EverQuote : 2026 Proxy Statement
EVER
Published on 04/23/2026 at 06:32 pm EDT
Dear Stockholder:
You are invited to attend the 2026 Annual Meeting of Stockholders of EverQuote, Inc. (the "Annual Meeting"), a Delaware corporation, which will be held on Thursday, June 4, 2026, at 10:00 a.m., Eastern Time. The Annual Meeting will be a virtual meeting via a live webcast on the Internet. Stockholders may attend the Annual Meeting online, vote your shares during the online meeting and submit your questions during the virtual meeting by visiting https://www.virtualshareholdermeeting.com/EVER2026. The Annual Meeting will be held for the following purposes:
To elect seven directors, David Blundin, Sanju Bansal, Paul Deninger, Jayme Mendal, George Neble, John Shields and Mira Wilczek, to hold office until our 2027 annual meeting of stockholders or until their successors are duly elected and qualified, subject to their earlier death, resignation or removal;
To approve an amendment to the Company's Restated Certificate of Incorporation to reflect new Delaware law provisions regarding officer exculpation;
To ratify the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026; and
To transact any other business that properly comes before the Annual Meeting (including adjournments and postponements thereof).
The foregoing items of business are more fully described in the proxy statement accompanying this notice. In addition, stockholders may be asked to consider and vote upon any other matters that may be properly brought before the Annual Meeting and at any adjournments or postponements thereof. Any action may be taken on the foregoing matters at the Annual Meeting on the date specified above, or on any date or dates to which the Annual Meeting may be adjourned, or to which the Annual Meeting may be postponed.
Our Board of Directors has fixed the close of business on April 7, 2026 as the record date for determining the stockholders entitled to notice of, and to vote at, the Annual Meeting and at any adjournments or postponements thereof. All such stockholders are cordially invited to attend the meeting. However, to ensure your representation at the meeting, you are urged to vote by proxy prior to the meeting. If you attend the meeting, you may vote during the meeting even if you have voted by proxy.
We encourage you to access the virtual annual meeting before the start time of 10:00 a.m., Eastern Time, on June 4, 2026, to allow ample time for online access, which will begin at 9:45 a.m., Eastern Time.
A complete list of registered stockholders will be available for the examination of any stockholder, for any purpose germane to the meeting for a period of at least 10 days prior to the Annual Meeting date, during ordinary business hours at EverQuote's principal place of business located at 141 Portland Street in Cambridge, Massachusetts 02139. The list of these stockholders will also be available on the bottom of your screen during the Annual Meeting. Please refer to instructions on how to vote your shares on the Notice of Internet Availability of Proxy Materials you received in the mail, the section titled "Voting" beginning on page 1 of the attached Proxy Statement or, if you requested to receive printed proxy materials, your enclosed proxy card.
We make proxy materials available to our stockholders on the Internet. You can access proxy materials at https://www.proxyvote.com. In order to authorize your proxy via the Internet you must have the stockholder identification number that appears on the enclosed proxy card.
By Order of our Board of Directors,
Joseph Sanborn
Chief Financial Officer and Chief Administrative Officer
April 23, 2026
TABLE OF CONTENTS
GENERAL INFORMATION 1
PROPOSAL 1 ELECTION OF DIRECTORS 5
DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 6
Board of Directors 6
Nominees for Election 6
Executive Officers 8
Director Independence 9
Board Leadership Structure 10
Code of Business Conduct and Ethics 10
Anti-Hedging Policy 11
Insider Trading Policy 11
Policies and Practices on the Timing of Awards of Equity Awards in Relation to the Disclosure of Material Nonpublic Information 11
Compensation Recovery Policy 11
Corporate Governance Guidelines 12
Board Meetings 12
Annual Meeting Attendance 12
Committees 12
Audit Committee 12
Compensation Committee 13
Executive Compensation Process 14
Board Processes 14
Stockholder Communications 16
Compensation Risk Assessment 16
PROPOSAL 2 APPROVAL OF AN AMENDMENT TO THE COMPANY'S CERTIFICATE OF INCORPORATION 17
PROPOSAL 3 RATIFICATION OF THE APPOINTMENT OF OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 20
Principal Accounting Fees and Services 20
Report of the Audit Committee of our Board of Directors 21
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
RELATED STOCKHOLDER MATTERS 22
Delinquent Section 16(a) Reports 24
EXECUTIVE COMPENSATION 25
Summary Compensation Table 40
Outstanding Equity Awards at Fiscal Year-End 42
Employment Offer Letters and Agreements 46
Potential Payments upon Termination or Change in Control 48
Equity Compensation Plan Information 50
Retirement Benefits 50
Employee Benefits and Perquisites 50
DIRECTOR COMPENSATION 51
Pay Versus Performance 53
Limitation of Liability and Indemnification 56
Rule 10b5-1 Sales Plans 57
RELATED PERSON TRANSACTIONS 58
Agreements with Entities Affiliated with Link Ventures LLLP 58
Registration Rights 58
Indemnification Agreements 58
Policies and Procedures for Related Person Transactions 58
TRANSACTION OF OTHER BUSINESS 60
ADDITIONAL INFORMATION 60
Procedures for Submitting Stockholder Proposals 60
This Proxy Statement contains statements reflecting our views about our future performance that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (Reform Act). Statements that constitute forward-looking statements within the meaning of the Reform Act are generally identified through the inclusion of words such as "anticipate," "believe," "estimate," "expect," "confident," "forecast," "future," "goal," "guidance," "intend," "may," "objective," "outlook," "plan," "position," "potential," "project," "seek," "should," "strategy," "target," "will" or similar statements or variations of such words and other similar expressions. All statements addressing our future operating performance, and statements addressing events and developments that we expect or anticipate will occur in the future, are forward-looking statements within the meaning of the Reform Act. These forward-looking statements are based on currently available information, operating plans and projections about future events and trends. They inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such forward-looking statement. These risks and uncertainties include, but are not limited to, those described in "Item 1A. Risk Factors" starting on page 9 of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the "SEC") on February 24, 2026. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Our board of directors solicits your proxy on our behalf for the 2026 Annual Meeting of Stockholders (the "Annual Meeting"), and at any postponement or adjournment of the Annual Meeting, for the purposes set forth in this Proxy Statement. The meeting will be held via the internet as a virtual web conference at https://www.virtualshareholdermeeting.com/EVER2026 on Thursday, June 4, 2026, at 10:00 a.m., Eastern Time. We intend to mail a Notice of Internet Availability of Proxy Materials to stockholders of record and to make this Proxy Statement and accompanying materials available on the internet on or about April 23, 2026.
In this Proxy Statement, the terms "EverQuote," "the company," "we," "us," and "our" refer to EverQuote, Inc. The mailing address of our principal executive offices is EverQuote, Inc., 141 Portland Street, Cambridge,
MA 02139. All website addresses set forth in this Proxy Statement are for information only and are not intended to be an active link or to incorporate any website information into this document.
Eastern Time. To attend, vote, and submit questions during the Annual Meeting, visit www.virtualshareholdermeeting.com/EVER2026 and enter the control number included on the Notice of Internet Availability of Proxy Materials that you received, on your proxy card, or on the materials provided by your bank, broker, trustee or other nominee. Online access to the webcast will open approximately 15 minutes prior to the start of the Annual Meeting. The meeting will be governed by our Rules of Conduct, which will be posted at https://investors.everquote.com/financials-and-filings/Annual-Meeting.
You may attend the Annual Meeting live online by visiting www.virtualshareholdermeeting.com/EVER2026. The virtual web conference will start at 10:00 a.m., Eastern Time, on June 4, 2026. In order to attend the Annual Meeting online, you will need the control number included on the Notice of Internet Availability of Proxy Materials you received, your proxy card, or the materials provided by your bank, broker, trustee or other nominee. Instructions on how to attend and participate in the meeting online, including how to demonstrate proof of stock ownership, are posted at www.virtualshareholdermeeting.com/EVER2026.
We are providing access to our proxy materials over the internet. On or about April 23, 2026, we will mail the Notice to stockholders. The Notice contains instructions on how to access our proxy materials and how to vote. If you would like to receive a paper or e-mail copy of our proxy materials, please follow the instructions in the Notice. If you requested printed versions of these materials by mail, you will also receive a proxy card for the Annual Meeting.
