Form 4: Porch Group CEO Sells Shares for Tax Obligations

Porch Group CEO Matt Ehrlichman disposed of 55,080 shares of common stock on October 5, 2025, to cover tax liabilities related to RSU vesting.

Summary

• Matt Ehrlichman, CEO, Chairman, Founder, Director, and 10% Owner of Porch Group, Inc. (PRCH), reported a disposition of common stock.
• On October 5, 2025, Ehrlichman disposed of 29,091 shares of common stock at a price of $17.02 per share.
• These shares were withheld to satisfy tax obligations upon the semi-annual vesting of his April 7, 2023, Restricted Stock Unit (RSU) grant.
• Additionally, on the same date, he disposed of 25,989 shares of common stock, also at $17.02 per share, for tax withholding related to the semi-annual vesting of his April 5, 2024, RSU grant.
• The total number of shares disposed for tax purposes was 55,080.
• Following these transactions, Ehrlichman directly beneficially owns 13,713,728 shares of common stock.
• He also indirectly beneficially owns 6,416,712 shares of common stock through West Equities, LLC, over which he has sole voting and dispositive power.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, non-discretionary transaction for tax purposes related to RSU vesting, which is a standard part of executive compensation.

Positives

• The vesting of Restricted Stock Units (RSUs) indicates continued long-term incentive alignment for the CEO with shareholder interests.
• The transactions are non-discretionary and represent a routine event associated with executive compensation structures.

Negatives

• The disposal of 55,080 shares, even for tax purposes, results in a slight reduction in the CEO's direct beneficial ownership.

Risks

• No specific new risks are identified in this Form 4 filing beyond the general market risks inherent in holding equity securities.

Future Outlook

The Restricted Stock Units (RSUs) from both the April 7, 2023, and April 5, 2024, grants will continue to vest ratably every 6 months over their remaining 48-month vesting terms, contingent on Matt Ehrlichman's continuous employment or service with Porch Group, Inc.

Management Comments

• These shares represent shares withheld on the semi-annual vesting of the Reporting Person's April 7, 2023 RSU grant.
• The RSUs will continue to vest ratably every 6 months over the remaining term of the 48-month vesting, subject to the Reporting Person's continuous employment or service with the Issuer.
• These shares represent shares withheld on the semi-annual vesting of the Reporting Person's April 5, 2024 RSU Grant.

Industry Context

This filing represents a routine insider transaction, specifically a non-discretionary disposal of shares to cover tax obligations upon the vesting of Restricted Stock Units. Such transactions are common across publicly traded companies as part of executive compensation and do not typically reflect a change in management's outlook or company fundamentals.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes, not a discretionary sale. It reflects ongoing executive compensation practices.
• Employees: No direct impact mentioned.

Next Steps

• The remaining portions of the April 7, 2023, and April 5, 2024, RSU grants will continue to vest semi-annually over their respective 48-month terms, subject to continuous employment.

Key Dates

Recommendation

This Form 4 filing details a routine, non-discretionary transaction where the CEO disposed of shares to cover tax liabilities upon RSU vesting. Such events are standard practice in executive compensation and do not provide new information that would alter the fundamental investment thesis for Porch Group, Inc. Therefore, a 'hold' recommendation is appropriate as this filing does not present a catalyst for a change in investment strategy.

Keywords

Porch Group, PRCH, Matt Ehrlichman, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Tax Withholding, Common Stock, Beneficial Ownership