Susan Stick
About Susan Stick
Life360’s General Counsel and Corporate Secretary since August 2023, Susan Stick (age 56) brings senior in-house legal and people/operations leadership from Evernote, One Kings Lane, Skype, and Intuit, and holds a B.A. (UCLA) and J.D. (University of Hawaii) . During 2024 under the current executive team, Life360 delivered 22% revenue growth to $371.5M, positive Adjusted EBITDA of $45.5M (above guidance), positive operating cash flow of $32.6M, and year-end cash of $160.5M; the company’s PVP disclosure shows cumulative TSR of $643 (from a $100 base) for 2024, underscoring strong shareholder value creation in the period following the U.S. IPO (context: PVP TSR series begins June 27, 2022) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Evernote Corporation | General Counsel and SVP, People & Places | Jan 2018 – Jan 2023 | Led legal and people functions at consumer productivity platform, integrating legal risk management with org scaling . |
| One Kings Lane | Vice President & General Counsel | — | Senior counsel for e-commerce/home retail brand . |
| Skype | Associate General Counsel | — | Supported legal matters at global communications platform . |
| Intuit Inc. | Assistant General Counsel | — | In-house counsel at scaled software/fintech platform . |
External Roles
No public-company directorships or external committee roles for Ms. Stick are disclosed in the 2025 proxy .
Fixed Compensation
| Metric | 2023 | 2024 | Notes |
|---|---|---|---|
| Base Salary ($) | $320,000 | $340,000 | +6.3% YoY to align with peer medians . |
| Target Bonus (% of Salary) | 30% | 40% | Increased to align with ~50th percentile market target . |
| Target Bonus ($) | $96,000 | $136,000 | Computed from base and target % . |
| Final Annual Bonus Paid ($) | $44,555 (NEIP) | $136,000 | 2024 payout reflects 100% company × 100% individual . |
| One-time Transaction Bonus ($) | — | $68,000 | For U.S. IPO execution . |
Performance Compensation
Annual Incentive Plan (2024)
- Weighting: 50% Company metric multiplier, 50% Individual multiplier; Ms. Stick’s individual multiplier = 100% .
- Company metric outcomes and multipliers:
| Metric | 2024 Target | 2024 Actual | Achievement |
|---|---|---|---|
| Revenue ($M) | $375.0 | $371.5 | 99% |
| Monthly Active Users (MM) | 70.1 | 79.6 | 114% |
| Paying Circles (MM) | 2.2 | 2.3 | 104% |
| Adjusted EBITDA ($M) | $33.6 | $45.5 | 135% |
| Component | Weight | Result |
|---|---|---|
| Company Performance Multiplier | 50% | 100% based on achievements |
| Individual Performance Multiplier (Stick) | 50% | 100% |
| Final Bonus Payout (Stick) | — | $136,000 |
- Settlement mix: In November 2024, NEOs other than the CEO elected to receive 50% of estimated annual incentive as fully vested RSUs (with a small premium due to grant-date timing); Ms. Stick received 357 fully vested RSUs reflecting the excess fair value over cash equivalent, with remainder paid in cash after year-end true-up .
Equity Awards (2024)
- Design: For 2024, Ms. Stick’s long-term equity was 100% time-based RSUs (no PRSUs for 2024); a separate small time-based RSU grant accompanied the IPO transaction bonus .
| Grant Date | Instrument | Shares Granted | Vesting Terms |
|---|---|---|---|
| 4/14/2024 | Time-based RSUs | 13,577 | Monthly over four years beginning 1/1/2024, subject to service . |
| 7/7/2024 | Time-based RSUs (IPO-related) | 2,011 | Monthly over two years from 6/6/2024, subject to service . |
| 11/15/2024 | Fully vested RSUs (bonus settlement premium) | 357 | Fully vested at grant as part of NEIP settlement mechanics . |
Note: 2024 PRSU framework (revenue/Adjusted EBITDA equal weights; total 134.9% payout) applied to CEO/CFO/COO, not to Ms. Stick in 2024 .
Equity Ownership & Alignment
- Beneficial ownership (as of 3/31/2025): 19,879 shares total; indicates <1% ownership of outstanding Common Stock .
- Directly held: 14,652 shares .
- RSUs vested or vesting but not issued within 60 days: 5,227 shares (administrative timing) .
| Unvested RSUs at 12/31/2024 | Count | Market Value ($) at $41.27 |
|---|---|---|
| 8/11/2023 grant remaining | 63,987 | $2,640,743 |
| 4/14/2024 grant remaining | 10,466 | $431,932 |
| 7/7/2024 grant remaining | 1,509 | $62,276 |
- Options: None disclosed for Ms. Stick; equity mix is RSUs (time-based) .
