Form 4 for PRCH Porch Group, Inc.
Accepted 2023-02-14 00:00:00 ET · period of report 2023-01-20 · accession 0001493152-23-005095 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DMI | 2023-02-14 | 2023-01-20+ | PRCH | Park West Asset Management LLC | 10% | P - Purchase | $2.47 | +2.17M | 11.10M | +24% | +$5.36M |
| DMI | 2023-02-14 | 2023-01-20+ | PRCH | Park West Asset Management LLC | 10% | S - Sale | — | -2.60M | 1.90M | -58% | — |
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, par value $0.0001 | 2023-01-20 | P | A | 474,220 | $2.46 | 10,569,083 | I See Footnote | — | — | (F8) The amount of any recoverable short swing profit from the Reporting Person resulting from the reported transactions will be calculated pursuant to Rule 16b-6(c)(2), and will be remitted to the Issuer. (F2) The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.295 to $2.565 per share, inclusive. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein. (F1) Park West Asset Management LLC ("PWAM") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF") and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, collectively with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park"), through one or more affiliated entities, is the controlling manager of the Reporting Person. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in the securities reported herein. |
| 2 | Common | Common stock, par value $0.0001 | 2023-01-24 | P | A | 760,000 | $2.46 | 11,859,833 | I See Footnote | — | — | (F8) The amount of any recoverable short swing profit from the Reporting Person resulting from the reported transactions will be calculated pursuant to Rule 16b-6(c)(2), and will be remitted to the Issuer. (F4) The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.375 to $2.785 per share, inclusive. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein. (F1) Park West Asset Management LLC ("PWAM") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF") and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, collectively with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park"), through one or more affiliated entities, is the controlling manager of the Reporting Person. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in the securities reported herein. |
| 3 | Common | Common stock, par value $0.0001 | 2023-01-25 | P | A | 407,874 | $2.31 | 12,267,707 | I See Footnote | — | — | (F8) The amount of any recoverable short swing profit from the Reporting Person resulting from the reported transactions will be calculated pursuant to Rule 16b-6(c)(2), and will be remitted to the Issuer. (F5) The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.21 to $2.42 per share, inclusive. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein. (F1) Park West Asset Management LLC ("PWAM") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF") and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, collectively with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park"), through one or more affiliated entities, is the controlling manager of the Reporting Person. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in the securities reported herein. |
| 4 | Common | Common stock, par value $0.0001 | 2023-01-23 | P | A | 530,750 | $2.60 | 11,099,833 | I See Footnote | — | — | (F8) The amount of any recoverable short swing profit from the Reporting Person resulting from the reported transactions will be calculated pursuant to Rule 16b-6(c)(2), and will be remitted to the Issuer. (F3) The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.40 to $2.75 per share, inclusive. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein. (F1) Park West Asset Management LLC ("PWAM") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF") and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, collectively with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park"), through one or more affiliated entities, is the controlling manager of the Reporting Person. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in the securities reported herein. |
| 5 | Derivative | Equity Swap (right to buy) | 2023-01-25 | S | D | 407,874 | — | 0 | I See Footnote | $3.14 · 2025-12-31 to 2025-12-31 | 407,874 Common stock, par value $0.0001 | (F8) The amount of any recoverable short swing profit from the Reporting Person resulting from the reported transactions will be calculated pursuant to Rule 16b-6(c)(2), and will be remitted to the Issuer. (F6) On November 23, 2022 the Reporting Person entered into an equity swap agreement with a third party. The reported equity swap was on a basket of securities, which included shares of the Issuer's common stock. Under the equity swap, the third party was obligated to pay to the Reporting Person the aggregate increase, if any, in value of the basket of securities between November 23, 2022 and December 31, 2025. In connection with the optional partial early termination of the equity swap agreement, the third party became obligated to pay to the Reporting Person the excess of the price per share of the Issuer's common stock on each of January 20, 2023, January 23, 2023, January 24, 2023 and January 25, 2023 over the price per share of the Issuer's common stock on November 23, 2022. (F1) Park West Asset Management LLC ("PWAM") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF") and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, collectively with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park"), through one or more affiliated entities, is the controlling manager of the Reporting Person. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in the securities reported herein. |