A complete list of registered stockholders will be available for the examination of any stockholder, for any purpose germane to the meeting for a period of at least 10 days prior to the Annual Meeting date, during ordinary business hours at EverQuote's principal place of business located at 141 Portland Street in Cambridge, Massachusetts 02139. The list of these stockholders will also be available on the bottom of your screen during the Annual Meeting after entering the control number included on the Notice of Internet Availability of Proxy Materials that you received, on your proxy card, or on the materials provided by your bank, broker, trustee or other nominee.
Over the Internet: If you are a stockholder as of the Record Date, you may vote over the internet by following the instructions provided in the Notice.
By Telephone: If you are a stockholder as of the Record Date, you may vote by telephone by following the instructions in the Notice.
By Mail: If you requested printed copies of proxy materials and are a stockholder as of the Record Date, you may vote by mailing your proxy as described in the proxy materials.
During the Meeting: If you are a stockholder as of the Record Date, you will have the ability to attend the virtual meeting and vote online during the meeting. The Annual Meeting will be a virtual only meeting, which can be accessed at https://www.virtualshareholdermeeting.com/EVER2026. Voting your shares in advance of the meeting will not prevent a stockholder from: (i) attending the Annual Meeting online, (ii) revoking their earlier submitted proxy in accordance with the process outlined below, or (ii) voting during the meeting.
In order to be counted, proxies submitted by telephone or internet must be received by 11:59 p.m., Eastern Time, on June 3, 2026. Proxies submitted by
U.S. mail must be received before the start of the Annual Meeting.
If you hold your shares through a bank, broker, trustee or other nominee, please follow their instructions.
Annual Meeting and voting during the meeting, by filing an instrument in writing revoking the proxy or by filing another duly executed proxy bearing a later date with our Secretary before the vote is counted or by voting again using the telephone or internet before the cutoff time (11:59 p.m., Eastern Time, on June 3, 2026). Your latest telephone or internet proxy is the one that will be counted. If you hold shares through a bank, broker, trustee or other nominee, you may revoke any prior voting instructions by contacting that entity.
Class A common stock held on the Record Date in respect of any proposal presented at the Annual Meeting. Holders of our Class B common stock are
entitled to ten votes per share of Class B common stock held on the Record Date in respect of any proposal presented at the Annual Meeting.
For Proposal 1, the seven director nominees receiving the highest number of votes cast FOR election, or a "plurality" of the votes properly cast, will be elected as directors.
For Proposal 2, the affirmative vote of stockholders holding a majority of the outstanding shares of our Class A common stock and Class B common stock, voting together as a single class, is required to approve the amendment to our Restated Certificate of Incorporation to reflect new Delaware law provisions regarding officer exculpation.
For Proposal 3, the affirmative vote of stockholders holding a majority in voting power of the votes cast FOR or AGAINST the proposal is required to ratify the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026.
Votes withheld, abstentions and "broker non-votes" (i.e., where a bank, broker, trustee or other nominee has not received voting instructions from the beneficial owner on a proposal and where the bank, broker, trustee or other nominee does not have discretionary power to vote on such proposal) are counted as present for purposes of determining the presence of a quorum. Shares voting "withheld" and broker non-votes have no effect on the election of directors. Abstentions and broker non-votes have the effect of a vote AGAINST the proposal to amend our Restated Certificate of Incorporation. Abstentions have no effect on the ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2026.
Under applicable rules, banks, brokers, trustees or other nominees who do not receive voting instructions from their customers have the discretion to vote uninstructed shares on certain proposals, but do not have discretion to vote such uninstructed shares on certain other proposals. Of the matters to be voted on at the Annual Meeting, we expect the only proposal on which your bank, broker, trustee or other nominee will have discretionary voting authority to vote your shares in the absence of voting instructions is Proposal 3, the ratification of the appointment of PricewaterhouseCoopers LLP. If your shares are held through a bank, broker, trustee or other nominee, those shares will not be voted in the election of directors or on the proposal to amend our Restated Certificate of Incorporation unless you affirmatively provide such entity with instructions on how to vote.
final results by filing a Current Report on Form 8-K, or Form 8-K, within four business days after the Annual Meeting. If final results are not available at that time, we will provide preliminary voting results in the Form 8-K and final results in an amendment to the Form 8-K after they become available.
We are paying for the distribution of the proxy materials and solicitation of the proxies. Proxy solicitation expenses that we will pay include those for preparation, mailing, returning and tabulating the proxies. Our directors, officers and employees may also solicit proxies on our behalf in person, by telephone, email or facsimile, but they do not receive additional compensation for providing those services.
MA 02139 or email us at [email protected] or call us at (855) 522-3444. If you want to receive separate copies of the Notice, Proxy Statement or Annual Report on Form 10-K in the future, or if you are receiving multiple copies and would like to receive only one copy for your household, you should contact your bank, broker, trustee or other nominee record holder, or you may contact us at the above address or email or telephone number.
The first proposal on the agenda for the Annual Meeting is the election of seven director nominees to serve for a one-year term beginning at the Annual Meeting and ending at our 2027 annual meeting of stockholders, or the 2027 Annual Meeting. The terms of our current directors expire at the Annual Meeting. Directors are elected to hold office for a one-year term or until the election and qualification of their successors in office, subject to their earlier death, resignation or removal.
Our board of directors has nominated David Blundin, Sanju Bansal, Paul Deninger, Jayme Mendal, George Neble, John Shields and Mira Wilczek for re-election to the board to hold office for a one-year-term expiring at our 2027 Annual Meeting or until their successors are duly elected and qualified, subject to their earlier death, resignation or removal. Each of the nominees is a current member of our board of directors and has consented to serve if elected.
Unless you direct otherwise through your proxy voting instructions, the persons named as proxies will vote all proxies received "FOR" the election of each nominee. If any nominee is unable or unwilling to serve at the time of the Annual Meeting, the persons named as proxies may vote for a substitute nominee chosen by the members of our board of directors. In the alternative, the proxies may vote only for the remaining nominees, leaving a vacancy on our board of directors.
Our board of directors may fill such vacancy at a later date or reduce the size of our board of directors. We have no reason to believe that any of the nominees will be unwilling or unable to serve if elected as a director.
The biographies of each of the nominees below contains information regarding each person's service as a director on our board of directors, business experience and other experiences, qualifications, attributes or skills that caused our board to nominate him or her as a director. In addition to the information presented below regarding each such person's specific experience, qualifications, attributes and skills that led our board of directors to the conclusion that he or she should serve as a director, we also believe that each of our directors has a reputation for integrity, honesty and adherence to high ethical standards. Each of our directors has demonstrated business acumen and an ability to exercise sound judgment, as well as a commitment of service to our company and our board of directors, including a commitment to understanding our business and industry. We also value our directors' experience in relevant areas of business management and on other boards of directors and board committees.
Below is information regarding our director nominees and directors whose terms are continuing after the Annual Meeting:
Name
Age
Since
Independent
Committee Membership
David Blundin ......
59
2008
No
-
Sanju Bansal .......
60
2014
Yes
Compensation Committee
Paul Deninger ......
67
2019
Yes
Audit Committee, Compensation Committee
Jayme Mendal ......
40
2020
No
-
George Neble ......
69
2018
Yes
Audit Committee
John Shields .......
73
2018
Yes
Audit Committee
Mira Wilczek ......
44
2017
Yes
Compensation Committee
David Blundin, one of our co-founders, has served as chairman of our board of directors since August 2008.
Mr. Blundin is the founder of Link Ventures LLLP, a venture capital firm, where he has served as managing partner since January 2006. He is also the co-founder of Vestigo Ventures LLC, a venture capital firm, where he has served as managing partner since January 2016. Mr. Blundin is also chairman of the board of Vestmark, Inc., a portfolio management solutions company, where he served as chief executive officer from 2001 to 2008. In June 2005, Mr. Blundin co-founded Link Studio, Inc., a venture studio located in Cambridge, Massachusetts, where he has served as chairman since its founding and also served as chief executive officer until February 2017. From 1997 to 2000, Mr. Blundin was the chief executive officer and chairman of DataSage, Inc., a company he founded that used neural network technology for data analytics in industrial applications including online marketing. In 2000, DataSage was acquired by Vignette Corporation, where Mr. Blundin served as chief technologist until 2002. Since 2002, Mr. Blundin has founded and co-founded at least 10 software and internet companies in addition to Vestmark, including Autotegrity, Inc., a data analytics and online marketing company, and CourseAdvisor, an online research company. Prior to 1997, Mr. Blundin was president and chief executive officer of Cirrus Recognition Systems, one of the first commercially successful machine-learning companies.
