Life360 (LIF) Director Charles J. Prober Exercises Options and Sells Shares

What Happened

• Charles J. Prober, a director of Life360, exercised 7,930 vested stock options on 2026-08-13 at $11.18 per share (cash paid $88,657) and the same 7,930 shares were sold in the open market the same day at $48.59 per share (gross proceeds $385,319). A corresponding derivative position for 7,930 shares was reported disposed at $0, reflecting the conversion/termination of the option upon exercise.

Key Details

• Transaction date: 2026-08-13; Form 4 filed 2026-08-17 (timely within the usual two-business-day window).
• Exercise: 7,930 shares × $11.18 = $88,657 (reported as an acquisition).
• Sale: 7,930 shares × $48.59 = $385,319 (open-market sale).
• Net proceeds before taxes/fees (sale minus exercise cost): ~$296,662.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Sale was effected pursuant to a Rule 10b5-1 trading plan adopted March 14, 2025 (pre-established plan; adopter stated no material nonpublic info at adoption).
  • F2: Ownership figures in the filing include 4,474 restricted stock units (RSUs) that convert to shares upon vesting.
  • F3: The option exercised was fully vested and exercisable.
• Transaction codes: M = option exercise/conversion, S = sale, with a derivative disposal line reflecting the exercised option.

Context

• This is a same-day exercise-and-sell (cashless-style) transaction executed under a pre-set 10b5-1 plan, which is common for insiders who want to sell shares on a scheduled basis. Such sales are typically considered routine and do not, by themselves, indicate an insider's view on the company's prospects.