Tabak Shawn 4

What Happened Shawn Tabak, CFO of Porch Group, was credited with performance-based restricted stock units (PRSU) that converted to common stock on March 19, 2026. The Form 4 shows an award/acquisition of 123,980 shares at $0.00 and related derivative exercise/conversion entries of 123,986 shares acquired and 123,986 shares disposed, all at $0.00 (no cash paid). These shares were earned under PRSUs tied to performance goals and remain subject to a service-based vesting condition through April 7, 2026.

Key Details

• Transaction date(s): March 19, 2026; Form 4 filed March 20, 2026 (timely filing).
• Reported share counts and prices: Award 123,980 shares @ $0.00; derivative conversion 123,986 shares acquired @ $0.00 and 123,986 shares disposed @ $0.00. (Small 6-share discrepancy between award and conversion entries is shown in the filing.)
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: Awards were earned under PRSUs tied to share price, revenue, and Adjusted EBITDA (F1–F4). Earned shares remain subject to service vesting through April 7, 2026.
• Tax withholding/settlement: Porch intends to settle vested shares in multiple transactions from April 7 to May 21, 2026 to reduce market impact and will use a sell-to-cover approach (issuer sells shares to satisfy withholding) as the sole method for tax withholding.

Context These entries reflect earned and converted performance RSUs rather than an open-market purchase or discretionary sale by the insider. The derivative “exercise/conversion” and the reported disposition align with the company’s planned sell-to-cover tax withholding—meaning some shares will be sold by the issuer to cover taxes, not necessarily a voluntary sale by the CFO. Awards based on performance metrics are common compensation events and do not by themselves indicate the insider is buying or selling for investment reasons.