Form 4: Lucid Group Director and 10% Owner Reports Significant RSU Grants and Tax-Related Share Disposition

Turqi A. Alnowaiser, a Director and 10% owner of Lucid Group, Inc., reported the acquisition of 115,155 Class A Common Stock shares through RSU grants and the disposition of 4,973 shares for tax withholding purposes.

Summary

• Turqi A. Alnowaiser, a Director and 10% owner of Lucid Group, Inc. (LCID), filed a Form 4 detailing recent transactions.
• On June 4, 2025, 4,973 shares of Class A Common Stock were disposed of at a price of $2.19 per share to satisfy tax withholding obligations related to previously vested restricted stock units.
• On June 5, 2025, Mr. Alnowaiser was granted 108,713 restricted stock units (RSUs) which will vest on the earlier of the one-year anniversary of the grant date or the date of the next annual meeting of stockholders, subject to his continued service.
• Also on June 5, 2025, an additional 6,442 RSUs were granted, which vested in full on the date of grant in connection with past service.
• Following these transactions, Mr. Alnowaiser directly beneficially owns 2,324,274 shares of Class A Common Stock.
• He is also deemed a beneficial owner of 2,248,197,909 shares held by Ayar Third Investment Company (a PIF subsidiary) due to voting power, though he disclaims pecuniary interest in these shares.

Sentiment

Score: 6

Explanation: The filing is largely neutral, detailing routine insider transactions. The RSU grants are a positive for aligning director incentives, while the tax-related disposition is a standard, neutral event. The significant beneficial ownership through PIF is a known factor.

Positives

• Grant of 108,713 restricted stock units (RSUs) to a director, aligning his interests with long-term shareholder value, with vesting contingent on continued service.
• Grant of 6,442 RSUs for past service, recognizing contributions.

Negatives

• Disposition of 4,973 shares to cover tax withholding obligations, which is a standard procedure but reduces direct share count.

Future Outlook

The vesting schedule for the 108,713 restricted stock units (RSUs) indicates a future vesting event on the earlier of the one-year anniversary of the grant date or the date of the next annual meeting of stockholders, contingent on the reporting person's continued service on the board.

Industry Context

This Form 4 filing reflects routine insider compensation and tax-related transactions for a director and significant shareholder of an electric vehicle manufacturer. Such grants are common mechanisms to align executive and director incentives with long-term company performance, a practice prevalent across various industries, including the high-growth automotive technology sector.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) as part of director compensation is a standard practice in publicly traded companies, including those in the automotive and technology sectors like Tesla, Rivian, or traditional automakers transitioning to EVs.
• The vesting schedule tied to continued service is also typical for retaining key board members and aligning their interests with shareholder value.
• The tax withholding transaction is a routine compliance event for equity compensation.

Corporate Governance

Related Party Transactions

• The reporting person is deemed a beneficial owner of 2,248,197,909 shares held by Ayar Third Investment Company, a wholly-owned subsidiary of The Public Investment Fund (PIF), due to voting power delegated as a co-manager. This highlights a significant relationship with a major shareholder.

Stakeholder Impact

• Shareholders: The RSU grants align the director's interests with long-term shareholder value. The tax-related share disposition is a routine event with minimal direct impact. The significant indirect ownership through PIF reinforces the stability of a major institutional investor's stake.
• Employees: Not directly impacted by this specific filing.
• Customers/Suppliers/Creditors: Not directly impacted by this specific filing.

Next Steps

• Vesting of 108,713 restricted stock units on the earlier of the one-year anniversary of the grant date or the date of the next annual meeting of stockholders, subject to continued service.

Key Dates

Recommendation

Keywords

Lucid Group, LCID, Form 4, SEC Filing, Insider Trading, Restricted Stock Units, RSU, Beneficial Ownership, Director Compensation, Public Investment Fund, PIF, Ayar Third Investment Company, Turqi A. Alnowaiser