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.  ¨

Item 1.01. Entry into a Material Definitive Agreement.

In connection with the sale of the Class A-1, Class A-2a, Class A-2b, Class A-3 and Class A-4 Asset Backed Notes (collectively, the “Notes”) of Porsche Innovative Lease Owner Trust 2026-1 (the “Issuing Entity”), which are described in the Final Prospectus dated June 4, 2026 and which were issued on June 12, 2026 (the “Closing Date”), the Registrant is filing the agreements listed below, each dated as of the Closing Date. The Notes have an aggregate initial principal amount of $911,000,000. The Notes have been registered pursuant to the Securities Act of 1933, as amended, under a Registration Statement on Form SF-3 (Commission File Nos. 333-290988 and 333-290988-01).

1.            Transaction SUBI Supplement 2026-1 to Amended and Restated Trust Agreement, by and among Porsche Funding Limited Partnership (“PFLP”), as settlor and UTI holder, and Wilmington Trust Company, as Origination Trustee (the “Origination Trustee”), pursuant to which the Origination Trust issued the Transaction SUBI Certificate evidencing a special unit of beneficial interest in the Included Units.

2.            SUBI Sale Agreement, by and between PFLP, as seller, and Porsche Auto Funding LLC (“PAF”), as buyer, pursuant to which PFLP transferred to PAF the Transaction SUBI Certificate.

3.            Amended and Restated Trust Agreement, by and between PAF and Wilmington Trust, National Association (the “Owner Trustee”), which amended and restated the trust agreement, dated as of November 10, 2025, pursuant to which the Issuing Entity was created.

4.            SUBI Transfer Agreement, by and between PAF, as seller, and the Issuing Entity, as buyer, pursuant to which PAF transferred to the Issuing Entity the Transaction SUBI Certificate.

5.            Transaction SUBI Supplement 2026-1 to Amended and Restated Servicing Agreement, by and among PFS, as servicer, the Origination Trust and the Origination Trustee, pursuant to which PFS agreed to service the Included Units.

6.            Indenture, by and between the Issuing Entity and U.S. Bank Trust Company, National Association (the “Indenture Trustee”), pursuant to which the Notes were issued.

7.            Administration Agreement, by and among the Issuing Entity, PFS, as administrator, and the Indenture Trustee, relating to the provision by PFS of certain administration services relating to the Issuing Entity relating to the Notes.

8.            Securities Account Control Agreement, by and among the Issuing Entity, PFS, as servicer, the Indenture Trustee and U.S. Bank National Association, as securities intermediary, relating to the maintenance of certain accounts.

9.            Asset Representations Review Agreement, by and among the Issuing Entity, PFS, as sponsor and servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer, relating to the review of certain representations relating to the Included Units.

Attached as Exhibit 4.1 is the Indenture, as Exhibit 10.1 is the Transaction SUBI Supplement 2026-1 to Amended and Restated Trust Agreement, as Exhibit 10.2 is the Transaction SUBI Supplement 2026-1 to Amended and Restated Servicing Agreement, as Exhibit 10.3 is the SUBI Sale Agreement, as Exhibit 10.4 is the SUBI Transfer Agreement, as Exhibit 10.5 is the Amended and Restated Trust Agreement, as Exhibit 10.6 is the Administration Agreement, as Exhibit 10.7 is the Securities Account Control Agreement and as Exhibit 10.8 is the Asset Representations Review Agreement.

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 4.1

EXHIBIT 10.1

EXHIBIT 10.2

EXHIBIT 10.3

EXHIBIT 10.4

EXHIBIT 10.5

EXHIBIT 10.6

EXHIBIT 10.7

EXHIBIT 10.8