Mr. Blundin holds an S.B. degree in computer science from the Massachusetts Institute of Technology (MIT), where he researched neural network technology. His thesis at the MIT Artificial Intelligence Laboratory was entitled, "Neural Network Simulations on a Connection Machine." We believe that Mr. Blundin is qualified to serve on our board of directors because of his extensive experience as a director of technology companies and deep knowledge of our company.
Sanju Bansal has served as a member of our board of directors since May 2014. Mr. Bansal has served as chief executive officer of Hunch Analytics, LLC, a data analytics company, since November 2013. Prior to funding
Hunch Analytics, Mr. Bansal served in various executive leadership positions and as a director of MicroStrategy Incorporated, a worldwide provider of business intelligence software, including as executive vice president from 1993 to 2013 and chief operating officer from 1994 to 2012. Mr. Bansal also served as a member of MicroStrategy's board of directors from 1993 to 2013, including as vice chairman from November 2000 to November 2013. Mr. Bansal served as a director of SimilarWeb Ltd., a digital data and analytics company, from August 2021 to June 2024. Mr. Bansal also served as a director of Cvent, Inc., an event management software company, from November 1999 to June 2022, and as a director of CSRA Inc., an information technology services company specializing in national security, from November 2015 to April 2018. Mr. Bansal served as a director of The Advisory Board Company from 2009 until the company's sale in November 2017. Mr. Bansal holds an S.B. degree in electrical engineering from the Massachusetts Institute of Technology and an M.S. degree in computer science from The Johns Hopkins University. We believe that Mr. Bansal is qualified to serve on our board of directors because of his deep background in consulting and information and systems technology, his leadership experience as a senior executive of a public company, his corporate governance experience from serving as a member of public company boards of directors, and his extensive knowledge of relevant technologies.
Paul Deninger has served as a member of our board of directors since April 2019. Mr. Deninger was a senior advisor with Evercore, an investment banking advisory firm, from April 2015 to February 2020. He joined Evercore as a senior managing director in 2011 and was previously a vice chairman at Jefferies, a global securities and investment banking firm, since 2003. Prior to Jefferies, Mr. Deninger served as chairman and chief executive officer of Broadview, a technology investment banking firm he joined in 1987, from 1996 until its acquisition by Jefferies in 2003. Mr. Deninger also serves as a director, chair of the finance committee and member of the audit, technology and nominating and corporate governance committees of Resideo Technologies Inc., a publicly held provider of home automation products and services. He served as a director of Iron Mountain Inc., a publicly traded information storage and retrieval company, from August 2010 to June 2021, and as vice chairman of the board of Epiphany Technology, a publicly held blank check company seeking to acquire a business in the enterprise IT market, from January 2021 to January 2023. Mr. Deninger holds a B.S. degree from Boston College and an M.B.A. degree from Harvard Business School. We believe that Mr. Deninger is qualified to serve on our board of directors due to his deep knowledge of capital markets, merger and acquisition strategies and technology services businesses as well as his extensive management experience and prior service on audit, compensation, finance, risk and safety and technology committees of public company boards.
Jayme Mendal has served as our president, chief executive officer and a member of our board of directors since November 2020. Previously Mr. Mendal served as our chief operating officer from February 2019 to November 2020 and as our chief revenue officer from August 2017 to February 2019. Mr. Mendal previously served as the vice president of sales and marketing at PowerAdvocate, Inc., an energy intelligence company, from May 2017 to August 2017. Prior to that, Mr. Mendal served in multiple positions at PowerAdvocate, Inc., including senior director of sales and marketing from June 2015 to May 2017, director of corporate strategy and marketing from August 2014 to December 2015, and manager of corporate strategy from August 2013 to August 2014. From August 2007 to July 2010, he was a management consultant within the growth strategy division of Monitor Deloitte (formerly Monitor Group). Mr. Mendal serves on the board of directors and compensation committee of Gambling.com Group Limited, a provider of marketing and sports data services for the global online gambling industry. Mr. Mendal holds a B.S. degree in finance and economics from Washington University in St. Louis and an M.B.A. degree from Harvard Business School. We believe that Mr. Mendal is qualified to serve on our board of directors due to his experience in leading our operations and previously our revenue functions, his extensive knowledge of our company and industry, as well as his vision and leadership as our president and chief executive officer.
George Neble has served as a member of our board of directors since May 2018. Since July 2017, Mr. Neble has served as a business consultant. Mr. Neble has also served as a director of Intapp, Inc., a publicly held leading provider of cloud-based software solutions for the financial services industry, since June 2021. Mr. Neble served as the audit committee chair and a board member of LumiraDx, a diagnostics company, from July 2020 to
April 2024, and as a director of Real Goods Solar, Inc., a publicly held provider of solar equipment from June 2019 to July 2021. From November 2012 to June 2017, Mr. Neble served as managing partner of the
Boston office of Ernst & Young LLP, an accounting firm. Prior to that, Mr. Neble was a senior assurance partner at Ernst & Young from 2002 to 2012. Mr. Neble is a certified public accountant. He holds a B.S. degree in accounting from Boston College. We believe that Mr. Neble is qualified to serve on our board of directors because of his financial expertise, his experience in public accounting and his over 40 years of experience working with emerging growth technology-based companies.
John Shields has served as a member of our board of directors since May 2018. He has served as the president of Advisor Guidance, Inc., a business consulting firm, since August 2018, as a trustee, audit committee chair and lead independent director of Domini Investment Trust, a registered investment company, since 2004, as a director and audit committee member of Vestmark, Inc. since December 2015, as a director of Cogo Labs, Inc., a startup incubator, since May 2008, and as a consultant in the financial services industry since 2002. From October 2016 to June 2018, Mr. Shields served as managing director, head of risk and regulatory compliance at CFGI, LLC, a financial consulting firm. From January 2014 to October 2016, he served as director, head of investment management consulting at Navigant Consulting, Inc. From 1998 to 2002, he served as chief executive officer of Citizens Advisers, Inc., an investment management company, chief executive officer of Citizens Securities, Inc., a registered broker-dealer, and president and interested trustee of the Citizens Funds mutual fund complex.
Mr. Shields is a certified public accountant (inactive). He holds a B.S. degree in accounting from Saint Peter's University. We believe that Mr. Shields is qualified to serve on our board of directors because of his financial and accounting expertise, including providing complex accounting and reporting support, valuation, tax and risk and regulatory compliance services.
Mira Wilczek has served as a member of our board of directors since February 2017. Since December 2019,
Ms. Wilczek has served as a general partner of XLIX Ventures, a family investment office. Ms. Wilczek has also served as an Advisor at Link Ventures LLLP, a venture capital firm, since January 2020, and previously served as a managing director from July 2015 to December 2019. She previously served as president and chief executive officer of Cogo Labs, Inc., a startup incubator, from February 2017 to November 2019 and was entrepreneur in residence at Cogo Labs from December 2013 until February 2017. Prior to joining Link Ventures, Ms. Wilczek founded Red Panda Security, a research consultancy specializing in mobile behavioral analytics, and served as its chief executive officer from 2012 to 2013. From 2009 to 2012, she served as director of business development at Lyric Semiconductor, a fabless semiconductor company. Ms. Wilczek holds an S.B. degree in electrical engineering and computer science and an M.B.A. degree from the Massachusetts Institute of Technology. We believe that Ms. Wilczek is qualified to serve on our board of directors because of her investment and operations experience in the technology industry, including her experience in data security, digital marketing and artificial intelligence.
The following table sets forth information regarding our executive officers as of April 7, 2026:
Name
Age
Position(s)
Jayme Mendal ..................
40
Chief Executive Officer and President, Director
Joseph Sanborn .................
56
Chief Financial Officer, Chief Administrative Officer,
Treasurer and Secretary
David Brainard .................
54
Chief Technology Officer
Jon Ayotte .....................
42
Chief Accounting Officer
The biography of Mr. Mendal can be found under "-Nominees for Election."
Joseph Sanborn has served as our chief financial officer and treasurer since June 2023 and assumed the additional roles of secretary in October 2025 and chief administrative officer in February 2026. Mr. Sanborn
joined the company as senior vice president of corporate development and strategy in September 2019, then served as executive vice president of strategy, finance and operations from March 2022 to March 2023 and as chief strategy officer from March 2023 to June 2023. Prior to joining the company, Mr. Sanborn had a 20-plus year investment banking career. From August 2014 to August 2019, he was the Managing Director and Co-Head of Technology Banking at the Jordan Edmiston Group, Inc., where he led the firm's expansion into new coverage areas in software, internet and tech-enabled services solutions. From 2007 to 2014, Mr. Sanborn was the Managing Director and Head, Mergers & Acquisitions at Rutberg & Company, where he led the firm's strategic advisory business. Prior to that, Mr. Sanborn held investment banking roles at SVB Alliant, Robertson Stephens and J.P. Morgan. Mr. Sanborn holds an M.P.P. in Business Regulation Policy from Harvard University and a B.S. in Business Administration from Georgetown University.
