Business
Porch Group Announces Insider Open-Market Stock Purchases
SEATTLE, May 18, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. (“Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing
About this update from Porch Group, Inc.
[{"type":"text","content":"SEATTLE, May 18, 2022 (GLOBE NEWSWIRE) -- Porch Group, Inc. (“Porch Group” or “the Company”) (NASDAQ: PRCH), a leading vertical software company reinventing the home services and insurance industries, announced today that Matt Ehrlichman, Founder, Chairman and CEO of Porch Group, has purchased 273,128 shares of Porch Group common stock for a total purchase price of approximately $1 million. The shares were purchased on the open market May 12, 2022. This purchase is incremental to Mr. Ehrlichman's recent prior open market purchase of approximately $1 million of the Company’s common stock on March 17, 2022. As a result of both purchases, Mr. Ehrlichman beneficially owns approximately 18.1 million shares, representing approximately 17.8% of the total outstanding shares of Porch Group common stock. Additionally, a number of additional members of company management from business unit leaders to senior management as well as independent Board members also purchased Porch Group common stock on or around May 12, 2022. These purchases were made in open market transactions using personal funds, and transactions were completed individually and not in concert. “Given our success on recent milestones that Porch Group has achieved on multiple fronts, including a strong first quarter and the inclusion of our proprietary data in insurance underwriting, I have never been more optimistic with respect to the future of the Company,” said Ehrlichman. “Our team is confident about what is ahead.” About Porch GroupSeattle-based Porch Group, the vertical software platform for the home, provides software and services to more than 25,500 home services companies such as home inspectors, mortgage companies and loan officers, title companies, moving companies, real estate agencies, and utility companies, and warranty companies. Through these relationships and its multiple brands, Porch provides a moving concierge service to homebuyers, helping them save time and make better decisions on critical services, including insurance, warranty, moving, security, TV/internet, and home repair and improvement, and more. To learn more about Porch, visit porchgroup.com or porch.com. Forward-Looking StatementsThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “intend, ...