Form 4 for PRCH Porch Group, Inc.
Accepted 2023-04-07 00:00:00 ET · period of report 2023-04-07 · accession 0001415889-23-006375 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-04-07 | 2023-04-07 | PRCH | Ehrlichman Matt | CEO, COB AND FOUNDER, Dir, 10% | A - Grant | $0.00 | +582.8K | 11.25M | +5% | $0 |
| D | 2023-04-07 | 2023-04-07 | PRCH | Ehrlichman Matt | CEO, COB AND FOUNDER, Dir, 10% | A - Grant | $0.00 | +874.2K | 874.2K | New | $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 | 2023-04-07 | A | A | 582,825 | $0.00 | 11,246,640 | D | — | — | (F1) Represents a grant of restricted stock units ("PRSUs"). Each RSU represents a right to receive one share of the Issuer's common stock upon vesting. 25% of the RSUs shall vest on April 5, 2024, then 1/6th of the remaining RSUs shall vest every 6 months for the next 36 months, subject to the Reporting Person's employment or service with the Issuer as contemplated in the RSU Award Agreement. |
| 2 | Derivative | Performance-based Restricted Stock Units | 2023-04-07 | A | A | 874,237 | $0.00 | 874,237 | D | — · — to — | 874,237 Common Stock | (F3) Represents a grant of performance-based RSUs ("PRSUs"). Each PRSU represents a right to receive one share of the Issuer's common stock upon vesting. The PRSUs are earned based on the achievement of specified share price goals for specified time periods during a three-year performance period ending April 7, 2026. The Reporting Person could earn 0-200% of the amount reported depending on the level of performance achieved. The PRSUs reported represent 50% of the full award, additional shares could be earned upon achievement of profit (25%) and revenue (25%) performance goals. The PRSUs will vest upon the certification of achievement by the Compensation Committee of the Board of Directors of the Issuer following the end of the performance period, subject to the Reporting Person's employment or service with the Issuer as contemplated in the PRSU Award Agreement. |