SoftBank holds 5.96M Lemonade shares, representing an 8.1% ownership

Rhea-AI Filing Summary

SoftBank Group Capital Ltd reports direct beneficial ownership of 5,958,698 shares of Lemonade, Inc. That holding represents 8.1% of Lemonade's common stock based on 73,266,170 shares outstanding as disclosed by the issuer. The Reporting Person states it has sole voting and sole dispositive power over these shares.

The filing also references the issuer's charter provision that any positive excess votes above 9.90% would be distributed pro rata to other stockholders; the disclosed position is below that threshold. The disclosure is a Schedule 13G amendment reporting ownership and voting/dispositive authority only.

Positive

• Reported beneficial ownership of 5,958,698 shares in Lemonade (LMND)
• Stake size equals 8.1% of outstanding common stock based on 73,266,170 shares
• Sole voting and dispositive power over the reported shares is expressly stated
• Disclosure filed as a Schedule 13G amendment, meeting SEC reporting requirements

Negative

• None.

Insights

Financial Analyst

TL;DR: SoftBank discloses a material, non-controlling 8.1% stake in Lemonade with sole voting and dispositive power.

The report shows SoftBank Group Capital Ltd directly holds 5,958,698 shares, equal to 8.1% of the company's outstanding common stock (73,266,170 shares used as the reference). This level of ownership surpasses the 5% reporting threshold and is material in size without indicating a controlling position. The filing is informational: it documents ownership and authority to vote or dispose of the shares rather than announcing strategic actions.

Corporate Governance Expert

TL;DR: Disclosure confirms sole control over votes and dispositions for an 8.1% stake; charter vote-distribution rule noted.

The Schedule 13G amendment confirms the Reporting Person has sole voting and dispositive power for all 5,958,698 shares. The filing also cites an Article IV provision that redistributes any voting rights in excess of 9.90% pro rata to other shareholders, which is a structural governance constraint explicitly referenced by the issuer. The document is a formal ownership disclosure without operational or transactional detail.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Lemonade, Inc.

(Name of Issuer)

Common Stock, $0.00001 par value per share

(Title of Class of Securities)

52567D107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 52567D107

1

Names of Reporting Persons

SoftBank Group Capital Ltd

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,958,698.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,958,698.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,958,698.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.1 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Lemonade, Inc.
(b)	Address of issuer's principal executive offices: 5 Crosby Street, 3rd Floor, New York, NY, 10013
Item 2.
(a)	Name of person filing: SoftBank Group Capital Ltd (the "Reporting Person")
(b)	Address or principal business office or, if none, residence: The principal business address of the Reporting Person is 69 Grosvenor Street, London, England, United Kingdom W1K 3JP.
(c)	Citizenship: England and Wales
(d)	Title of class of securities: Common Stock, $0.00001 par value per share
(e)	CUSIP No.: 52567D107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information contained on the cover page to this Schedule 13G is incorporated by reference into this Item 4. The ownership information presented herein represents beneficial ownership of shares of Common Stock of the Issuer as of June 30, 2025, based upon 73,266,170 shares of Common Stock outstanding as of May 5, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 6, 2025. The Reporting Person directly holds 5,958,698 shares of Common Stock. On March 31, 2023, the joint investment committee of the Issuer, to which the Reporting Person delegated voting and dispositive power over its shares of Common Stock, was dissolved. As a result, no other individual may be deemed to share beneficial ownership of the securities reported herein. Pursuant to Article IV, Section D of the Issuer's Amended and Restated Certificate of Incorporation, the positive excess number of votes of the Reporting Person over 9.90% of the total number of votes that may be cast by all the then issued and outstanding shares of Common Stock and shares of the Issuer's preferred stock shall be distributed pro rata among all of the other stockholders not subject to the restrictions set forth in Section D, provided that if any such distribution would result in any other stockholder receiving voting rights in excess of those permitted to be exercised by such stockholder, any such excess number of votes shall itself be distributed pro rata as set forth in Article IV, Section D.
(b)	Percent of class: 8.1%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5,958,698
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5,958,698
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SoftBank Group Capital Ltd

Signature:	/s/ Stephen Lam
Name/Title:	Stephen Lam, Director
Date:	08/14/2025

FAQ

How many Lemonade (LMND) shares does SoftBank Group Capital Ltd report owning?

5,958,698 shares of Lemonade common stock are reported as beneficially owned by SoftBank Group Capital Ltd.

What percentage of Lemonade (LMND) does SoftBank own according to the filing?

8.1% of the outstanding common stock, based on 73,266,170 shares used for the calculation.

Does SoftBank have voting or dispositive power over the shares reported in LMND?

Yes. The filing states SoftBank Group Capital Ltd has sole voting power and sole dispositive power for the 5,958,698 shares.

Under which SEC form was SoftBank's ownership of LMND reported?

The ownership is reported on a Schedule 13G amendment (Amendment No. 3) filed with the SEC.

Is there any charter provision affecting SoftBank's voting rights disclosed in the filing?

Yes. The filing cites an Article IV provision that would distribute any positive excess votes above 9.90% pro rata among other stockholders.