LYFT Form 4: Chief Legal Officer sells shares under 10b5-1 plan

Rhea-AI Filing Summary

The filing shows that Catherine Llewellyn, Chief Legal and Business Officer and Corporate Secretary of Lyft, sold 14,606 shares of Class A common stock on 09/15/2025 at a price of $20.00 per share under a Rule 10b5-1 trading plan adopted on May 23, 2025. After the sale she beneficially owns 835,782 shares, some held in a living trust for which she is sole trustee and lifetime beneficiary. The filing also notes that certain holdings are restricted stock units (RSUs) that convert to shares subject to vesting and conditions.

Positive

• Sale executed under a pre-established Rule 10b5-1 plan, reducing likelihood of opportunistic timing
• Reporting person retains a substantial beneficial holding of 835,782 shares after the sale
• Filing discloses indirect ownership via living trust and RSU status, improving transparency

Negative

• Reporting person disposed of 14,606 Class A shares, increasing public float by that amount

Insights

Securities Analyst

TL;DR: Insider sale was routine under a pre-established 10b5-1 plan; remaining stake remains material.

The reported sale of 14,606 Class A shares at $20 per share appears to be an execution under a previously adopted Rule 10b5-1 plan, which typically limits informational inference about company-specific, undisclosed developments. The reporting person retains a substantial beneficial position of 835,782 shares, including holdings in a living trust and unvested RSUs. From an investor-impact perspective this disclosure is procedural rather than a timed signal, but it does modestly increase public float by the sold amount. No derivative transactions or other compensatory actions are reported in this Form 4.

Corporate Governance Expert

TL;DR: Disclosure is complete for this transaction and identifies trust and RSU holdings; governance implications are limited.

The Form 4 clearly identifies the reporting officer, the nature of indirect holdings (a living trust), and that certain securities are RSUs subject to vesting. Use of a 10b5-1 plan reduces concerns about opportunistic insider timing. There are no indications of unusual governance actions, executive departures, or compensatory grants in this filing. For governance review, the document provides the expected details to assess potential conflicts or insider liquidity without raising immediate red flags.

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

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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).

1. Name and Address of Reporting Person^*

Llewellyn Lindsay Catherine

(Last) (First) (Middle)

C/O LYFT, INC.

185 BERRY STREET, SUITE 400

(Street)

SAN FRANCISCO CA 94107

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Lyft, Inc. [ LYFT ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEE REMARKS

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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
Class A Common Stock	09/15/2025		S(1)		14,606	D	$20	835,782(2)(3)	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. These shares were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 23, 2025.

2. A portion of the shares are held by a living trust for which the Reporting Person is the sole trustee and lifetime beneficiary.

3. Certain of these securities are restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Class A Common Stock, subject to the applicable vesting schedule and conditions of each RSU.

Remarks:

Officer title: Chief Legal and Business Officer, Corporate Secretary

	/s/ Kevin C. Chen, by power of attorney	09/17/2025
	** 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 Lyft insider Catherine Llewellyn report on Form 4 (LYFT)?

The Form 4 reports that Catherine Llewellyn sold 14,606 Class A shares on 09/15/2025 at $20.00 per share under a Rule 10b5-1 plan.

How many Lyft shares does the reporting officer own after the transaction?

After the reported sale the officer beneficially owns 835,782 shares of Lyft Class A common stock.

Was the sale part of an automatic trading plan?

Yes. The sale was executed pursuant to a Rule 10b5-1 trading plan adopted on May 23, 2025.

Are any of the reported holdings restricted or held indirectly?

Yes. The filing states some shares are held in a living trust for which the reporting person is sole trustee and lifetime beneficiary, and some are restricted stock units (RSUs) subject to vesting.

Does the Form 4 report any derivative transactions or option exercises?

No. Table II for derivative securities shows no entries; only a non-derivative sale of Class A common stock is reported.