{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-073346","form_type":"8-K","ticker":null,"cik":"0002126256","company_name":"Porsche Innovative Lease Owner Trust 2026-1","filed_at":"2026-06-12T16:41:37+00:00","discovered_at":"2026-06-12T16:43:00.330481+00:00","generated_at":"2026-06-12T16:43:09.362856+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Porsche closes $911M auto lease ABS notes; PILOT 2026-1 issued June 12","bullets":["Class A-1/A-2a/A-2b/A-3/A-4 notes aggregate initial principal $911M issued June 12, 2026.","Issuing entity: Porsche Innovative Lease Owner Trust 2026-1; depositor: Porsche Auto Funding LLC.","Notes backed by a pool of auto leases and vehicles (Transaction SUBI Portfolio).","Proceeds used to fund purchase of SUBI certificate from Porsche Funding Limited Partnership.","Indenture trustee: U.S. Bank Trust Company; servicer: Porsche Financial Services."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-073346","json":"https://secwatch.observer/filing/0001104659-26-073346.json","markdown":"https://secwatch.observer/filing/0001104659-26-073346.md","text":"https://secwatch.observer/filing/0001104659-26-073346.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1541507/000110465926073346/tm2615407d14_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T16:43:09.362856+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"04e32f35df19a128971dfbfbff2ff430b37feb11","claim":"Porsche Innovative Lease Owner Trust 2026-1 entered into Administration Agreement with Issuing Entity, PFS, as administrator, and the Indenture Trustee valued at Administration Agreement (effective 2026-06-12).","evidence_excerpt":"Administration Agreement, by and among the Issuing Entity, PFS, as administrator, and the Indenture Trustee, relating to the provision by PFS of certain administration services relating to the Issuing Entity relating to the Notes.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Issuing Entity, PFS, as administrator, and the Indenture Trustee"},{"label":"Value","value":"Administration Agreement"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"},{"claim_id":"06e13587ac770818aad7abfdda4ba560ad6b9502","claim":"Porsche Innovative Lease Owner Trust 2026-1 entered into Transaction SUBI Supplement 2026-1 to Amended and Restated Trust Agreement with Porsche Funding Limited Partnership (PFLP) and Wilmington Trust Company valued at Transaction SUBI Supplement 2026-1 to Amended and Restated Trust Agreement (effective 2026-06-12).","evidence_excerpt":"Transaction SUBI Supplement 2026-1 to Amended and Restated Trust Agreement, by and among Porsche Funding Limited Partnership (“PFLP”), as settlor and UTI holder, and Wilmington Trust Company, as Origination Trustee (the “Origination Trustee”), pursuant to which the Origination Trust issued the Transaction SUBI Certificate evidencing a special unit of beneficial interest in the Included Units.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Porsche Funding Limited Partnership (PFLP) and Wilmington Trust Company"},{"label":"Value","value":"Transaction SUBI Supplement 2026-1 to Amended and Restated Trust Agreement"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"},{"claim_id":"0b7e3739573fce91093fc323aabacb07681ce1b5","claim":"Porsche Innovative Lease Owner Trust 2026-1 entered into Amended and Restated Trust Agreement with Porsche Auto Funding LLC (PAF) and Wilmington Trust, National Association valued at Amended and Restated Trust Agreement (effective 2026-06-12).","evidence_excerpt":"Amended and Restated Trust Agreement, by and between PAF and Wilmington Trust, National Association (the “Owner Trustee”), which amended and restated the trust agreement, dated as of November 10, 2025, pursuant to which the Issuing Entity was created.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Porsche Auto Funding LLC (PAF) and Wilmington Trust, National Association"},{"label":"Value","value":"Amended and Restated Trust Agreement"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"},{"claim_id":"8e1682c707f0ff48c91711d054d9ca866b64ef85","claim":"Porsche Innovative Lease Owner Trust 2026-1 entered into Transaction SUBI Supplement 2026-1 to Amended and Restated Servicing Agreement with PFS, as servicer, the Origination Trust and the Origination Trustee valued at Transaction SUBI Supplement 2026-1 to Amended and Restated Servicing Agreement (effective 2026-06-12).","evidence_excerpt":"Transaction SUBI Supplement 2026-1 to Amended and Restated Servicing Agreement, by and among PFS, as servicer, the Origination Trust and the Origination Trustee, pursuant to which PFS agreed to service the Included Units.