On April 26, 2023, Lyft, Inc. entered into a letter agreement (the Letter) with Kristin Sverchek, pursuant to which Ms. Sverchek will become the company's president, effective as of July 1, 2023. Ms. Sverchek will succeed John Zimmer, the company's current president, who, as previously announced, will transition to a non-employee advisor and director role on June 30, 2023. The company previously disclosed that David Risher, the company's chief executive officer (principal executive officer) would assume the role of President effective July 1, 2023.

However, subsequent to this filing, at Mr. Risher's recommendation, the company's board of directors determined that Ms. Sverchek would assume this role instead, giving Mr. Risher greater capacity to focus on his role as CEO. Ms. Sverchek will report to Mr. Risher, who will continue to be the principal executive officer. Ms. Sverchek has been a senior executive at the Company since 2012.

She has a proven track record of leading large teams, solving tough problems and driving business impact at scale. Ms. Sverchek will lead the Company's work in key areas including people, policy, legal, business development, strategic partnerships, and real estate. She will continue to serve on the Company's Executive Leadership team.

Beyond her functional responsibilities Ms. Sverchek will play a broad role as a key advisor to the CEO and lead strategic initiatives to drive the Company's transformation with a sharp focus on meeting the needs of riders and drivers.