3–F6). Reporting person had no discretion over these sales.
• Shares owned after transaction: Not specified in the provided filing.

Context

• RSUs are not immediate purchases — they represent a right to receive shares upon vesting. The 39,027 RSU award vests over a 48‑month schedule (25% after one year, then periodic vesting every six months per F1). The sell-to-cover sales are routine tax-withholding actions and do not necessarily indicate the insider’s market view.
• For retail investors, routine sell-to-cover transactions are common following vesting and are generally different from discretionary open-market sales that might signal sentiment.