David Brainard has served as our chief technology officer since January 2021 and was previously head of engineering starting in December 2019. Previously, he was head of ad tech systems at Wayfair, Inc., a specialty retail company, from June 2019 to December 2019. Prior to that, he led the voluntary benefits engineering organization at Liberty Mutual, an insurance company, from March 2016 to May 2019. Prior to his role at Liberty Mutual, Mr. Brainard was architecture leader at Bank of America from 2010 to 2016. He also previously served as a principal consultant in IBM's global integration group, and a manager and architect at BMC Software. Mr. Brainard holds a B.A. degree from Wayne State University and an M.A. degree from Boston University.
Jon Ayotte has served as our chief accounting officer since June 2023. He joined the company in September 2020 as vice president of accounting & reporting. Prior to joining the company, Mr. Ayotte worked for Ernst & Young from July 2006 to August 2020, where he served in various accounting and auditing roles. Mr. Ayotte holds a
B.S. degree in Accounting from Quinnipiac University and is a Certified Public Accountant in Massachusetts.
Under the rules of the Nasdaq Stock Market, or Nasdaq, independent directors must comprise a majority of a listed company's board of directors. In addition, Nasdaq rules require that, subject to specified exceptions, each member of a listed company's audit and compensation committees be independent and that director nominees be selected or recommended for the board's selection by independent directors constituting a majority of the independent directors or by a nominations committee comprised solely of independent directors. Under Nasdaq rules, a director will only qualify as "independent" if, in the opinion of the company's board of directors, that person does not have a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director and that such person is "independent" as defined under Nasdaq and Securities and Exchange Commission, or SEC, rules.
Audit committee members must also satisfy the independence criteria set forth in Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In order to be considered independent for purposes of Rule 10A-3, a member of an audit committee of a listed company may not, other than in his or her capacity as a member of the audit committee, the board of directors or any other board committee: (1) accept, directly or indirectly, any consulting, advisory or other compensatory fee from the listed company or any of its subsidiaries or (2) be an affiliated person of the listed company or any of its subsidiaries.
We are a "controlled company" as that term is set forth in Nasdaq rules. Under Nasdaq rules, as a "controlled company," we are exempt from certain corporate governance requirements, including: (1) the requirement that a majority of our board of directors consist of independent directors, (2) the requirement that director nominees be selected or recommended for the board's selection by independent directors constituting a majority of the independent directors or by a nominations committee comprised solely of independent directors, and (3) the requirement that we have a compensation committee composed entirely of independent directors with a written charter specifying, among other things, the scope of the committee's responsibilities. We currently avail ourselves of certain of these exemptions and, for so long as we are a "controlled company," we will maintain the option to utilize from time to time some or all of these exemptions. In accordance with these exemptions, we do not have a nominations committee, and director nominees are not selected or recommended for the board's selection by independent directors constituting a majority of the independent directors. Even as a "controlled company," we must comply with the rules applicable to audit committees set forth in the Nasdaq rules.
At least annually, our board of directors evaluates all relationships between us and each director in light of relevant facts and circumstances for the purposes of determining whether a material relationship exists that might signal a potential conflict of interest or otherwise interfere with such director's ability to satisfy his or her responsibilities as an independent director. Based on this evaluation, our board of directors makes an annual determination of whether each director is independent within the meaning of the independence standards of the Nasdaq rules, the SEC and our applicable board committees.
In February 2026, our board of directors determined that each of Messrs. Bansal, Deninger, Neble, Shields and Ms. Wilczek is "independent" as defined under Nasdaq rules. Our board of directors also has determined that Messrs. Deninger, Neble and Shields, who comprise our audit committee, and Messrs. Bansal and Deninger and Ms. Wilczek, who serve on our compensation committee, satisfy the independence standards for such committees established by the SEC and Nasdaq rules, as applicable. In making such determinations, our board of directors considered the relationships that each such non-employee director has with our company and all other facts and circumstances our board of directors deemed relevant in determining independence, including the beneficial ownership of our capital stock by each non-employee director and any institutional stockholder with which he or she is affiliated.
Our corporate governance guidelines provide that the roles of chairman of the board and chief executive officer may be separated or combined. Our board of directors has considered its leadership structure and determined that, at this time, the roles of chairman of the board of directors and chief executive officer should be separate. Separating the chairman and the chief executive officer positions allows our chief executive officer, Mr. Mendal, to focus on running the business, while allowing the chairman of our board of directors, Mr. Blundin, to lead the board in its fundamental role of providing advice to and oversight of management. Mr. Blundin has been an integral part of the leadership of our company and our board of directors since August 2008, and his strategic vision has guided our growth and performance. Our board of directors believes that Mr. Blundin is best situated to focus the board of directors' attention and efforts on critical matters. Mr. Mendal has served as our president, chief executive officer and as a director since November 2020. Our board of directors believes that the board's leadership structure is appropriate because it strikes an effective balance between independent oversight and management participation in the board process.
We have adopted a written code of business conduct and ethics that applies to our directors, officers and employees, including our principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. A copy of the code is available under the heading "Corporate Governance-Governance Documents" on the Investors section of our website, which is located at investors.everquote.com. In addition, we intend to post on our website all disclosures that are required by law or Nasdaq rules concerning any amendments to, or waivers from, any provision of the code.
We have adopted an insider trading policy that, among other things, expressly prohibits all of our employees, including our named executive officers, as well as our directors, and certain of their family members and related entities, from engaging in short sales of our securities, including short sales "against the box"; purchases or sales of puts, calls or other derivative securities based on our securities; and purchases of financial instruments (including prepaid variable forward contracts, equity swaps, collars and exchange funds) that are designed to hedge or offset any decrease in the market value of our securities.
We have adopted an insider trading policy governing the purchase, sale and other dispositions of our securities (including gifts and adoption or amendment of Rule 10b5-1 trading plans) that applies to all company personnel, including directors, officers, employees, and other covered persons. The policy also prohibits trading in securities of another company when an individual is aware of material non-public information about that company due to service as a covered person under the policy. Although its provisions do not apply to the company generally, the policy provides that our policy is not to engage in transactions in our securities while aware of material
non-public information relating to the company or our securities. We believe that our insider trading policy is reasonably designed to promote compliance with insider trading laws, rules and regulations, and listing standards applicable to us. A copy of our insider trading policy was filed as an exhibit to our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 24, 2026.
Although we do not have a formal written policy in place with regard to the timing of awards of stock options or similar awards in relation to the disclosure of material nonpublic information, our equity awards are generally granted on fixed dates determined in advance. Annual equity awards are typically granted to our executives in mid-February of each year by our board of directors, upon recommendation of our compensation committee. On limited occasions, we may grant equity awards outside of our annual grant cycle for new hires, promotions, recognition, retention or other purposes.
Our compensation committee recommends all equity award grants and our board of directors approves them on or before the grant date. For any grants of stock options or similar equity awards, the compensation committee and the board do not recommend or grant such awards in anticipation of the release of material nonpublic information. Similarly, the compensation committee and the board do not time the release of material nonpublic information based on grant dates for such awards. We did not grant any stock options or similar awards to our named executive officers in 2025.
In compliance with Nasdaq's executive compensation recovery listing standards, we adopted a compensation recovery policy that applies to all incentive-based compensation received by the company's executive officers on or after October 2, 2023. The policy provides that in the event there is an "Accounting Restatement" of the company's financial statements, and any incentive-based compensation was erroneously awarded to an executive officer pursuant to the incorrect financial statements, our compensation committee will attempt to recover the erroneously awarded incentive-based compensation, unless certain exceptions apply under SEC or Nasdaq rules. An "Accounting Restatement" means a requirement that the company prepare an accounting restatement due to the material noncompliance of the company with any financial reporting requirement under the U.S. federal securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period. Changes to the company's financial statements that do not represent error corrections are not an Accounting Restatement.
