SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 8, 2019
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
185 Berry Street, Suite 5000
San Francisco, California 94107
(Address of principal executive offices, including zip code)
(Registrants telephone number, including area code)
(Former name or former address, if changed since last report)
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Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Name of each exchange
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|Class A Common Stock, par value of $0.00001 per share||LYFT||Nasdaq Global Select Market|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 8, 2019, Lyft, Inc. (the Company) announced that Lisa Blackwood-Kapral will join the Company as Chief Accounting Officer, effective immediately. Ms. Blackwood-Kapral will assume responsibility as principal accounting officer from Brian Roberts, who will continue his role as the Companys Chief Financial Officer and principal financial officer.
Prior to joining the Company, Ms. Blackwood-Kapral, 51, was Vice President and Chief Accounting Officer at Shutterfly, Inc., a retailer and manufacturing platform for personalized products and communications, from August 2015 to July 2019, having previously served as Vice President and Controller from November 2013 to August 2015. Prior to her employment with Shutterfly, Ms. Blackwood-Kapral previously served as the Vice President and Controller for Stella & Dot, a jewelry and fashion accessory company, from March 2012 to October 2013. She was the Controller for Boudin Bakeries, Inc. from September 2011 to March 2012, and prior to that held various financial positions with The Gymboree Corporation, a childrens apparel retailer, and Best Buy Co., Inc., a provider of technology products, services and solutions. Ms. Blackwood-Kapral is a certified public accountant and holds a B.S. in Accounting from the University of Minnesota.
There are no arrangements or understandings between Ms. Blackwood-Kapral and any other persons pursuant to which she was selected as Chief Accounting Officer. There are also no family relationships between Ms. Blackwood-Kapral and any director or executive officer of the Company and she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
In connection with her employment with the Company, the Company and Ms. Blackwood-Kapral entered into an offer letter (the Offer Letter), dated as of June 19, 2019. Pursuant to the terms of the Offer Letter, Ms. Blackwood-Kaprals base salary will be $315,000, with a one-time signing bonus of $100,000 that is subject to reimbursement in the event Ms. Blackwood-Kapral voluntarily terminates her employment with the Company within twelve months of the commencement of her employment. Ms. Blackwood-Kapral will also be granted restricted stock units covering shares of the Companys Class A common stock with a grant date value of approximately $2,250,000 that will vest over four years as described in the Offer Letter and subject to the terms of the Companys 2019 Equity Incentive Plan and the applicable restricted stock unit agreement. Ms. Blackwood-Kapral will also be eligible to become a participant in the Companys Executive Change in Control and Severance Plan (Change of Control Plan), subject to her execution of a participation agreement under the Change of Control Plan, all as previously filed by the Company as an Exhibit to its registration statement on Form S-1 filed with the Securities and Exchange Commission on March 1, 2019 (Form S-1).
The Company intends to enter into its standard form of indemnification agreement with Ms. Blackwood-Kapral. A form of the indemnification agreement was previously filed by the Company as Exhibit 10.1 to its Form S-1.
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.
|Date: July 8, 2019|
|Chief Financial Officer|