UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

PORSCHE INNOVATIVE LEASE OWNER TRUST 2026-1

(Exact name of Issuing Entity with respect to the Notes as specified in its charter)

Central Index Key Number: 0002126256

Commission File Number: 333-290988-02

PORSCHE LEASING LTD.

(Exact name of Issuing Entity with respect to Transaction SUBI Certificate as specified in its charter)

Central Index Key Number: 0002083410

Commission File Number: 333-290988-01

PORSCHE AUTO FUNDING LLC

(Exact name of Registrant/Depositor as specified in its charter)

Central Index Key Number: 0001541507

Commission File Number: 333-290988

PORSCHE FINANCIAL SERVICES, INC.

(Exact name of Sponsor as specified in its charter)

Central Index Key Number: 0002003320

(770) 290-2004

(Co-Registrants’ Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

The registrant has filed a prospectus, dated June 4, 2026, setting forth a description of the pool of leases and related leased vehicles and the structure of $144,000,000 aggregate principal amount of the Class A-1 Asset Backed Notes (the “Class A-1 Notes”), $278,500,000 aggregate principal amount of the Class A-2a Asset Backed Notes (the “Class A-2a Notes”), $75,000,000 aggregate principal amount of the Class A-2b Asset Backed Notes (the “Class A-2b Notes”), $353,500,000 aggregate principal amount of the Class A-3 Asset Backed Notes (the “Class A-3 Notes”), and $60,000,000 aggregate principal amount of the Class A-4 Asset Backed Notes (the “Class A-4 Notes” and collectively with the Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes and the Class A-3 Notes, the “Notes”) issued by Porsche Innovative Lease Owner Trust 2026-1.

This Current Report on Form 8-K is being filed in connection with the issuance of the Notes to satisfy an undertaking to file unqualified legality and tax opinions at the time of each takedown from the Registration Statement. Copies of the legality and tax opinions delivered by Mayer Brown LLP, counsel to Porsche Auto Funding LLC, in connection with the issuance of the Notes are attached hereto as Exhibits 5.1 and 8.1, respectively and a copy of the legality opinion delivered by Richards, Layton and Finger, P.A., counsel to Porsche Leasing Ltd., in connection with the issuance of the Notes is attached hereto as Exhibit 5.2.

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.

ATTACHMENTS / EXHIBITS

EXHIBIT 5.1

EXHIBIT 5.2

EXHIBIT 8.1