Our board of directors has adopted corporate governance guidelines to assist in the exercise of its duties and responsibilities and to serve the best interests of our company and our stockholders. The guidelines provide, among other things, that:
our board of directors' principal responsibility is to oversee the management of the company;
the independent directors will meet in executive session at least semi-annually;
directors have full and free access to management and, as necessary, independent advisors; and
new directors participate in an orientation program and all directors are expected to participate in continuing director education on an ongoing basis.
A copy of the corporate governance guidelines is posted under the heading "Corporate Governance-Governance Documents" on the Investors section of our website, which is located at investors.everquote.com.
Our board of directors meets on a regularly scheduled basis during the year to review significant developments affecting us and to act on matters requiring its approval. It also holds special meetings when important matters require action between scheduled meetings. Members of senior management regularly attend meetings to report on and discuss their areas of responsibility. Our board of directors held five meetings (including regularly scheduled and special meetings) during the fiscal year ended December 31, 2025.
During 2025, each director attended at least 75% of the aggregate of (i) the total number of meetings of our board of directors held during the period for which he or she has been a director and (ii) the total number of meetings held by the audit committee and compensation committee of our board of directors during any periods in which he or she served. Our board of directors periodically holds executive sessions of the independent directors.
Executive sessions do not include employee directors or directors who do not qualify as independent under the Nasdaq and SEC rules.
It is our policy that members of our board of directors are encouraged to attend annual meetings of our stockholders. All directors then serving attended the 2025 Annual Meeting of Stockholders.
Our amended and restated bylaws provide that our board of directors may delegate responsibility to committees. Our board of directors has established an audit committee and a compensation committee, which operate under charters approved by our board of directors. Both the audit committee charter and the compensation committee charter are available under the heading "Corporate Governance-Governance Documents" on the Investors section of our website, which is located at investors.everquote.com.
Audit Committee
Our audit committee's responsibilities include:
appointing, approving the compensation of, and assessing the independence of our registered public accounting firm;
overseeing the work of our registered public accounting firm, including through the receipt and consideration of reports from such firm;
reviewing and discussing with management and the registered public accounting firm our annual and quarterly financial statements and related disclosures;
coordinating our board of directors' oversight of our internal control over financial reporting, disclosure controls and procedures, and code of business conduct and ethics;
discussing our risk management policies;
establishing policies regarding hiring employees from the registered public accounting firm and procedures for the receipt and retention of accounting related complaints and concerns;
meeting independently with our registered public accounting firm and management;
reviewing and approving or ratifying any related person transactions; and
preparing the audit committee report required by SEC rules.
All audit services and all non-audit services, other than de minimis non-audit services, to be provided to us by our independent registered public accounting firm must be approved in advance by our audit committee.
The members of our audit committee are Messrs. Deninger, Neble and Shields. Mr. Neble is the chair of our audit committee. Our board of directors has determined that Mr. Neble is an "audit committee financial expert" as defined by applicable SEC rules.
Our audit committee held five meetings during the fiscal year ended December 31, 2025. Our audit committee operates under a written charter adopted by our board of directors, a current copy of which is available under the heading "Corporate Governance-Governance Documents" on the Investors section of our website, which is located at investors.everquote.com.
Compensation Committee
Our compensation committee's responsibilities include:
reviewing and approving, or making recommendations to our board of directors with respect to, the compensation of our chief executive officer and our other executive officers;
reviewing and making recommendations to our board of directors with respect to incentive-compensation and equity-based plans;
recommending to the independent directors serving on our board of directors to approve any tax-qualified, non-discriminatory employee benefit plans;
reviewing and making recommendations to our board of directors with respect to director compensation; and
preparing the compensation committee report required by SEC rules.
Our compensation committee held five meetings during the fiscal year ended December 31, 2025. The members of our compensation committee are Messrs. Bansal and Deninger and Ms. Wilczek. Ms. Wilczek is the chair of our compensation committee. In designing our executive compensation program, our compensation committee engages the services of an independent compensation consulting firm.
Roles of Our Compensation Committee, Board of Directors and Management
Our executive compensation program is administered by the compensation committee of our board of directors, subject to the oversight and, with respect to equity awards, approval of our full board of directors. Our compensation committee reviews our executive compensation practices on an annual basis and based on this review approves, in consultation with our board of directors, base salary and bonus amounts, and with respect to equity awards, makes recommendations to our board of directors. The board of directors then approves or modifies the equity awards recommended by the compensation committee. While our compensation committee is responsible for approving salaries and bonuses, the compensation committee provides regular compensation related updates to our board of directors and provides our board of directors with an opportunity to make inquiries and consult on executive compensation matters.
As a part of determining executive officer compensation, the compensation committee receives base salary, bonus and equity compensation recommendations from our chief executive officer. At the invitation of the compensation committee, certain members of our senior management also participate in compensation committee meetings to share their perspective and relevant information on topics that the compensation committee is discussing.
Role of the Compensation Committee's Independent Compensation Consultant
In designing our executive compensation program, our compensation committee engages the services of an independent compensation consulting firm. During 2025, our compensation committee engaged Compensia, Inc. as its independent compensation consultant to provide comparative data on executive compensation practices in our industry, to assist our compensation committee in developing an appropriate list of peer companies, and to advise on our executive compensation program for 2025 and 2026. Our compensation committee reviews information regarding the independence and potential conflicts of interest of any compensation consultant it may engage, taking into account, among other things, the factors set forth in Nasdaq rules. With respect to services provided in 2025 and to be provided in 2026, our compensation committee concluded that the engagement of Compensia, Inc. did not raise any conflict of interest.
Although our compensation committee and board of directors consider the advice and recommendations of an independent compensation consultant as to our executive compensation program, our compensation committee and board of directors ultimately make their own decisions about these matters. In the future, we expect that our compensation committee will continue to engage an independent compensation consultant to provide additional guidance on our executive compensation programs and to conduct further competitive benchmarking against a peer group of publicly traded companies.
Our compensation committee operates under a written charter adopted by our board of directors, a current copy of which is available under the heading "Corporate Governance-Governance Documents" on the Investors section of our website, which is located at investors.everquote.com. Our compensation committee held five meetings during the fiscal year ended December 31, 2025.
Oversight of Risk
Our board of directors oversees our risk management processes directly and through its audit committee. Our management is responsible for risk management on a day-to-day basis. The role of our board of directors and its
audit committee is to oversee the risk management activities of our management. They fulfill this duty by discussing with management the policies and practices utilized by management in assessing and managing risks and providing input on those policies and practices. In general, our board of directors oversees risk management activities relating to business strategy, acquisitions, capital allocation, organizational structure and certain operational risks, and our audit committee oversees risk management activities related to financial controls and legal and compliance risks, including with respect to enterprise risk, fraud and cybersecurity. The audit committee reports to the full board of directors on a regular basis, including reports with respect to the committee's risk oversight activities as appropriate. In addition, because risk issues often overlap, the committee from time to time requests that the full board of directors discuss particular risks.
Director Nomination Process
Our board of directors is responsible for selecting its own members. The process followed by our board to identify and evaluate director candidates includes: potentially requesting recommendations from members of our board of directors and others for recommendations; evaluation of the performance on our board of directors and its audit committee of any existing directors being considered for nomination: consideration of biographical information and background material relating to potential candidates; and, particularly in the case of potential candidates who are not then serving on our board of directors, interviews of selected candidates by members of our board of directors.
Generally, our board identifies candidates for director nominees in consultation with management, through the use of search firms or other advisors, through the recommendations submitted by stockholders or through such other methods as our board deems to be helpful to identify candidates. Once candidates have been identified, our board confirms that the candidates meet all of the minimum qualifications for director nominees established by our board.
Our board of directors may gather information about the candidates through interviews, detailed questionnaires, comprehensive background checks or any other means that our board deems to be appropriate in the evaluation process. Our board then discusses and evaluates the qualities and skills of each candidate, both on an individual basis and taking into account the overall composition and needs of our board of directors. Based on the results of the evaluation process, our board determines the persons to be nominated for election as directors. In considering whether to nominate any particular person for election as a director, our board applies the criteria set forth in our corporate governance guidelines described above under "Corporate Governance Guidelines." Consistent with these criteria, our board expects every nominee to have the following attributes or characteristics, among others: integrity, honesty, adherence to high ethical standards, business acumen, good judgment and a commitment of service to our company, including a commitment to understand our business and industry. Our board considers the value of diversity when selecting nominees, and believes that our board of directors, taken as a whole, should embody a diverse set of skills, experiences and abilities. The board does not make any particular weighting of diversity or any other characteristic in evaluating nominees and directors.
