Form 4: Porch Group COO Matthew Neagle Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Matthew Neagle, Chief Operating Officer of Porch Group, Inc., reports changes in beneficial ownership of common stock due to shares withheld for RSU vesting.
Summary
- On October 1, 2024, Matthew Neagle, the Chief Operating Officer of Porch Group, Inc., reported changes in his beneficial ownership of the company's common stock.
- These changes resulted from the withholding of shares to cover the vesting of Restricted Stock Units (RSUs).
- 4,030 shares were withheld at a price of $1.37 per share related to the final quarterly vesting of an RSU grant from November 16, 2021.
- An additional 11,311 shares were withheld at a price of $1.37 per share related to the semi-annual vesting of an RSU grant from May 20, 2022.
- Following these transactions, Neagle's direct ownership of Porch Group common stock is 1,458,815 shares.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to executive compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices through RSU grants and subsequent share withholding for vesting.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| November 16, 2021 | Date of the RSU grant for which shares were withheld on final quarterly vesting. |
| May 20, 2022 | Date of the RSU grant for which shares were withheld on semi-annual vesting. |
| April 1, 2022 | Commencement date of the 48-month vesting period for the May 20, 2022 RSU grant. |
| October 01, 2024 | Date of the transaction (shares withheld for RSU vesting). |
| October 03, 2024 | Date of the report filing. |
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