Posted 15 May, 2023
Life360, Inc. appointed new CEO
CEO Change detected for ticker OTC:LIFX in a 8-K filed on 15 May, 2023.
As previously disclosed, Charles (CJ) Prober will step down from his current positions as President of the Company and as Chief Executive Officer of the Company's subsidiary, Tile, Inc. following Ms. Antonoff's appointment as Chief Operating Officer. On May 12, 2023, the Company and Mr. Prober agreed to amend Mr. Prober's separation agreement to change his date of departure to July 7, 2023.
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Overview of Life360, Inc.
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Lauren Antonoff On May 15, 2023, Life 360, Inc. (the "Company") announced the appointment of Lauren Antonoff as its Chief Operating Officer, effective May 2, 2023. Since January 2022, Ms. Antonoff has been a Limited Partner at Operator Collective. Prior to joining Operator Collective, Ms. Antonoff, 52, served as President, Independents at GoDaddy Inc. ("GoDaddy") an internet domain registrar and web hosting company, from November 2019 to January 2022. Previously, she served as Senior Vice President & General Manager, Presence and Commerce at GoDaddy from March 2015 to November 2019. Prior to GoDaddy, Ms. Antonoff spent over 18 years at Microsoft Corporation, a computer software company, serving in various program manager roles culminating as Director, Program Management for SharePoint. Ms. Antonoff has also served on the Board of Directors of Momentive Global Inc. since August 2022. Ms. Antonoff received a Bachelor of Arts in Rhetoric and Political Science from the University of California, Berkeley. On May 2, 2023, Ms. Antonoff entered into an Employment Agreement with the Company (the "Employment Agreement"). In connection with Ms. Antonoff's appointment as Chief Operating Officer, she will receive an annual base salary of $450,000 with an annual performance bonus target of 50% of her annual base salary. Additionally, she will receive a one-time signing bonus of $80,000. Subject to the approval of the Compensation Committee (the "Committee") of the Board of Directors of the Company, Ms. Antonoff will also be granted restricted stock unit ("RSU") awards in the aggregate amount of $4 million. The RSUs will vest over three years, with one third of the RSUs vesting on the one-year anniversary of the vesting commencement date, and the remaining RSUs vesting in equal monthly installments thereafter. Upon the approval of the Committee, Ms. Antonoff is also entitled to an initial refresh RSU award in the aggregate of $2 million, at the earliest of (i) the grant date of equity refresh awards to other senior executives, or (ii) May 2, 2024, as well as a second refresh RSU grant award in the aggregate of $2 million, at the earliest of (i) the grant date of equity refresh awards to other senior executives for the fiscal year starting January 1, 2025, or (ii) May 2, 2025. The vesting of Ms. Antonoff's RSUs is contingent upon her continuous employment at the Company through each such vesting date. Ms. Antonoff will enter into an indemnification agreement with the Company consistent with the form of the existing indemnification agreement entered into between the Company and its executive officers. There are no arrangements or understandings between Ms. Antonoff and any other persons pursuant to which Ms. Antonoff was appointed as Chief Operating Officer of the Company. There are also no family relationships between Ms. Antonoff and any director or executive officer of the Company, and she has no direct or indirect interest in any transaction or proposed transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Effective Date of Departure of CJ Prober As previously disclosed, Charles (CJ) Prober will step down from his current positions as President of the Company and as Chief Executive Officer of the Company's subsidiary, Tile, Inc. following Ms. Antonoff's appointment as Chief Operating Officer. On May 12, 2023, the Company and Mr. Prober agreed to amend Mr. Prober's separation agreement to change his date of departure to July 7, 2023. A summary of Mr. Prober's separation agreement was previously disclosed in the Company's Current Form on Form 8-K, filed with the Securities and Exchange Commission ("SEC") on January 19, 2023. Such description does not purport to be complete and is qualified in its entirety by reference to the separation agreement, which will be filed with the SEC as an exhibit to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2023.
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