Lemonade appoints Prashant Ratanchandani to board of directors

Lemonade, Inc. (NYSE:LMND), the $3.86 billion market cap insurtech company whose stock has surged over 180% in the past year, announced Wednesday the appointment of Prashant Ratanchandani to its board of directors, effective the same day. Ratanchandani will serve as a Class II director, with his term set to expire at the company’s annual meeting of stockholders in 2028, or until a successor is appointed or he departs earlier.

According to a statement released through an SEC filing, Ratanchandani is eligible to participate in Lemonade’s Non-Employee Director Compensation Policy. This includes an annual cash retainer of $30,000, paid quarterly, and an initial equity-based award of restricted stock units valued at $175,000. The initial award will vest in equal annual installments over three years, contingent on continued board service. After each annual meeting of stockholders, Ratanchandani will also be eligible for an additional equity-based award of restricted stock units valued at $150,000, vesting on the first anniversary of the grant date, subject to continued service.

Lemonade stated that Ratanchandani has entered into the company’s standard indemnification agreement for directors and officers. The company also noted that there is no arrangement or understanding pursuant to which he was appointed to the board, and that there are no family relationships between Ratanchandani and any current director or executive officer. Ratanchandani does not have any direct or indirect material interest in any transaction requiring disclosure under SEC regulations.

The information in this article is based on a press release statement filed with the Securities and Exchange Commission. Investors should note that Lemonade is scheduled to report its next earnings on November 11, 2025, which will provide further insight into the company’s financial performance.

In other recent news, Lemonade has made significant additions to its Board of Directors. The company appointed Prashant Ratanchandani, Meta’s Vice President of Engineering for AI Products, to its board, bringing his extensive experience in scaling technical organizations. Additionally, Geoff Seeley, who serves as Chief Marketing Officer at PayPal, has also joined Lemonade’s board. Seeley’s background includes roles at Afterpay during its acquisition by Square and leadership positions at Airbnb, Unilever, and Pearson.

In analyst updates, Piper Sandler raised its price target for Lemonade to $60, maintaining a Neutral rating. Meanwhile, BMO Capital increased its price target to $42, keeping an Underperform rating. BMO Capital noted that Lemonade’s growth might require less capital compared to its peers, partly due to its rating by Demotech. These developments come as Lemonade continues to navigate its position in the insurance technology sector.

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