Form 4: Lucid Group CEO Peter Rawlinson Disposes of Shares to Cover Tax Obligations

Peter Rawlinson, CEO of Lucid Group, disposed of 476,262 shares of Class A Common Stock to cover tax withholding obligations related to vesting restricted stock units.

Summary

• On September 5, 2024, Peter Rawlinson, CEO and Chief Technology Officer of Lucid Group, disposed of 476,262 shares of Class A Common Stock.
• The transaction was executed to satisfy tax withholding and remittance obligations related to the vesting of restricted stock units previously reported on July 27, 2021.
• The shares were disposed of at a price of $3.82 per share.
• Following the transaction, Rawlinson directly owns 18,530,641 shares of Lucid Group's Class A Common Stock.

Sentiment

Score: 5

Explanation: The document itself is neutral, reporting a routine transaction. The impact on sentiment depends on investor perception of insider selling, but in this case, it's likely minimal due to the stated reason.

Industry Context

Executive share disposals are common and often related to tax obligations. The market will likely assess the transaction in the context of Rawlinson's overall holdings and the company's performance.

Comparison to Industry Standards

• Executive compensation packages often include stock options and restricted stock units, leading to periodic share disposals for tax purposes.
• Tesla's Elon Musk has also periodically sold shares to cover tax obligations and fund other ventures.
• The percentage of shares disposed of relative to Rawlinson's total holdings is a key metric for comparison.

Stakeholder Impact

• The share disposal could have a minor impact on shareholders if it creates downward pressure on the stock price, although this is unlikely given the stated reason for the sale.
• The transaction does not directly impact employees, customers, suppliers, or creditors.

Key Dates