Maria Angelidis-Smith
LemonadeAbout Maria Angelidis-Smith
Maria Angelidis-Smith (age 46) joined Lemonade’s Board in October 2024 and is classified as a Class I Director with a term expiring at the 2027 Annual Meeting. She is currently Chief Product and Technology Officer at Personio and previously served as a VP of Product and GM at Meta, with earlier roles at Intuit and The Boston Consulting Group. She holds a BBA from Athens University of Economics and Business and an MBA from the University of Michigan Ross School of Business, where she was a Fulbright Scholar .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Meta | Vice President of Product; General Manager (Facebook App monetization; Groups, Events, Profile) | Not disclosed | Led monetization and scaled billion+ user products |
| Intuit | Leadership roles (product development, growth strategies, marketing) | Not disclosed | Product and growth-focused leadership |
| The Boston Consulting Group | Leadership roles | Not disclosed | Strategy and marketing-focused roles |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Personio | Chief Product and Technology Officer | Current | Europe’s leading HR software for SMBs |
Board Governance
- Independence: The Board determined Angelidis-Smith is independent under NYSE listing standards .
- Board structure: Combined CEO/Chair (Daniel Schreiber) with a Lead Independent Director (Michael Eisenberg); non-management director executive sessions occur at least twice per year .
- Attendance: In 2024, the Board met 6 times; each director attended at least 75% of Board and committee meetings on which they served. Audit Committee met 4 times .
- Committee memberships and chairs:
| Director | Audit | Compensation | Nominating & Corporate Governance |
|---|---|---|---|
| Michael Eisenberg | Chair | X | |
| Dr. Samer Haj‑Yehia | Chair | X | |
| Debra Schwartz | X | Chair | |
| Maria Angelidis‑Smith | X | X |
- Audit Committee independence and literacy: Members (Haj‑Yehia, Schwartz, Angelidis‑Smith) deemed independent; Haj‑Yehia and Schwartz are “audit committee financial experts” .
- Compensation Committee: Members (Eisenberg—Chair, Haj‑Yehia, Angelidis‑Smith) all independent; acted by unanimous written consent in 2024; engaged Aon HCS as independent compensation consultant; no consultant conflicts identified .
Fixed Compensation
| Year | Cash Fees (USD) | Notes |
|---|---|---|
| 2024 | $7,160 | Earned in quarter-year since October 2024 appointment |
Director cash fee policy (general, applied quarterly):
- Annual director cash fee: $20,000
- Audit Committee: Chair $20,000; Member $7,500
- Compensation Committee: Chair $10,000; Member $5,000
- Nominating & Governance: Chair $7,500; Member $3,500
Performance Compensation
| Award Type | Grant Value (USD) | Grant Date | Vesting | Change-of-Control Treatment |
|---|---|---|---|---|
| Initial RSU (upon commencement) | $175,000 (policy) | At start of service (Oct 2024) | Vests in 3 equal annual installments on 1st–3rd anniversaries of start date | Accelerated vesting upon change in control under 2020 Plan |
| Annual RSU (post-AGM) | $150,000 (policy) | Following each annual meeting | Vests on first anniversary of grant | Accelerated vesting upon change in control under 2020 Plan |
| Actual 2024 Stock Awards | $174,995 | 2024 | RSUs; service-based vesting (no performance conditions disclosed) | Accelerated vesting upon change in control |
Note: Director equity awards are time-based RSUs; no specific performance metrics (e.g., TSR, EBITDA) disclosed for director grants .
Other Directorships & Interlocks
| Company | Board Role | Committee Roles | Interlocks/Notes |
|---|---|---|---|
| None disclosed | — | — | Compensation Committee Interlocks: None; no officer/employee members; no reciprocal interlocks reported for 2024 |
Expertise & Qualifications
- Product and technology leadership across Personio and Meta; experience scaling revenue and user-facing platforms .
- Strategic and growth expertise from Intuit and BCG roles .
- Education: BBA (Economics/Operations/Marketing), Athens University of Economics and Business; MBA, Michigan Ross; Fulbright Scholar .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Shares Outstanding | Unvested RSUs Outstanding at FY 2024 End |
|---|---|---|---|
| Maria Angelidis‑Smith | 33,554 | <1% (on 73,266,170 shares outstanding) | 7,362 |
Policy controls relevant to alignment:
- Insider Trading Policy prohibits hedging, short sales, pledging, margin purchases, and placing company securities in margin accounts for directors and employees .
Governance Assessment
- Strengths: Independent director on Audit and Compensation Committees; strong product/technology background—valuable for Lemonade’s digital insurance strategy; Board reports robust risk oversight with Audit Committee coverage of cyber and financial reporting; high-level meeting attendance threshold met .
- Alignment: Material portion of her 2024 director compensation is equity-based RSUs ($174,995 vs. $7,160 cash), supporting shareholder alignment; beneficial ownership disclosed with additional unvested RSUs .
- Process quality: Compensation Committee uses an independent consultant (Aon HCS) and found no conflicts; committee acted by unanimous written consent, indicating governance rigor .
- Potential concerns/RED FLAGS: No director-specific related-party transactions disclosed in provided excerpts; company-level governance note of combined CEO/Chair role is mitigated by Lead Independent Director and regular executive sessions, but remains a structural consideration for some investors . No evidence of pledging or hedging by the director; policy prohibits such practices .
Director Compensation Mix (2024)
| Component | Amount (USD) | Mix (%) |
|---|---|---|
| Cash Fees | $7,160 | 3.9% |
| Stock Awards (RSUs, grant-date fair value) | $174,995 | 96.1% |
| Total | $182,155 | 100% |
Board Governance Details
- Board composition and classes: Class I (Daniel Schreiber, Maria Angelidis‑Smith); Class II (Shai Wininger, Dr. Samer Haj‑Yehia); Class III (Michael Eisenberg—Lead Independent Director, Debra Schwartz). Directors removable only for cause by supermajority; staggered terms may delay change of control .
- Audit Committee report and auditor fees: EY total fees $3,145,964 (2024) vs. $3,113,473 (2023); categories detailed; Audit Committee oversight affirmed auditor independence .
Related-Party Transactions
- Policy: Audit Committee must review and approve related person transactions; ratification/cancellation procedures in place; directors cannot participate in approvals where they are a related person .
- Director-specific transactions: None involving Angelidis‑Smith are disclosed in the provided sections .