SCHEDULE: Bank of America Amends Lucid Group Stake Disclosure

Bank of America Corporation filed an amended Schedule 13G, correcting its reported beneficial ownership in Lucid Group, Inc. following a 1-for-10 reverse stock split.

Summary

• Bank of America Corp /DE/ filed Amendment No. 1 to its Schedule 13G for Lucid Group, Inc. Class A Common Stock.
• The amendment corrects previously reported information regarding shared voting power, shared dispositive power, aggregate amount beneficially owned, and percent of class.
• The correction accounts for a 1-for-10 reverse stock split effected by Lucid Group, Inc. on September 2, 2025, which was not reflected in the original calculation.
• Beneficial ownership is now calculated using 324,164,267 shares of Class A Common Stock outstanding as of September 30, 2025, as disclosed in Lucid Group's Form 8-K filed on November 5, 2025.
• Bank of America Corp /DE/ beneficially owns 3,450,865 shares of Lucid Group, Inc. Class A Common Stock.
• This ownership represents 1.1% of the Class A Common Stock outstanding.
• The reporting person's beneficial ownership has not exceeded five percent of Lucid Group's outstanding Class A Common Stock at any time.

Sentiment

Score: 5

Explanation: The filing is a routine amendment to correct previously reported beneficial ownership data following a corporate action (reverse stock split). It does not reflect operational performance or strategic changes for the issuer, thus maintaining a neutral sentiment.

Positives

• The filing provides a clear correction and updated beneficial ownership information, enhancing transparency and accuracy of public records.

Negatives

• The original Schedule 13G filed on November 14, 2025, contained incorrect information regarding beneficial ownership, necessitating this amendment.

Future Outlook

NA

Management Comments

• I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.

Industry Context

NA

Stakeholder Impact

• Shareholders: Provides updated and accurate information regarding a significant institutional holder's stake, ensuring transparency in ownership structure.

Key Dates

Keywords

Lucid Group, LCID, Bank of America, BAC, Schedule 13G, beneficial ownership, stock split, Class A Common Stock, SEC filing