Park West Asset Management LLC's Form 4 filing
Porch Group, Inc. (PRCH) · filed Feb 14, 2023
- Accession no.
- 0001493152-23-005095
- Filed
- Feb 14, 2023
- Trade date
- Jan 20-25, 2023
- Filing delay
- 25 daysLate
- Rule 10b5-1 plan
- Not on the form (before 2023)
This filing lists 4 non-derivative transactions and 5 derivative transactions. Open-market purchases total $5.36M. It was filed 25 days after the trade, past the 2-business-day deadline.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Park West Asset Management LLCCIK 0001386928 | 10% Owner |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Jan 20, 2023 | Common stock, par value $0.0001 | PPurchaseAcquired | +474,220 | $2.46F2 | +$1,166,581.2 | 10,569,083 | Indirect | |
| Jan 23, 2023 | Common stock, par value $0.0001 | PPurchaseAcquired | +530,750 | $2.60F3 | +$1,379,950 | 11,099,833 | Indirect | |
| Jan 24, 2023 | Common stock, par value $0.0001 | PPurchaseAcquired | +760,000 | $2.46F4 | +$1,869,600 | 11,859,833 | Indirect | |
| Jan 25, 2023 | Common stock, par value $0.0001 | PPurchaseAcquired | +407,874 | $2.31F5 | +$942,188.94 | 12,267,707 | Indirect |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Jan 20, 2023 | Common stock, par value $0.0001 | SSaleDisposed | −527,184 | –F6 | – | 1,898,624 | Indirect | |
| Jan 20, 2023 | Common stock, par value $0.0001 | SSaleDisposed | −172,816 | –F7 | – | 0 | Indirect | |
| Jan 23, 2023 | Common stock, par value $0.0001 | SSaleDisposed | −730,750 | –F6 | – | 1,167,874 | Indirect | |
| Jan 24, 2023 | Common stock, par value $0.0001 | SSaleDisposed | −760,000 | –F6 | – | 407,874 | Indirect | |
| Jan 25, 2023 | Common stock, par value $0.0001 | SSaleDisposed | −407,874 | –F6 | – | 0 | Indirect |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F2
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.295 to $2.565 per share, inclusive. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein.
Referenced by the price of 1 transaction in Table I.
- F3
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.40 to $2.75 per share, inclusive. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein.
Referenced by the price of 1 transaction in Table I.
- F4
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.375 to $2.785 per share, inclusive. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein.
Referenced by the price of 1 transaction in Table I.
- F5
The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.21 to $2.42 per share, inclusive. The Reporting Person undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein.
Referenced by the price of 1 transaction in Table I.
- F6
On November 23, 2022 the Reporting Person entered into an equity swap agreement with a third party. The reported equity swap was on a basket of securities, which included shares of the Issuer's common stock. Under the equity swap, the third party was obligated to pay to the Reporting Person the aggregate increase, if any, in value of the basket of securities between November 23, 2022 and December 31, 2025. In connection with the optional partial early termination of the equity swap agreement, the third party became obligated to pay to the Reporting Person the excess of the price per share of the Issuer's common stock on each of January 20, 2023, January 23, 2023, January 24, 2023 and January 25, 2023 over the price per share of the Issuer's common stock on November 23, 2022.
Referenced by the price of 4 transactions in Table II.
- F7
On November 23, 2022 the Reporting Person entered into an equity swap agreement with a third party. The reported equity swap was on a basket of securities, which included shares of the Issuer's common stock. Under the equity swap, the third party was obligated to pay to the Reporting Person the aggregate increase, if any, in value of the basket of securities between November 23, 2022 and December 30, 2025. In connection with the optional partial early termination of the equity swap agreement, the third party became obligated to pay to the Reporting Person the excess of the price per share of Issuer's common stock on January 20, 2023 over the price per share of the Issuer's common stock on November 23, 2022.
Referenced by the price of 1 transaction in Table II.