Form Type: 4

Accession Number:	0001691421-20-000035
Date:	2020-12-10
Issuer:	LEMONADE, INC. (LMND)
Original Submission Date:

Reporting Person:

WININGER SHAI
C/O LEMONADE, INC.
5 CROSBY STREET, 3RD FLOOR NEW YORK, NY 10013

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of Security	Transaction Date	2a. Deemed Execution Date	Transaction Code	Shares	Acquired or Disposed	Price per share	5. Amount of Securities Beneficially Owned Following Reported Transaction	6. Ownership Form Direct or Indirect	Nature of Indirect Ownership
COMMON STOCK	2020-12-10		S	26,166	d	$99.58	3,893,087	direct
COMMON STOCK	2020-12-10		S	31,784	d	$100.39	3,861,303	direct
COMMON STOCK	2020-12-10		S	7,896	d	$101.30	3,853,407	direct
COMMON STOCK	2020-12-10		S	3,603	d	$102.55	3,849,804	direct
COMMON STOCK	2020-12-10		S	4,602	d	$103.54	3,845,202	direct
COMMON STOCK	2020-12-10		S	6,708	d	$104.56	3,838,494	direct
COMMON STOCK	2020-12-10		S	4,615	d	$105.31	3,833,879	direct
COMMON STOCK	2020-12-10		S	1,502	d	$106.66	3,832,377	direct
COMMON STOCK	2020-12-10		S	804	d	$107.56	3,831,573	direct
COMMON STOCK	2020-12-10		S	3,200	d	$108.68	3,828,373	direct
COMMON STOCK	2020-12-10		S	12,489	d	$109.43	3,815,884	direct
COMMON STOCK	2020-12-10		S	7,153	d	$110.25	3,808,731	direct
COMMON STOCK	2020-12-10		S	700	d	$111.32	3,808,031	direct
COMMON STOCK	2020-12-11		S	113	d	$99.95	3,807,918	direct
COMMON STOCK	2020-12-10			0		$0.00	11,983,384	indirect	f16

Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security	Conversion or Exercise Price of Derivative Security	Transaction Date	Deemed Execution Date	Transaction Code	Number of Derivative Securities Acquired (A) or Disposed of (D)	Date Exercisable	Expiration Date	Title and Amount of Securities Underlying Derivative Security	Price of Derivative Security	Number of derivative Securities Beneficially Owned Following Reported Transaction(s)	Ownership Form: Direct (D) or Indirect (I)	Nature of Indirect Beneficial Ownership

Footnotes
ID	footnote
f1	represents sale pursuant to a rule 10b5-1 trading plan.
f2	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $99.00 to $99.88. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f3	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $100.00 to $100.96. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f4	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $101.00 to $101.95. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f5	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $102.27 to $102.94. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f6	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $103.17 to $103.93. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f7	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $104.06 to $104.99. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f8	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $105.00 to $105.88. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f9	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $106.09 to $106.98. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f10	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $107.06 to $107.97. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f11	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $108.20 to $108.98. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f12	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $109.00 to $109.91. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f13	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $110.01 to $110.84. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f14	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $111.10 to $111.51. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f15	the price reported in column 4 is a weighted average price. these shares were sold in multiple transactions at prices ranging from $99.91 to $99.95. the reporting person undertakes to provide lemonade, inc. (the "company"), any security holder of the company, or the staff of the securities and exchange commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
f16	the reporting person is one of three members of a joint investment committee, which has sole voting and dispositive power over the shares held by softbank group capital limited ("softbank"). as such, the reporting person may be deemed to share beneficial ownership of the securities held by softbank. however, the reporting person disclaims beneficial ownership over such shares except to the extent of his pecuniary interest therein, if any.

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