January 1, 2024 · Form 4 insider transaction
Ehrlichman Matt sold 17,606 shares of Porch.com, Inc (f/k/a Porch Group, Inc.) at $3.08 per share, a transaction worth $54.2K. The trade was recorded as shares withheld for taxes and disclosed on an SEC Form 4, filed 2 days after the transaction.
These shares represent shares withheld on the quarterly vesting of the Reporting Person's February 10, 2022 RSU grant. The RSUs will continue to vest ratably on a quarterly basis over 36 months, with the vesting period commencing on October 1, 2021; Reflects the forfeiture of 683,530 restricted shares of common stock ("Earnout Shares") previously issued pursuant to 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. The Earnout Shares were automatically forfeited on December 23, 2023 pursuant to the terms of the Merger Agreement because certain vesting conditions were not satisfied.