All of the director nominees are currently members of our board of directors. The biographies of such director nominees under the heading "Nominees for Election" in this Proxy Statement indicate the experience, qualifications, attributes and skills of each of the director nominees that led our board of directors to conclude he or she should continue to serve as a director of our company. Our board of directors believes that each of the nominees has the individual attributes and characteristics required of a director of our company, and that the nominees as a group possess the skill sets and specific experience desired of our board of directors as a whole.
Stockholders may recommend individuals for consideration by our board of directors as potential director candidates by submitting their names, together with appropriate biographical information and background materials, and information with respect to the stockholder or group of stockholders making the recommendation, including the number of shares of capital stock owned by such stockholder or group of stockholders, to our Secretary at EverQuote, Inc., 141 Portland Street, Cambridge, MA 02139. The specific requirements for the
information that is required to be provided for such recommendations to be considered are specified in our amended and restated bylaws and must be received by us no later than the date referenced below under the heading "Procedures for Submitting Stockholder Proposals." Assuming that appropriate biographical and background material has been provided on a timely basis, our board will evaluate stockholder-recommended candidates by following substantially the same process, and applying substantially the same criteria, as it follows for candidates submitted by others.
Stockholders also have the right under our amended and restated bylaws to directly nominate director candidates, without any action or recommendation on the part of our board of directors, by following the procedures set forth below under the heading "Procedures for Submitting Stockholder Proposals."
In evaluating proposed director candidates, our board may consider, in addition to the minimum qualifications and other criteria approved by it from time to time, all facts and circumstances that it deems appropriate or advisable, including, among other things, the skills of the proposed director candidate, his or her depth and breadth of professional experience or other background characteristics, his or her independence and the needs of our board of directors.
Stockholders or other interested parties may contact our board of directors or one or more of our directors with issues or questions about EverQuote, by mailing correspondence to our General Counsel and Secretary at
141 Portland Street, Cambridge, MA 02139. Our General Counsel or members of his team will review incoming communications directed to our board of directors and, if appropriate, will forward such communications to the appropriate member(s) of the board of directors or, if none is specified, to the chairman of our board of directors. For example, we will generally not forward a communication that is primarily commercial in nature, is improper or irrelevant, or is a request for general information about EverQuote.
We believe that although a portion of the compensation provided to our executive officers and other employees is performance-based, our executive compensation program does not encourage excessive or unnecessary risk taking. This is primarily due to the fact that our compensation programs are designed to encourage our executive officers and other employees to remain focused on both short-term and long-term strategic goals, in particular in connection with our pay-for-performance compensation philosophy that applies to our executive officers. In addition, we believe that the equity compensation component of our executive compensation program assists in protecting against excessive or unnecessary risk taking by providing our executives with a strong link to our
long-term performance, creating an ownership culture and helping to align the interests of our executives and our stockholders. As a result, we do not believe that our compensation programs are reasonably likely to have a material adverse effect on us.
Effective August 1, 2022, the State of Delaware, which is the Company's state of incorporation, amended Section 102(b)(7) of the Delaware General Corporation Law ("DGCL") to enable Delaware companies to limit or eliminate the monetary liability of certain senior officers in limited circumstances (referred to as "exculpation"). Section 102(b)(7) of the DGCL previously permitted Delaware corporations to exculpate only directors, but not officers, and our Restated Certificate of Incorporation currently aligns with the previous Section 102(b)(7) in providing for the exculpation of directors but not officers. We are asking its stockholders to approve an amendment to the Restated Certificate of Incorporation to add a provision exculpating officers of the Company from personal liability for monetary damages associated with claims of breach of the duty of care, as now permitted under the DGCL (the "Exculpation Amendment").
Amended Section 102(b)(7) of the DGCL provides that only certain officers may be entitled to exculpation, namely: (i) the corporation's president, chief executive officer, chief operating officer, chief financial officer, chief legal officer, controller, treasurer or chief accounting officer; (ii) an individual identified in the corporation's public filings with the SEC as one of the most highly compensated executive officers of the corporation (i.e., the named executive officers); and (iii) an individual who, by written agreement with the corporation, has consented to be identified as an officer for purposes of accepting service of process (collectively, the "covered officers").
The Exculpation Amendment would permit the exculpation of the covered officers for personal liability for monetary damages in connection with direct claims brought by stockholders for breach of fiduciary duty of care, including class actions. The Exculpation Amendment would not limit the liability of the covered officers for:
breaches of the duty of loyalty;
acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law;
any transaction from which the officer derived an improper personal benefit; or
claims for breach of fiduciary duty of care claims brought by the Company itself, or derivative claims brought by stockholders in the name of the Company.
For clarity, the Exculpation Amendment specifically sets forth those circumstances in which covered officers, as well as directors of the Company, will not be entitled to exculpation, consistent with the provisions of the DGCL.
The Board is asking our stockholders to approve the Exculpation Amendment. The full text of the proposed amendment is set forth below and in Appendix A to this proxy statement. In Appendix A, additions are marked with bold, underlined text and deletions are indicated by struck-out text. The text of the Exculpation Amendment is subject to modifications to include such changes as may be required by the office of the Secretary of State of the State of Delaware and as our Board deems necessary and advisable to effect the Exculpation Amendment.
If the Exculpation Amendment is adopted, the text of Article SEVENTH of our Restated Certificate of Incorporation will be amended to read in its entirety as follows:
"SEVENTH: To the fullest extent permitted by law, a director or officer of the Corporation shall not be personally liable to the Corporation or its stockholders for monetary damages for any breach of fiduciary
duty as a director or officer. If the General Corporation Law or any other law of the State of Delaware is amended to authorize corporate action further eliminating or limiting the personal liability of directors or officers, then the liability of a director or officer of the Corporation shall be eliminated or limited to the fullest extent permitted by the General Corporation Law as so amended.
Any repeal or modification of the foregoing provisions of this Article SEVENTH by the stockholders of the Corporation shall not adversely affect any right or protection of a director of the Corporation existing at the time of, or increase the liability of any director or officer of the Corporation with respect to any acts or omissions of such director or officer occurring prior to, such repeal or modification."
The Board believes that there is a need for officers to have appropriate protections from personal liability, both to allow the Company to continue to attract and retain the most qualified officers and to prevent costly and protracted litigation that distracts our senior officers from important operational and strategic matters.
We believe that an exculpation provision that is updated to align with amended Section 102(b)(7) strikes the appropriate balance between stockholders' interest in accountability from our senior officers and their interest in the Company being able to attract and retain quality officers. In the absence of appropriate protection from personal liability, qualified officers might be deterred from serving due to exposure to personal liability and the risk of incurring substantial expense in defending lawsuits, regardless of merit.
Furthermore, exculpation has been available to directors of Delaware companies for a long time, and, now that Delaware law permits officer exculpation, we have observed numerous public companies, including some of our peers, adopting or attempting to adopt exculpation clauses that limit the personal liability of officers in their certificates of incorporation. Failure to adopt the amendment could therefore impact our ability to recruit and retain experienced and qualified officers, who may conclude that the potential exposure to liabilities, costs of defense and other risks of proceedings exceeds the benefits of serving as an officer of the Company.
In addition, officers frequently must make decisions in response to time-sensitive opportunities and challenges, which can create substantial risk of investigations, claims, actions, suits or proceedings seeking to impose liability on the basis of hindsight, especially in the current litigious environment, and regardless of merit.
Adopting the Exculpation Amendment could empower our officers to exercise their business judgment in furtherance of the interests of the stockholders. On the other hand, even under the Exculpation Amendment, our officers would not be protected from liability for breaches of the duty of loyalty, acts or omissions not in good faith or those that involve intentional misconduct or a knowing violation of law, or any transactions in which an officer derived an improper personal benefit.
In light of the narrow class and type of claims for which officers would be exculpated, the limited number of officers to whom the protections would apply, and the benefits that the Board believes would accrue to the Company and its stockholders in the form of an enhanced ability to attract and retain quality officers, our Board has determined that the Exculpation Amendment is in the best interests of the Company and its stockholders, and has unanimously approved the Exculpation Amendment.
Other than the replacement of the existing Article SEVENTH by the proposed Article SEVENTH, the remainder of the Restated Certificate of Incorporation will remain unchanged. If the Exculpation Amendment is approved by our stockholders, the amendment will become effective upon filing of the Certificate of Amendment to Restated Certificate of Incorporation with the Delaware Secretary of State, which we anticipate filing promptly following the Annual Meeting.