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"PFS, as servicer, the Origination Trust and the Origination Trustee"},{"label":"Value","value":"Transaction SUBI Supplement 2026-1 to Amended and Restated Servicing Agreement"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"},{"claim_id":"b3c2b94556258da37a09849a7c9a30997e476a02","claim":"Porsche Innovative Lease Owner Trust 2026-1 entered into SUBI Transfer Agreement with Porsche Auto Funding LLC (PAF) and the Issuing Entity valued at SUBI Transfer Agreement (effective 2026-06-12).","evidence_excerpt":"SUBI Transfer Agreement, by and between PAF, as seller, and the Issuing Entity, as buyer, pursuant to which PAF transferred to the Issuing Entity the Transaction SUBI Certificate.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Porsche Auto Funding LLC (PAF) and the Issuing Entity"},{"label":"Value","value":"SUBI Transfer Agreement"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"},{"claim_id":"b464fa14e5ff0292946f972e388f2d939200a376","claim":"Porsche Innovative Lease Owner Trust 2026-1 entered into SUBI Sale Agreement with Porsche Funding Limited Partnership (PFLP) and Porsche Auto Funding LLC (PAF) valued at SUBI Sale Agreement (effective 2026-06-12).","evidence_excerpt":"SUBI Sale Agreement, by and between PFLP, as seller, and Porsche Auto Funding LLC (“PAF”), as buyer, pursuant to which PFLP transferred to PAF the Transaction SUBI Certificate.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"Porsche Funding Limited Partnership (PFLP) and Porsche Auto Funding LLC (PAF)"},{"label":"Value","value":"SUBI Sale Agreement"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"},{"claim_id":"c179740e442e379cd5574cff4c4469a6957c2070","claim":"Porsche Innovative Lease Owner Trust 2026-1 entered into Indenture with Issuing Entity and U.S. Bank Trust Company, National Association valued at Indenture (effective 2026-06-12).","evidence_excerpt":"Indenture, by and between the Issuing Entity and U.S. Bank Trust Company, National Association (the “Indenture Trustee”), pursuant to which the Notes were issued.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Issuing Entity and U.S. Bank Trust Company, National Association"},{"label":"Value","value":"Indenture"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"},{"claim_id":"c720dc4bb459de9e583ffd8d0e01c31c2526f9b2","claim":"Porsche Innovative Lease Owner Trust 2026-1 entered into Asset Representations Review Agreement with Issuing Entity, PFS, as sponsor and servicer, and Clayton Fixed Income Services LLC valued at Asset Representations Review Agreement (effective 2026-06-12).","evidence_excerpt":"Asset Representations Review Agreement, by and among the Issuing Entity, PFS, as sponsor and servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer, relating to the review of certain representations relating to the Included Units.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Issuing Entity, PFS, as sponsor and servicer, and Clayton Fixed Income Services LLC"},{"label":"Value","value":"Asset Representations Review Agreement"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"},{"claim_id":"ebba896bacbf1e70e2450c1a88aece4ee343b337","claim":"Porsche Innovative Lease Owner Trust 2026-1 entered into Securities Account Control Agreement with Issuing Entity, PFS, as servicer, the Indenture Trustee and U.S. Bank National Association valued at Securities Account Control Agreement (effective 2026-06-12).","evidence_excerpt":"Securities Account Control Agreement, by and among the Issuing Entity, PFS, as servicer, the Indenture Trustee and U.S. Bank National Association, as securities intermediary, relating to the maintenance of certain accounts.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/2126256/000110465926073346/0001104659-26-073346-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Issuing Entity, PFS, as servicer, the Indenture Trustee and U.S. Bank National Association"},{"label":"Value","value":"Securities Account Control Agreement"},{"label":"Effective","value":"2026-06-12"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}