Life360 Files Proxy Statement Supplement for 2024 Annual Meeting

TL;DR

Life360 dropped proxy docs for their 2024 shareholder meeting. Vote your shares!

AI Summary

Life360, Inc. filed a DEFA14A on May 17, 2024, as a supplement to its Notice of Annual Meeting of Stockholders and Definitive Proxy Statement. This filing concerns the 2024 Annual Meeting of Stockholders, scheduled to be held on Thursday. The company is a Delaware-incorporated entity focused on computer processing and data preparation services.

Why It Matters

This filing provides important information to Life360 shareholders regarding the upcoming 2024 Annual Meeting, influencing their voting decisions on corporate matters.

Risk Assessment

Risk Level: low — This is a routine proxy filing, providing supplemental information for an upcoming shareholder meeting, and does not indicate any immediate operational or financial risks.

Key Players & Entities

• Life360, Inc. (company) — Registrant and filer of the proxy statement
• 0001193125-24-141069 (filing_id) — Accession number for the SEC filing
• 20240517 (date) — Filing date and date as of change
• 1900 SOUTH NORFOLK STREET, SUITE 310 (address) — Business and mailing address of Life360, Inc.
• SAN MATEO, CA 94403 (address) — City, State, and Zip code of Life360, Inc.

FAQ

Key Financial Figures

• $1,000 — ion only exceeds the 50th percentile by $1,000. Similarly, the equity compensation amo
• $100 million — the primary raise to be no more than US$100 million. [] Though the Company has taken these

Filing Documents

• d816403ddefa14a.htm (DEFA14A) — 35KB
• 0001193125-24-141069.txt ( ) — 36KB

From the Filing

DEFA14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 LIFE360, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 LIFE360, INC. SUPPLEMENT TO NOTICE OF ANNUAL MEETING OF STOCKHOLDERS AND DEFINITIVE PROXY STATEMENT FOR THE 2024 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON THURSDAY, MAY 30, 2024 (AUSTRALIA) AND WEDNESDAY, MAY 29, 2024 (U.S.) May 17, 2024 Life360, Inc. (the Company) is filing this supplement to update information contained in the Companys Definitive Proxy Statement filed with the U.S. Securities and Exchange Commission (the SEC) on April 16, 2024 (the Proxy Thursday, May 30, 2024 (Australia) and Wednesday, May 29, 2024 (U.S.), or any adjournment or postponement thereof. While we recognize that our stockholders make their voting decisions independently, and often apply their own internal guidelines, we also understand that the reports of proxy advisory firms are utilized as research tools by many of our stockholders to analyze the proposals presented for consideration at our annual meeting of stockholders. In this regard, we believe it is imperative that such reports be supplemented with more complete information. Glass Lewis & Co. (Glass Lewis) has recommended voting against certain proposals included in our Proxy Statement, including Proposal 2 (Approval of Grant of RSUs and PRSUs to Chris Hulls) and Proposal 14 (Approval of Amendment to the Certificate of Incorporation to increase the number of authorized shares of common stock). For the reasons set forth in our response to Glass Lewis, we disagree with Glass Lewis voting recommendations and have submitted the below response for their consideration. We encourage you to read our Proxy Statement as well as the additional soliciting material we have filed with the SEC. This supplemental material is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. ** *** Dear Stockholder, We are taking this opportunity to provide our response, and some additional context, on the voting recommendations contained in the Glass Lewis proxy report for the upcoming 2024 Annual Meeting of Stockholders. We believe it is important that stockholders be fully informed before making their voting decisions on the proposals contained in the Companys Definitive Proxy Statement filed with the U.S. Securities and Exchange Commission (SEC) and the Australian Securities Exchange (ASX). Proposal 2 Approval of grant of RSUs and PRSUs to Chris Hulls Glass Lewis has recommended that stockholders vote against this proposal on the basis of the increase in the overall award quantum and the one-year performance conditions. Life360 response To ensure our CEOs compensation reflects industry standards and to improve the Companys overall remuneration process, we partnered with independent compensation consultants at Compensia Inc. in the Fall of 2023 to holistically evaluate our executive compensation practices. With the assistance of Compensia, we identified a relevant peer group comprising 21 companies in the application software, internet services, and interactive media industries that are similar to us in terms of revenue, market capitalization, profitability and headcount. Following a rigorous assessment of compensation surveys and public filings related to executive compensation, our Board of Directors established a competitive cash and equity compensation package for Mr. Hulls. For example, Mr. Hulls base salary, which was unchanged between 2022 and 2023, is at the 50th percentile when compared to other CEOs in the peer group and his total cash compensation only exceeds the 50th percentile by $1,000. Similarly, the equity compensation amount for Mr. Hulls sits between the 25th and 50th percentile when compared to CEOs in the peer group. The reduced size of the equity compensation for Mr. Hulls is reflective of the shortened performance period applicable to the equity compensation awarded to Mr. Hulls. Accordingly, we

View Full Filing

View this DEFA14A filing on SEC EDGAR