- Hedging/pledging: Company prohibits short sales, derivatives, and pledging absent prior approval; no pledges are disclosed for Ms. Stick in the ownership section .
- Clawback: Company has an Incentive Compensation Recoupment Policy applicable to executive officers .
Employment Terms
- Status and start date: At-will; General Counsel and Corporate Secretary since August 2023 .
- Severance (non-CIC): If terminated without Cause or resigns for Good Reason, six months’ base salary ($170,000) plus six months COBRA premiums ($18,020), subject to release and other conditions .
- Change-of-Control (double trigger): If terminated by the Company other than for Cause or resigns for Good Reason within 12 months post-CoC, all RSUs accelerate (estimated $3,134,952 value using 12/31/2024 close) .
- Good Reason (Stick): Material reduction in duties/reporting or relocation >35 miles from principal location (without consent) .
| Termination Scenario | Cash Severance | COBRA | Equity |
|---|---|---|---|
| Without Cause / Good Reason (non-CIC) | $170,000 (6 months) | $18,020 (6 months) | No acceleration disclosed (time-based continues per award) . |
| CIC + termination (double trigger) | $170,000 (6 months) | $18,020 (6 months) | 100% RSU vesting acceleration; est. $3,134,952 at 12/31/24 prices . |
Compliance notes:
- Insider trading policy and pledging/hedging prohibitions apply to employees and officers .
- Section 16(a) compliance: one Form 4 for Ms. Stick (April 14, 2024 RSU grant) was filed late; subsequently reported on April 30, 2024 .
- Say-on-pay: Majority support at 2024 meeting, though below level desired by the company (ongoing investor engagement) .
Performance & Track Record (Company context during tenure)
| Metric | FY2023 | FY2024 | Notes |
|---|---|---|---|
| Revenue ($M) | — | $371.5 | +22% YoY; within guidance $368–$374M . |
| Adjusted EBITDA ($M) | $20.6 | $45.5 | Above guidance $39–$42M; consistent positive quarterly EBITDA in 2024 . |
| Operating Cash Flow ($M) | $7.5 (implied) | $32.6 | +$25.1M vs 2023 . |
| Cash, Cash Equivalents & Restricted Cash ($M) | $70.7 | $160.5 | Strengthened liquidity post IPO . |
| Company TSR (PVP $100 base) | $241 (2023) | $643 (2024) | PVP TSR series begins 6/27/2022 . |
Compensation Structure Analysis
- Mix and risk: 2024 compensation for Ms. Stick is cash plus time-based RSUs (no PRSUs for 2024), tilting equity toward retention vs performance; annual bonus tied 50% to company metrics (revenue, MAUs, paying circles, Adjusted EBITDA) and 50% to individual goals (Stick at 100%), linking cash incentives to operating performance .
- One-time awards: A modest $68,000 IPO transaction bonus and a small supplemental RSU grant (2,011 shares) vest over two years—both structured to retain rather than immediately monetize .
- Governance features: Robust clawback; prohibition on hedging/pledging; no tax gross-ups; no option repricing; market-informed peer benchmarking—all supportive of shareholder alignment .
Investment Implications
- Alignment and incentives: Ms. Stick’s 2024 equity is 100% time-based RSUs (no PRSUs), which supports retention but dilutes pay-for-performance vs peers with performance shares; her 2024 annual bonus paid at target (100% company, 100% individual) reflects solid execution against operating metrics (particularly MAUs and Adjusted EBITDA) .
- Supply/vesting overhang: Multiple RSU grants vest monthly over multi-year schedules (63,987; 10,466; 1,509 unvested as of 12/31/24), which can create steady selling cadence for tax-liquidity needs, a modest technical overhang to monitor in trading setups .
- Change-of-control economics: Double-trigger acceleration of all RSUs (estimated $3.13M at 12/31/24 prices) can increase deal certainty for the executive team while modestly raising perceived M&A costs; investors should consider the incentive to support strategic alternatives if value-accretive .
- Skin-in-the-game and policy controls: Beneficial ownership is <1% (19,879 shares total), typical for a GC; hedging/pledging restrictions and a formal clawback mitigate misalignment risks; one late Form 4 in 2024 appears administrative and was remedied .
- Context: Company-level performance and liquidity improved markedly in 2024, bolstering the credibility of performance-linked cash incentives; however, future equity mix for the legal function could further strengthen alignment if PRSUs are introduced for Ms. Stick in subsequent cycles, in line with CEO/CFO/COO program design .