Form 4/A for PRCH Porch Group, Inc.
Accepted 2022-02-14 00:00:00 ET · period of report 2021-04-16 · accession 0001104659-22-023394 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| A | 2022-02-14 | 2021-04-16 | PRCH | Ehrlichman Matt | CEO, COB, Founder, Dir, 10% | A - Grant | $0.00 | +2,470 | 8.67M | +0.0% | $0 |
| A | 2022-02-14 | 2021-04-16 | PRCH | Ehrlichman Matt | CEO, COB, Founder, Dir, 10% | F - Tax | $19.30 | -155.7K | 8.51M | -2% | -$3.00M |
| AI | 2022-02-14 | 2021-04-16 | PRCH | Ehrlichman Matt | CEO, COB, Founder, Dir, 10% | A - Grant | $0.00 | +1,613 | 6.77M | +0.0% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2021-04-16 | A | A | 2,470 | $0.00 | 8,665,379 | D See Footnote | — | — | (F1) Represents additional restricted shares of common stock ("Earnout Shares") of Porch Group, Inc. (the "Issuer") issued pursuant to the Earnout Share adjustment mechanics in the Agreement and Plan of Merger, dated as of July 30, 2020, (as amended, the "Merger Agreement"), by and among the Issuer (f/k/a PropTech Acquisition Corporation), Porch.com, Inc. and the other parties thereto. (F4) These shares of Common Stock are held by West Equities, LLC over which the Reporting Person has sole voting and dispositive power. |
| 2 | Common | Common Stock | 2021-04-16 | F | D | 155,674 | $19.30 | 8,509,705 | D | — | — | (F3) Instead, the Form 4 should have listed the forfeiture of 155,674 Earnout Shares in connection with such vesting events. As a result of the administrative error, the number of shares beneficially owned by the reporting person following the corrected transaction reflects an increase in the number of shares reported as beneficially owned by the reporting person by 71,480 shares. This underreporting error was corrected in the Form 4 filing made on November 17, 2021. (F2) The original Form 4, filed on April 20, 2021, is being amended by this Form 4 amendment solely to correct an administrative error, which inadvertently listed 227,154 Earnout Shares as having been forfeited to satisfy tax obligations in connection with the vesting of 345,891 Earnout Shares previously reported on Table I due to Issuer meeting the $18.00 common stock price hurdle set forth in the Merger Agreement (and the corresponding vesting of one-third (1/3) of all Earnout Shares issued under the Merger Agreement) and the vesting of 333,334 restricted shares of common stock previously reported on Table I which are subject to the same vesting hurdles. |
| 3 | Common | Common Stock | 2021-04-16 | A | A | 1,613 | $0.00 | 6,773,689 | I | — | — | (F1) Represents additional restricted shares of common stock ("Earnout Shares") of Porch Group, Inc. (the "Issuer") issued pursuant to the Earnout Share adjustment mechanics in the Agreement and Plan of Merger, dated as of July 30, 2020, (as amended, the "Merger Agreement"), by and among the Issuer (f/k/a PropTech Acquisition Corporation), Porch.com, Inc. and the other parties thereto. (F4) These shares of Common Stock are held by West Equities, LLC over which the Reporting Person has sole voting and dispositive power. |