The affirmative vote of the holders of a majority of the voting power of all issued and outstanding shares of our Class A common stock and Class B common stock, voting together as a single class, entitled to vote on the Record Date will be required to approve the Exculpation Amendment to our Restated Certificate of Incorporation. Abstentions and broker non-votes will have the effect of a vote AGAINST this proposal.
We have appointed PricewaterhouseCoopers LLP as our independent registered public accounting firm to perform the audit of our consolidated financial statements for the fiscal year ending December 31, 2026, and we are asking you and other stockholders to ratify this appointment. PricewaterhouseCoopers LLP has served as our independent registered public accounting firm since 2014.
Our audit committee annually reviews the independent registered public accounting firm's independence, including reviewing all relationships between the independent registered public accounting firm and us and any disclosed relationships or services that may impact the objectivity and independence of the independent registered public accounting firm, and the independent registered public accounting firm's performance. As a matter of good corporate governance, our board of directors determined to submit to stockholders for ratification the appointment of PricewaterhouseCoopers LLP. A majority of the votes properly cast is required in order to ratify the appointment of PricewaterhouseCoopers LLP. In the event that a majority of the votes properly cast do not ratify this appointment of PricewaterhouseCoopers LLP, we will review our future appointment of PricewaterhouseCoopers LLP.
Our audit committee's charter, which was adopted in connection with our IPO in June 2018, contains a formal policy concerning approval of audit, audit-related and non-audit services to be provided to the company by its independent registered public accounting firm. The policy requires that all services to be provided by our independent registered public accounting firm, including audit and audit-related services and permitted non-audit services, must be preapproved by our audit committee, provided that de minimis non-audit services may instead be approved in accordance with applicable SEC rules. Our board of directors or our audit committee
pre-approved all audit, audit-related and non-audit services provided by PricewaterhouseCoopers LLP during fiscal years 2024 and 2025. We expect that a representative of PricewaterhouseCoopers LLP will attend the virtual 2026 annual meeting and the representative will have an opportunity to make a statement if he or she so chooses. The representative will also be available to respond to appropriate questions from stockholders.
The following table sets forth the aggregate professional fees billed or to be billed by PricewaterhouseCoopers LLP for audit, audit-related, tax and other services rendered for 2025 and 2024 (in thousands).
Fee Category
2025
2024
Audit Fees ..........................................
$1,472
1,504
Tax Fees ...........................................
375
383
Total Fees ......................................
$1,847
1,887
Audit Fees. Represents fees for professional services provided in connection with the audit of our annual consolidated financial statements, reviews of our quarterly consolidated financial statements, and SEC filings other than our quarterly and annual reports.
Tax Fees. Represents fees for professional services provided for tax compliance, tax advice and tax planning.
The information contained in this audit committee report shall not be deemed to be (1) "soliciting material,"
(2) "filed" with the SEC under the Securities Act of 1933, as amended (the "Securities Act") or the Exchange Act, (3) subject to Regulations 14A or 14C of the Exchange Act, or (4) subject to the liabilities of Section 18 of the Exchange Act. No portion of this audit committee report shall be deemed to be incorporated by reference into any filing under the Securities Act, or the Exchange Act, through any general statement incorporating by reference in its entirety the proxy statement in which this report appears, except to the extent that EverQuote specifically incorporates this report or a portion of it by reference.
Our audit committee's general role is to assist our board of directors in monitoring our financial reporting process and related matters. Its specific responsibilities are set forth in its charter.
Our audit committee has reviewed the company's consolidated financial statements for 2025 and met with management, as well as with representatives of PricewaterhouseCoopers LLP, the company's independent registered public accounting firm, to discuss the consolidated financial statements. Our audit committee also discussed with the independent registered public accounting firm the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board and the SEC.
In addition, our audit committee received the written disclosures and the letter from PricewaterhouseCoopers LLP required by applicable requirements of the Public Company Accounting Oversight Board regarding the independent accountant's communications with our audit committee concerning independence, and discussed with members of PricewaterhouseCoopers LLP its independence.
Based on the foregoing communications, its review of the financial statements and other matters it deemed relevant, our audit committee recommended to our board of directors that the company's audited consolidated financial statements for 2025 be included in the company's Annual Report on Form 10-K for 2025.
Respectfully submitted by the members of the audit committee of the board of directors:
George Neble (Chair)
Paul Deninger John Shields
The following table sets forth certain information known to us regarding the beneficial ownership of our capital stock as of April 7, 2026, for:
each person, or group of affiliated persons, known by us to beneficially own more than 5% of our Class A common stock or Class B common stock;
each of our named executive officers;
each of our directors; and
all of our executive officers and directors as a group.
Applicable percentage ownership is based on 31,769,000 shares of Class A common stock and 3,604,278 shares of Class B common stock outstanding at April 7, 2026. The number of shares beneficially owned by each stockholder is determined under SEC rules and includes voting or investment power with respect to securities. Under these rules, beneficial ownership includes any shares as to which the individual or entity has sole or shared voting power or investment power. In computing the number of shares beneficially owned by an individual or entity and the percentage ownership of that person, shares of Class A common stock and Class B common stock subject to options, warrants or other rights held by such person that are currently exercisable or will become exercisable within 60 days after April 7, 2026 are considered outstanding, although these shares are not considered outstanding for purposes of computing the percentage ownership of any other person.
Unless otherwise indicated, the address of all listed stockholders is c/o EverQuote, Inc., 141 Portland Street, Cambridge, MA 02139. Each of the stockholders listed has sole voting and investment power with respect to the shares beneficially owned by the stockholder unless noted otherwise, subject to community property laws where applicable.
Name
Number
%
Number
%
Power
5% Stockholders
Link Ventures LLLP(1) ..............................
3,157,501
10.0
3,556,462
98.7
57.1
The Vanguard Group(2) .............................
1,920,854
6.0
-
-
2.8
BlackRock, Inc.(3) .................................
1,897,775
6.0
-
-
2.8
Named Executive Officers and Directors
Jayme Mendal(4) ...................................
508,751
1.6
- - *
Joseph Sanborn(5) ..................................
193,234
*
- - *
David Brainard(6) ..................................
35,866
*
- - *
Jon Ayotte(7) ......................................
31,795
*
- - *
David Blundin(1) ...................................
3,157,501
10.0
3,556,462
98.7
57.1
Sanju Bansal(8) ....................................
462,563
1.5
- - *
Paul Deninger(9) ...................................
72,643
*
- - *
George Neble(10) ..................................
52,161
*
- - *
John Shields(11) ...................................
25,219
*
- - *
Mira Wilczek(12) ..................................
281,248
*
- - *
All current executive officers and directors as a group
(10 persons)(13) .................................
4,820,981
14.9
3,556,462
98.7
59.6
* Less than 1%.
Consists of (i) 84,781 shares of Class A common stock held directly by David Blundin, (ii) 95,451 shares of Class A common stock held by Recognition Capital, LLC; (iii) 3,556,462 shares of Class B common stock
and 2,598,154 shares of Class A common stock held by Link Ventures LLLP; and (iv) 379,115 shares of Class A common stock held by Cogo Fund 2020, LLC. David Blundin is the managing member of Link Management, LLC, which is the general partner of Link Ventures LLLP. David Blundin is also the manager and owner of Recognition Capital, LLC. David Blundin is the controlling stockholder of Cogo Labs, Inc., which is the sole manager of Cogo Fund 2020, LLC. As a result, David Blundin may be deemed to hold voting and dispositive power with respect to the shares held by Recognition Capital, LLC, Link Ventures LLLP, and Cogo Fund 2020, LLC. Each of the Link Ventures entities, Cogo Fund 2020, LLC, Recognition Capital LLC and the persons mentioned in this footnote disclaims beneficial ownership of the shares, except for those shares held of record by such entity and person, and except to the extent of their pecuniary interest therein. The address of the entities and persons mentioned in this footnote is One Kendall Square,
Building 200-Suite B2106, Cambridge, Massachusetts 02139.
Based on a Schedule 13G/A filed with the SEC by The Vanguard Group on November 12, 2024. According to the Schedule 13G/A, as of September 30, 2024, shared voting power was held by The Vanguard Group over 49,028 shares of Class A common stock, sole dispositive power was held over 1,920,854 shares of Class A Common Stock, and shared dispositive power was held by The Vanguard Group over 71,511 shares of Class A common stock. A Schedule 13G/A filed with the SEC on March 26, 2026 by The Vanguard Group reported beneficial ownership of 0 shares of common stock as of March 13, 2026. The Vanguard Group noted in its filing that certain subsidiaries or business divisions of subsidiaries of the Vanguard Group that formerly had, or were deemed to have, beneficial ownership jointly with the Vanguard Group, will report beneficial ownership separately (on a disaggregated basis) from the Vanguard Group. The address of The Vanguard Group is 100 Vanguard Blvd., Malvern, PA 19355.
