Porch Group Files 8-K for Other Events

TL;DR

Porch Group filed an 8-K on March 28th for events on March 27th. Details TBD.

AI Summary

Porch Group, Inc. filed an 8-K on March 28, 2024, reporting an event on March 27, 2024. The filing is primarily for "Other Events" and "Financial Statements and Exhibits." The company, formerly known as PropTech Acquisition Corp, is based in Seattle, WA.

Why It Matters

This 8-K filing indicates that Porch Group, Inc. is disclosing material information or events beyond routine quarterly reports, which could impact investors' understanding of the company's current status.

Risk Assessment

Risk Level: medium — 8-K filings often contain significant corporate events, and the specific nature of the 'Other Events' requires further investigation to assess the full risk.

Key Players & Entities

• Porch Group, Inc. (company) — Registrant
• PropTech Acquisition Corp (company) — Former company name
• March 27, 2024 (date) — Date of earliest event reported
• March 28, 2024 (date) — Date of report
• Seattle, Washington (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 PRCH The Nasdaq Stock Market LLC Indi
• $17.93 — llers of Floify at a price per share of $17.93 and guaranteed that the value of the sh
• $860,000 — gation in full and to pay approximately $860,000 in cash to Porch.com. Item 9.01. Fina

Filing Documents

• prch-20240327.htm (8-K) — 27KB
• 0001784535-24-000025.txt ( ) — 151KB
• prch-20240327.xsd (EX-101.SCH) — 2KB
• prch-20240327_lab.xml (EX-101.LAB) — 22KB
• prch-20240327_pre.xml (EX-101.PRE) — 13KB
• prch-20240327_htm.xml (XML) — 3KB

01. Other Events

Item 8.01. Other Events . Porch Group, Inc., through its wholly owned subsidiary Porch.com, Inc. (Porch.com and, collectively, the "Porch"), acquired Floify, LLC ("Floify") in October 2021, a company providing digital mortgage automation and point-of-sale software for mortgage companies and loan officers. As part of the closing, Porch issued approximately 550,000 shares to the sellers of Floify at a price per share of $17.93 and guaranteed that the value of the shares would equal or exceed 200% of such price on or prior to December 31, 2024 (the "True-Up Obligation"). The True-Up Obligation could be settled at Porch's option in cash, Porch common stock, or a combination thereof. On March 27, 2024, Porch.com entered into a settlement agreement and mutual release of claims (the "Settlement Agreement") with the sellers of Floify (the "Sellers") to settle a post-closing dispute. Pursuant to the Settlement Agreement, among other terms, the Sellers agreed to terminate the True-Up Obligation in full and to pay approximately $860,000 in cash to Porch.com.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PORCH GROUP, INC. By: /s/ Matthew Cullen Name: Matthew Cullen Title: General Counsel & Secretary Date: March 28, 2024