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      "text": "Engine recommends the Board immediately implement a $750 million accelerated share repurchase program.",
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      "text": "The current Board lacks public company experience and financial sophistication. Seven of the Company’s 10 directors have never served on another public company board besides Lyft.",
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      "text": "Lyft’s capital structure is completely unoptimized, with net cash of $831 million (pro forma of its recent acquisition) and a very cash flow generative business model. Engine recommends the Board immediately implement a $750 million accelerated share repurchase program.",
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      "text": "Details the Board's Numerous Governance and Capital Allocation Shortcomings, Including a Dual-Class Share Structure, Staggered Board, Unsustainable Level of Dilution, and Unoptimized Balance Sheet",
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      "text": "Engine’s multiple attempts to work constructively with Lyft to strengthen the Board were met by entrenched directors who rejected Engine’s highly qualified candidates without even meeting with them.",
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      "text": "Believes Lyft Should Immediately Implement a $750 Million Accelerated Share Repurchase Program, Eliminate the Dual-Class Share Structure, and De-Stagger the Board",
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      "text": "Highlights its Director Candidates' Substantial Public Company Board Experience, Capital Allocation Expertise, and Track Records of Value Creation",
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      "text": "Files Definitive Proxy Statement and Urges Shareholders to Vote FOR Alan L. Bazaar and Daniel B. Silvers on the BLUE Universal Proxy Card as Replacements for Directors Sean Aggarwal and Betsey Stevenson",
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      "text": "As a reminder, Engine is seeking to elect two highly qualified and independent candidates – Alan L. Bazaar and Daniel B. Silvers – to the Company’s Board of Directors (the “Board”) because Engine believes they have the requisite corporate governance and capital allocation expertise to create long-term value for Lyft shareholders.",
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      "text": "NEW YORK--(BUSINESS WIRE)--Engine Capital LP (together with its affiliates, “Engine” or “we”), which owns approximately one percent of the outstanding common shares of Lyft, Inc. (NASDAQ: LYFT) (“Lyft” or the “Company”), today released a presentation that details the need for governance and capital allocation enhancements at Lyft. Engine has also filed a definitive proxy statement with the U.S. Securities and Exchange Commission.",
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