Life360 CEO Sells Partial Stake in the Company

Life360, Inc. (NASDAQ: LIF) announced today that its Co-founder and Chief Executive Officer, Chris Hulls, has executed a partial disposition of his holdings in the company. This transaction involves selling 863,903 shares, which represents approximately 1.2% of the total outstanding shares in Life360. The sale was conducted in accordance with Rule 144 of the Securities Act of 1933, as amended.

Following this partial sale, Mr. Hulls will continue to maintain beneficial ownership of around 3.8% of the total outstanding shares in Life360. In a statement regarding the sale, Mr. Hulls highlighted his intention to diversify his financial holdings, particularly after being associated with the company for 17 years with a significant portion of his wealth tied to Life360.

Mr. Hulls expressed his continued commitment to the company, stating, “I have recently returned from an extended break more excited than ever about the opportunities ahead for Life360, and with a renewed enthusiasm to lead the next chapter in the Company’s vision.” He clarified that while diversifying his financial portfolio, he has pledged not to undertake additional sales of Life360 equity in the next 12 months, which includes terminating the Rule 10b5-1 plan disclosed in the company’s recent Form 10-Q filing.

In addition to securing his family’s future, Mr. Hulls outlined plans to allocate a portion of the proceeds from the sale towards philanthropic initiatives within his local community. A significant portion of his securities will be donated to a private foundation and donor advised fund.

Life360, a San Francisco-based family connectivity and safety company, offers a mobile app and Tile tracking devices that enable users to stay connected to their loved ones. With services like location sharing, safe driver reports, and crash detection with emergency dispatch, Life360 serves approximately 76.9 million monthly active users across more than 170 countries as of September 30, 2024.

The company has stated that more information regarding this transaction can be found on their official website at www.life360.com. Furthermore, investors are advised that this announcement contains forward-looking statements and are encouraged to exercise caution and understand the inherent risks and uncertainties associated with such statements.

This information was authorized for release by Chris Hulls, Director, Co-Founder, and Chief Executive Officer of Life360.

The filing further included a copy of the media release related to this transaction as Exhibit 99.1, dated November 15, 2024.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Life360’s 8K filing here.

About Life360

Life360 Inc is a family connection and safety company. Its business category includes mobile app and Tile tracking devices with a range of services, including location sharing, safe driver reports and crash detection with emergency dispatch. Life360 Inc is based in SAN FRANCISCO.