Lemonade Inc. filed SEC Form 8-K: Termination of a Material Definitive Agreement, Other Events
$LMND
Property-Casualty Insurers
Finance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): April 4, 2025
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(844 ) 733-8666
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N/A
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Item 1.02 | Termination of a Material Definitive Agreement. | ||||
On April 4, 2025, pursuant to its terms and conditions, Lemonade, Inc. (the “Company”) terminated the Warrant Agreement, dated October 14, 2022 with Chewy Insurance Services, LLC ( the “Warrantholder” or "Chewy"). The Warrantholder previously vested and exercised 181,191 warrant shares and the Company will cancel the remaining 3,170,834 shares. The Company and Chewy also terminated the Omnibus Agreement, dated October 14, 2022. The agency agreement between the Company, Lemonade Insurance Agency, LLC, Lemonade Insurance Company and Chewy will both remain in effect.
Item 8.01 | Other Events. | ||||
Lemonade, Inc. (the “Company”) recently concluded that a technical issue in its car insurance quote flow likely led to the exposure of certain data received by an API (application programming interface) call to a third party data provider. As part of the quote flow, information is sent to and from a server to a user’s browser, and includes data required to generate a quote. This issue caused certain data to be transmitted without Lemonade’s standard means of protection. As a result, Lemonade will be notifying approximately 190,000 individuals whose driver’s license numbers were sent in unencrypted form (the “Incident”). Once discovered, the Company took appropriate measures to resolve the vulnerability.
Based on the Company's current knowledge of the facts and circumstances related to the Incident, the Company’s operations were not compromised, nor was Lemonade customer data targeted, and the Company has determined that the Incident is not material. The Company will be notifying regulators of this Incident, consistent with its legal obligations.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LEMONADE, INC. | ||||||||||||||
Date: April 9, 2025 | By: | /s/ Tim Bixby | ||||||||||||
| Tim Bixby | ||||||||||||||
| Chief Financial Officer | ||||||||||||||