| 6 | Derivative | Equity Swap (right to buy) | 2023-01-24 | S | D | 760,000 | — | 407,874 | I See Footnote | $3.34 · 2025-12-31 to 2025-12-31 | 760,000 Common stock, par value $0.0001 | (F8) The amount of any recoverable short swing profit from the Reporting Person resulting from the reported transactions will be calculated pursuant to Rule 16b-6(c)(2), and will be remitted to the Issuer. (F6) On November 23, 2022 the Reporting Person entered into an equity swap agreement with a third party. The reported equity swap was on a basket of securities, which included shares of the Issuer's common stock. Under the equity swap, the third party was obligated to pay to the Reporting Person the aggregate increase, if any, in value of the basket of securities between November 23, 2022 and December 31, 2025. In connection with the optional partial early termination of the equity swap agreement, the third party became obligated to pay to the Reporting Person the excess of the price per share of the Issuer's common stock on each of January 20, 2023, January 23, 2023, January 24, 2023 and January 25, 2023 over the price per share of the Issuer's common stock on November 23, 2022. (F1) Park West Asset Management LLC ("PWAM") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF") and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, collectively with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park"), through one or more affiliated entities, is the controlling manager of the Reporting Person. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in the securities reported herein. |
| 7 | Derivative | Equity Swap (right to buy) | 2023-01-23 | S | D | 730,750 | — | 1,167,874 | I See Footnote | $3.46 · 2025-12-31 to 2025-12-31 | 730,750 Common stock, par value $0.0001 | (F8) The amount of any recoverable short swing profit from the Reporting Person resulting from the reported transactions will be calculated pursuant to Rule 16b-6(c)(2), and will be remitted to the Issuer. (F6) On November 23, 2022 the Reporting Person entered into an equity swap agreement with a third party. The reported equity swap was on a basket of securities, which included shares of the Issuer's common stock. Under the equity swap, the third party was obligated to pay to the Reporting Person the aggregate increase, if any, in value of the basket of securities between November 23, 2022 and December 31, 2025. In connection with the optional partial early termination of the equity swap agreement, the third party became obligated to pay to the Reporting Person the excess of the price per share of the Issuer's common stock on each of January 20, 2023, January 23, 2023, January 24, 2023 and January 25, 2023 over the price per share of the Issuer's common stock on November 23, 2022. (F1) Park West Asset Management LLC ("PWAM") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF") and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, collectively with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park"), through one or more affiliated entities, is the controlling manager of the Reporting Person. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in the securities reported herein. |
| 8 | Derivative | Equity Swap (right to buy) | 2023-01-20 | S | D | 172,816 | — | 0 | I See Footnote | $3.34 · 2025-12-30 to 2025-12-30 | 172,816 Common stock, par value $0.0001 | (F8) The amount of any recoverable short swing profit from the Reporting Person resulting from the reported transactions will be calculated pursuant to Rule 16b-6(c)(2), and will be remitted to the Issuer. (F7) On November 23, 2022 the Reporting Person entered into an equity swap agreement with a third party. The reported equity swap was on a basket of securities, which included shares of the Issuer's common stock. Under the equity swap, the third party was obligated to pay to the Reporting Person the aggregate increase, if any, in value of the basket of securities between November 23, 2022 and December 30, 2025. In connection with the optional partial early termination of the equity swap agreement, the third party became obligated to pay to the Reporting Person the excess of the price per share of Issuer's common stock on January 20, 2023 over the price per share of the Issuer's common stock on November 23, 2022. (F1) Park West Asset Management LLC ("PWAM") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF") and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, collectively with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park"), through one or more affiliated entities, is the controlling manager of the Reporting Person. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in the securities reported herein. |
| 9 | Derivative | Equity Swap (right to buy) | 2023-01-20 | S | D | 527,184 | — | 1,898,624 | I See Footnote | $3.34 · 2025-12-31 to 2025-12-31 | 527,184 Common stock, par value $0.0001 | (F8) The amount of any recoverable short swing profit from the Reporting Person resulting from the reported transactions will be calculated pursuant to Rule 16b-6(c)(2), and will be remitted to the Issuer. (F6) On November 23, 2022 the Reporting Person entered into an equity swap agreement with a third party. The reported equity swap was on a basket of securities, which included shares of the Issuer's common stock. Under the equity swap, the third party was obligated to pay to the Reporting Person the aggregate increase, if any, in value of the basket of securities between November 23, 2022 and December 31, 2025. In connection with the optional partial early termination of the equity swap agreement, the third party became obligated to pay to the Reporting Person the excess of the price per share of the Issuer's common stock on each of January 20, 2023, January 23, 2023, January 24, 2023 and January 25, 2023 over the price per share of the Issuer's common stock on November 23, 2022. (F1) Park West Asset Management LLC ("PWAM") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF") and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, collectively with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park"), through one or more affiliated entities, is the controlling manager of the Reporting Person. The Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in the securities reported herein. |