Form 4: Porch Group CEO Matt Ehrlichman Reports Share Withholding for RSU Vesting
SEC Form 4 Filing
Matt Ehrlichman, CEO of Porch Group, reports the withholding of shares to cover taxes on the vesting of his restricted stock units (RSUs).
Summary
- On July 1, 2024, Matt Ehrlichman, CEO, Chairman, and Founder of Porch Group, Inc. had 23,135 shares of common stock withheld to cover taxes related to the vesting of his RSUs.
- The shares were withheld at a price of $1.51 per share.
- Following the transaction, Ehrlichman directly owns 13,598,342 shares and indirectly owns 6,416,712 shares through West Equities, LLC.
- The RSUs are part of a grant from February 10, 2022, and vest quarterly over a 36-month period that began on October 1, 2021, contingent upon continuous employment or service with the Issuer.
Sentiment
Score: 5
Explanation: This is a neutral filing related to standard executive compensation practices.
Industry Context
This filing is a routine disclosure related to executive compensation and is common for companies that issue stock-based compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it relates to the standard vesting of executive compensation.
Key Dates
| Date | Description |
|---|---|
| October 1, 2021 | Commencement date of the 36-month vesting period for the RSU grant. |
| February 10, 2022 | Date of the RSU grant to the Reporting Person. |
| July 1, 2024 | Date of the transaction where shares were withheld for RSU vesting. |
| July 3, 2024 | Date of the Form 4 filing. |
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