Form 4: Lucid Group Executive Eric Bach Sells Shares to Cover Tax Obligations

Lucid Group's SVP, Product & Chief Engineer, Eric Bach, sold 100,815 shares of Class A Common Stock to cover tax obligations related to vesting of performance stock units and restricted stock units.

Summary

• Eric Bach, SVP, Product & Chief Engineer at Lucid Group, sold 100,815 shares of Class A Common Stock on December 5, 2024.
• The sale was executed at a price of $2.1 per share.
• This transaction was to cover tax withholding and remittance obligations related to the vesting of performance stock units (PSUs) and restricted stock units (RSUs).
• Following the transaction, Eric Bach beneficially owns 2,791,795 shares of Lucid Group Class A Common Stock.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, not indicative of positive or negative sentiment towards the company's performance.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when stock options or restricted stock units vest.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• The amount of shares sold is typical for an executive at this level with stock-based compensation.
• Similar transactions are regularly reported by executives at other automotive and technology companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates

Keywords

Lucid Group, Eric Bach, SEC Form 4, stock sale, insider trading, executive compensation, tax obligations, performance stock units, restricted stock units