Porch Group Appoints New CFO, Elects Directors
Ticker: PRCH · Form: 8-K · Filed: 2024-04-09T00:00:00.000Z
Sentiment: neutral
Topics: management-change, board-election
TL;DR
Porch Group shakes up leadership: new CFO Matthew Reilly in, directors Kim & Benyamin elected.
AI Summary
Porch Group, Inc. announced on April 5, 2024, changes in its executive and director roles. The company appointed Matthew Reilly as Chief Financial Officer and elected new directors, including David M. K. Kim and David M. Benyamin. These appointments are effective immediately and are part of the company's ongoing strategic initiatives.
Why It Matters
Changes in key financial and leadership positions can signal shifts in company strategy and financial management, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in executive and director roles can introduce uncertainty regarding future strategy and financial stability.
Key Players & Entities
- Porch Group, Inc. (company) — Registrant
- Matthew Reilly (person) — Appointed Chief Financial Officer
- David M. K. Kim (person) — Elected Director
- David M. Benyamin (person) — Elected Director
- April 5, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new Chief Financial Officer of Porch Group, Inc.?
Matthew Reilly has been appointed as the new Chief Financial Officer of Porch Group, Inc.
When was the earliest event reported in this Form 8-K filing?
The earliest event reported in this Form 8-K filing was on April 5, 2024.
Who are the newly elected directors of Porch Group, Inc. mentioned in the filing?
David M. K. Kim and David M. Benyamin are the newly elected directors mentioned in the filing.
What is the principal executive office address for Porch Group, Inc.?
The principal executive office address for Porch Group, Inc. is 411 1st Avenue S., Suite 501, Seattle, Washington 98104.
What is the Commission File Number for Porch Group, Inc.?
The Commission File Number for Porch Group, Inc. is 001-39142.
Filing Stats: 1,052 words · 4 min read · ~4 pages · Grade level 11.4 · Accepted 2024-04-09 16:14:59
Key Financial Figures
- $0.0001 — ch registered Common stock, par value $0.0001 PRCH The Nasdaq Stock Market LLC Indi
- $6,750,000 — chman, with an aggregate grant value of $6,750,000, consisting of 1,562,017 PRSUs with a g
- $5,062,500 — f 1,562,017 PRSUs with a grant value of $5,062,500 and 520,672 RSUs with a grant value of
- $1,687,500 — and 520,672 RSUs with a grant value of $1,687,500. Mr. Tabak with an aggregate grant va
- $820,000 — Tabak with an aggregate grant value of $820,000, consisting of 189,756 PRSUs with a gra
- $615,000 — of 189,756 PRSUs with a grant value of $615,000 and 63,252 RSUs with a grant value of $
- $205,000 — 0 and 63,252 RSUs with a grant value of $205,000. Mr. Neagle with an aggregate grant v
- $3,000,000 — Neagle with an aggregate grant value of $3,000,000, consisting of 694,230 PRSUs with a gra
- $2,250,000 — of 694,230 PRSUs with a grant value of $2,250,000 and 231,410 RSUs with a grant value of
- $750,000 — and 231,410 RSUs with a grant value of $750,000. The grant values were denominated in
Filing Documents
- prch-20240405.htm (8-K) — 37KB
- 0001784535-24-000039.txt ( ) — 163KB
- prch-20240405.xsd (EX-101.SCH) — 2KB
- prch-20240405_lab.xml (EX-101.LAB) — 22KB
- prch-20240405_pre.xml (EX-101.PRE) — 13KB
- prch-20240405_htm.xml (XML) — 3KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1# Form of Performance-Based Restricted Stock Unit Award Notice and Agreement (Initial Awards in 2022)(incorporated by reference to Exhibit 10.2 of the Company's Form 8-K (File No. 001-39142), filed with the SEC on May 23, 2022) . 10.2# Form of Restricted Stock Unit Award Agreement under Porch Group, Inc. 2020 Stock Incentive Plan (incorporated by reference to Exhibit 10.2 of the Company's Form 10-Q (File No. 001-39142), filed with the SEC on August 16, 2021). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) # Indicates management contract or compensatory plan
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 and Secretary Date: April 9, 2024