Sec Form 4/A Filing - Ehrlichman Matt @ Porch Group, Inc. - 2021-04-16

Insider filing report for Changes in Beneficial Ownership
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FORM 4/A
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Ehrlichman Matt
2. Issuer Name and Ticker or Trading Symbol
Porch Group, Inc. [ PRCH]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
CEO, Chairman and Founder
(Last) (First) (Middle)
2200 1ST AVENUE SOUTH, SUITE 300
3. Date of Earliest Transaction (MM/DD/YY)
04/16/2021
(Street)
SEATTLE, WA98134
4. If Amendment, Date Original Filed (MM/DD/YY)
04/20/2021
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 04/16/2021 A( 1 ) 2,470 A $ 0( 1 ) 8,665,379 D
Common Stock 04/16/2021 F( 2 )( 3 ) 155,674( 2 )( 3 ) D $ 19.3 8,509,705( 2 )( 3 ) D
Common Stock 04/16/2021 A( 1 ) 1,613 A $ 0( 1 ) 6,773,689 I( 4 ) See Footnote( 4 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Ehrlichman Matt
2200 1ST AVENUE SOUTH, SUITE 300
SEATTLE, WA98134
X X CEO, Chairman and Founder
Signatures
/s/ Matthew Cullen, as Attorney-in-fact 02/14/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Represents additional restricted shares of common stock ("Earnout Shares") of Porch Group, Inc. (the "Issuer") issued pursuant to the Earnout Share adjustment mechanics in 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.
( 2 )The original Form 4, filed on April 20, 2021, is being amended by this Form 4 amendment solely to correct an administrative error, which inadvertently listed 227,154 Earnout Shares as having been forfeited to satisfy tax obligations in connection with the vesting of 345,891 Earnout Shares previously reported on Table I due to Issuer meeting the $18.00 common stock price hurdle set forth in the Merger Agreement (and the corresponding vesting of one-third (1/3) of all Earnout Shares issued under the Merger Agreement) and the vesting of 333,334 restricted shares of common stock previously reported on Table I which are subject to the same vesting hurdles.
( 3 )Instead, the Form 4 should have listed the forfeiture of 155,674 Earnout Shares in connection with such vesting events. As a result of the administrative error, the number of shares beneficially owned by the reporting person following the corrected transaction reflects an increase in the number of shares reported as beneficially owned by the reporting person by 71,480 shares. This underreporting error was corrected in the Form 4 filing made on November 17, 2021.
( 4 )These shares of Common Stock are held by West Equities, LLC over which the Reporting Person has sole voting and dispositive power.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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