secwatch.observer — SEC 8-K summary
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Issuer:     Porch Group, Inc. (PRCH)
CIK:        0001784535
Form:       8-K
Filed at:   2024-04-09T23:59:59+00:00
Accession:  0001784535-24-000039
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Porch Group grants $10.57M in 2024 LTI to CEO, CFO, COO; 75% PRSUs tied to TSR, EBITDA, revenue
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- CEO Ehrlichman: $6.75M total (1,562,017 PRSUs + 520,672 RSUs); CFO Tabak: $820k (189,756 PRSUs + 63,252 RSUs); COO Neagle: $3M (694,230 PRSUs + 231,410 RSUs).
- PRSUs (75% weight) vest based on TSR vs S&P SmallCap 600, 2026 Adjusted EBITDA, and 2026 revenue with 50%-200% payout range.
- RSUs (25% weight) vest 25% on April 5, 2025, then 1/6th every 6 months for 36 months.
- Grant value priced using 60-trading day VWAP ending April 4, 2024, aligning with annual employee equity awards.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1784535/000178453524000039/0001784535-24-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1784535/000178453524000039/prch-20240405.htm
  HTML page:      https://secwatch.observer/filing/0001784535-24-000039

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer