Lemonade (LMND) Form 4: 38,334 RSUs Awarded to COO, Vesting Starts Aug 2025

Rhea-AI Filing Summary

Adina Eckstein, Chief Operating Officer of Lemonade, Inc. (LMND), was granted 38,334 restricted stock units on 08/21/2025. Each restricted stock unit represents a contingent right to receive one share of Lemonade common stock and will vest in 12 equal quarterly installments beginning August 1, 2025, subject to the reporting person's continued employment through each vesting date. After the reported grant, the filing shows the reporting person beneficially owns 227,987 shares of common stock. The Form 4 was signed by Timothy Bixby as attorney-in-fact on 08/25/2025.

Positive

• 38,334 restricted stock units granted as disclosed
• Clear vesting schedule: 12 equal quarterly installments beginning August 1, 2025
• Post-grant beneficial ownership disclosed: 227,987 shares reported

Negative

• None.

Insights

Financial Analyst

TL;DR: A routine executive equity grant of 38,334 RSUs, vesting quarterly over three years, increases reported beneficial ownership to 227,987 shares.

The grant is documented as restricted stock units with a specified vesting schedule starting August 1, 2025 and contingent on continued employment. This is a standard compensation mechanism to align long-term incentives with shareholder interests. The Form 4 shows a single non-derivative award and no cash consideration recorded. For investors tracking insider holdings, the filing updates the COOs reported stake in Lemonade.

Corporate Governance Expert

TL;DR: Disclosure is complete for the reported RSU award and vesting schedule; filing follows Section 16 reporting requirements.

The Form 4 clearly states the award type (restricted stock units), the number of units (38,334), the vesting cadence (12 equal quarterly installments beginning August 1, 2025), and the condition (continued employment). The filing is signed by an attorney-in-fact and reports post-transaction beneficial ownership of 227,987 shares, satisfying transparency expectations for officer compensation changes.

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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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^*

Eckstein Adina

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating 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
COMMON STOCK	08/21/2025		A		38,334(1)	A	$0	227,987	D

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

Explanation of Responses:

1. Represents an award of restricted stock units, which will vest in 12 equal quarterly installments beginning on August 1, 2025, subject to the Reporting Person's continued employment with the Issuer through each applicable vesting date. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

Remarks:

	/s/ Timothy Bixby, Attorney-in-Fact for Adina Eckstein	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 was reported on the Form 4 for Lemonade (LMND)?

The Form 4 reports a grant of 38,334 restricted stock units to Adina Eckstein dated 08/21/2025 and filed 08/25/2025.

How do the restricted stock units vest for the LMND grant?

The RSUs vest in 12 equal quarterly installments beginning on August 1, 2025, subject to continued employment.

How many shares does Adina Eckstein beneficially own after the reported transaction?

The filing shows 227,987 shares of common stock beneficially owned following the reported transaction.

Does the Form 4 indicate any cash price paid for the RSUs?

The Form 4 records the RSU award with a price of $0, indicating an equity grant rather than a cash purchase.

Who signed the Form 4 and when was it signed?

The form was signed by Timothy Bixby, Attorney-in-Fact for Adina Eckstein, on 08/25/2025.