[Form 4] Lemonade, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Daniel A. Schreiber, Chief Executive Officer and Director of Lemonade, Inc. (LMND), was granted a stock option on 08/21/2025 covering 127,780 underlying shares with an exercise price of $59.74. The option is exercisable in 12 equal quarterly installments beginning 08/18/2025 and expires 08/18/2035, and the shares are reported as directly owned. Following the reported grant, the filing shows 127,780 common shares underlying the option beneficially owned by the reporting person. The grant is subject to continued employment through each vesting date.

Positive

• 127,780-option grant is clearly disclosed with exercise price and expiration
• Vesting schedule specified as 12 equal quarterly installments beginning 08/18/2025
• Reporting person identified as CEO and Director, and ownership form listed as Direct

Negative

• None.

Insights

Financial Analyst

TL;DR: A routine executive option grant: 127,780 options at $59.74, vesting quarterly over three years, expiring 2035.

The Form 4 documents a non-derivative disclosure of a stock option award to the CEO/Director representing 127,780 underlying common shares with an exercise price of $59.74 and an expiration date of 08/18/2035. Vesting begins 08/18/2025 in 12 equal quarterly installments, subject to continued employment. This filing is a standard Section 16 disclosure showing direct beneficial ownership of the optioned shares following the transaction. There are no accompanying cash proceeds or exercises reported.

Corporate Governance Expert

TL;DR: Governance disclosure is complete for a single option grant; vesting tied to continued employment.

The report identifies the reporting person as both CEO and Director and provides clear vesting terms: 12 equal quarterly installments commencing 08/18/2025. The Form 4 includes signature by an attorney-in-fact and shows direct ownership of the underlying shares post-grant. The filing contains required fields and an explicit explanation of the vesting schedule; no amendments or additional arrangements are disclosed.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schreiber Daniel A.

(Last) (First) (Middle)

C/O LEMONADE, INC.

5 CROSBY STREET, 3RD FLOOR

(Street)

NEW YORK NY 10013

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Lemonade, Inc. [ LMND ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
STOCK OPTION	$59.74	08/21/2025		A		127,780		(1)	08/18/2035	COMMON STOCK	127,780	$0	127,780	D

Explanation of Responses:

1. The option will vest and become exercisable in 12 equal quarterly installments beginning on August 18, 2025, subject to the Reporting Person's continued employment with the Issuer through each applicable vesting date.

Remarks:

	/s/ Timothy Bixby, Attorney-in-Fact for Daniel Schreiber	08/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did LMND insider Daniel Schreiber report on the Form 4?

The Form 4 reports a stock option grant of 127,780 underlying shares to Daniel Schreiber with an exercise price of $59.74.

When is the option exercisable and when does it expire?

The option vests in 12 equal quarterly installments beginning 08/18/2025 and has an expiration date of 08/18/2035.

How many shares are beneficially owned following the reported transaction?

The filing shows 127,780 shares underlying the option beneficially owned following the reported transaction.

What is the relationship of the reporting person to Lemonade, Inc. (LMND)?

The reporting person is identified as both a Director and the Chief Executive Officer of Lemonade, Inc.

Was the Form 4 filed jointly or by one reporting person?

The filing indicates it was filed by one reporting person.