Life360, Inc.
For the period ended Mar 31, 2025. Filed May 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 12, 2025
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Item 5. Other Information
(a) None
(b) None
(c)Rule 10b5-1 Trading Plans
Our officers, as defined in Rule 16a-1(f) of the Exchange Act (“Section 16 Officers”), may from time to time enter into plans for the purchase or sale of our common stock that are intended to satisfy the affirmative defense in Rule 10b5-1(c) of the Exchange Act. During the three months ended March 31, 2025, the following Section 16 Officers adopted a “Rule 10b5-1 trading arrangement” as defined in Item 408 of Regulation S-K of the Exchange Act:
| Name | Title | Action | Adoption Date | Expiration Date | Total number of securities to be sold |
|---|---|---|---|---|---|
| Charles (CJ) Prober | Director | Adoption | 3/14/2025 | 11/30/2026 | Up to 142,752 shares |
| Brit Morin | Director | Adoption | 3/17/2025 | 3/16/2026 | Up to 48,032 shares |
No other Section 16 Officers or directors adopted and/orterminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as defined in Item 408 of Regulation S-K of the Exchange Act, during the three months ended March 31, 2025.
Departure of Named Executive Officer
On May 9, 2025, the Company and Susan Stick, the Company’s General Counsel and Corporate Secretary, mutually determined that, effective as of June 2, 2025, Ms. Stick would no longer serve in her roles as the Company’s General Counsel and Corporate Secretary. In connection with her separation and subject to Ms. Stick’s execution and non-revocation of a release of claims in favor of the Company, Ms. Stick will receive (i) severance payments equal to $187,500, representing six (6) months of her base salary, and $84,375, representing an amount equal to six-months of her 2025 target annual bonus, and (ii) up to six-months of reimbursements for continued coverage under the Company’s health plans. In addition, in order to facilitate an orderly transition of her duties, Ms. Stick will serve as a consultant to the Company through June 2, 2026, with her outstanding restricted stock units to continue to vest during the term of Ms. Stick’s service as a consultant.
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