Based on a Schedule 13G/A filed with the SEC by BlackRock, Inc. on February 7, 2025. According to the Schedule 13G/A, as of January 31, 2025, sole voting power is held by BlackRock, Inc. over 1,869,586 shares of Class A common stock and sole dispositive power is held by BlackRock, Inc. over 1,897,775 shares of Class A common stock. The address of BlackRock, Inc. is 50 Hudson Yards, New York,
NY 10001.
Consists of (i) 153,195 shares of Class A common stock, (ii) 7,143 shares of Class A common stock subject to restricted stock units vesting within 60 days following April 7, 2026, and (iii) 348,413 shares of Class A common stock subject to options exercisable within 60 days following April 7, 2026.
Consists of (i) 128,494 shares of Class A common stock, (ii) 2,730 shares of Class A common stock held as custodian under the Uniform Transfers to Minors Act; (iii) 6,563 shares of Class A common stock subject to restricted stock units vesting within 60 days following April 7, 2026, and (iv) 55,447 shares of Class A common stock subject to options exercisable within 60 days following April 7, 2026.
Consists of (i) 16,444 shares of Class A common stock, (ii) 2,500 shares of Class A common stock subject to restricted stock units vesting within 60 days following April 7, 2026, and (iii) 16,922 shares of Class A common stock subject to options exercisable within 60 days following April 7, 2026.
Consists of (i) 25,430 shares of Class A common stock, (ii) 3,209 shares of Class A common stock subject to restricted stock units vesting within 60 days following April 7, 2026, and (iii) 3,156 shares of Class A common stock subject to options exercisable within 60 days following April 7, 2026.
Consists of 462,563 shares of Class A common stock.
Consists of 72,643 shares of Class A common stock.
Consists of 52,161 shares of Class A common stock.
Consists of 25,219 shares of Class A common stock.
Consists of (i) 101,248 shares of Class A common stock and (ii) 180,000 shares of Class A common stock subject to options exercisable within 60 days following April 7, 2026.
Includes (i) 4,197,628 shares of Class A common stock, (ii) 3,556,462 shares of Class B common stock
(iii) 19,415 shares of Class A common stock issuable pursuant to restricted stock units vesting within
60 days following April 7, 2026 and (iv) 603,938 shares of Class A common stock subject to options held by our executive officers and directors exercisable within 60 days following April 7, 2026.
Section 16(a) of the Exchange Act requires our directors, executive officers and persons who own more than 10% of our common stock to file with the SEC initial reports of beneficial ownership and reports of changes in beneficial ownership. Officers, directors and greater than 10% stockholders are required by SEC regulations to furnish us with copies of all such reports. To our knowledge, based solely on a review of the copies of such reports furnished to us and written representations that no other reports were required, we believe that for 2025 all required reports were filed on a timely basis under Section 16(a), except for:
Jayme Mendal, our Chief Executive Officer and President, filed a Form 4 on April 4, 2025, reporting a tax withholding of 17,287 shares of Class A common stock on April 1, 2025.
Joseph Sanborn, our Chief Financial Officer, filed a Form 4 on April 4, 2025, reporting a tax withholding of 4,497 shares of Class A common stock on April 1, 2025. The Form 4 also timely reported sales transactions occurring on April 2, 2025.
David Brainard, our Chief Technology Officer, filed a Form 4 on April 4, 2025, reporting a tax withholding of 5,349 shares of Class A common stock on April 1, 2025.
Jon Ayotte, our Chief Accounting Officer, filed a Form 4 on April 4, 2025, reporting a tax withholding of 490 shares of Class A common stock on April 1, 2025.
Julia Brncic, our former General Counsel and Secretary, filed a Form 4 on April 4, 2025, reporting a tax withholding of 2,878 shares of Class A common stock on April 1, 2025.
This Compensation Discussion and Analysis discusses our compensation philosophy and explains how our executive compensation program is structured to advance our goal of aligning our executives' compensation with the long-term interests of EverQuote stockholders. We also explain how the Board's Compensation Committee determined compensation for our named executive officers (our "NEOs") and the Compensation Committee's rationale for specific pay decisions. Our NEOs for 2025 were:
Jayme Mendal Chief Executive Officer and President
Age: 40
Joseph Sanborn
Chief Financial Officer, Chief Administrative Officer, Treasurer and Secretary
Age: 56
David Brainard Chief Technology Officer
Age:54
Jon Ayotte
Chief Accounting Officer
Age: 42
In addition, Julia Brncic (age 52), our Former General Counsel and Secretary, served as an executive officer until her resignation on September 12, 2025, and is therefore also an NEO for 2025.
Executive Summary
Business Highlights
2025 was a record year for EverQuote across all three key operating metrics. We continue to scale our marketplace, further integrate AI into our operations, and accelerate our strategy a growth partner for property and casualty insurance providers. Our results-driven marketplace, powered by our proprietary data and technology platform, is improving the way insurance providers attract and connect with consumers shopping for insurance.
Revenue ($M)
$693M
38% YoY Growth
Revenue ($M)
Adjusted EBITDA ($M)
$693
$63
13.7%
$404
$500
$2
$52
11.6%
$418
$50
$38
Adjusted EBITDA ($M)
$94.6M
13.7% Adjusted EBITDA Margin
$288
$20
$65
$32
$630
$446
$58
3.5%
$331
$324
$228
$15
2021 2022 2023 2024 2025
2021
1.5%
$6
2022
0.1%
$1
2023
2024 2025
Auto Home/Renters Other
EBITDA
EBITDA Margin
$41
$48
Record Revenue Growth
In 2025, EverQuote generated record revenue of $692.5 million, representing 38% year-over-year growth. This performance was driven by deepening provider engagement and continued expansion of our marketplace.
Growth in Variable Marketing Dollars
Variable Marketing Dollars, a key indicator of marketplace efficiency, reached a record $191.9 million, representing 24% growth compared to the prior year. This increase reflects the continued expansion of our platform, improved monetization, new traffic channels and strong participation from our traffic partners.
Significant Profitability Expansion
2025 Adjusted EBITDA was also a record of $94.6 million, representing 62% growth year-over-year, driven by strong operating leverage of our business and disciplined expense management. Adjusted EBITDA margin increased by 200 basis points year-over-year to 13.7%. The growth in Adjusted EBITDA and Adjusted EBITDA margin demonstrates our ability to translate strong revenue growth into meaningful profitability improvements while continuing to invest in the long-term growth of the business.
Strategic Execution
During 2025, management remained focused on executing our long-term strategy of strengthening relationships with our carrier partners, expanding our marketplace and investing in AI, technology and data capabilities to enhance the insurance provider experience and drive operating efficiencies. These efforts contributed to our record financial performance and positioned the Company for continued long-term growth.
The Compensation Committee believes that the Company's strong performance in 2025, including record levels of revenue, Variable Marketing Dollars, and Adjusted EBITDA, reflects the effective execution of our strategy by management and supports the performance-based outcomes of our executive compensation programs.
Compensation Highlights
Our executive compensation program aligns with our strategy and with stockholder interests in three significant respects.
T
r
Compensation Philosophy and Objectives
The objective of our compensation program is to enable us to hire, reward, and retain the world-class talent that we need to execute our strategy and successfully pursue our mission of helping people protect life's most important assets by simplifying the experience of shopping for insurance. To that end, our short- and long-term incentive compensation programs are tied to performance to ensure that only consistent and strong results will lead to higher compensation.
As EverQuote grows, the Compensation Committee will evaluate our compensation philosophy and objectives regularly to confirm that our program continues to appropriately encourage, motivate, and reward our NEOs.
Chief Executive Officer(1)(2)
Other NEOs (Average)(1)(2)
10%
10%
23%
40%
90%
At-Risk Pay
41%
77%
At-Risk Pay
13%
40%
22%
50%
Performance-Based
36%
Percentages may not add up to 100% due to rounding
Excludes the Outperformance PSUs granted in February 2025 and October 2025 (Mr. Ayotte only) to each of the NEOs
Disclaimer
EverQuote Inc. published this content on April 23, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 23, 2026 at 22:31 UTC.