Form 4: Lucid Group Interim CEO Marc Winterhoff Reports Stock Disposition for Tax Obligations
Statement of Changes in Beneficial Ownership
Lucid Group, Inc.'s Interim CEO, Marc Winterhoff, reported the disposition of 153,384 shares of Class A Common Stock on June 5, 2025, to cover tax withholding obligations related to vested equity awards.
Summary
- Marc Winterhoff, Interim CEO of Lucid Group, Inc. (LCID), reported a transaction on June 5, 2025.
- The transaction involved the disposition of 153,384 shares of Class A Common Stock.
- These shares were withheld by Lucid Group to satisfy tax withholding and remittance obligations.
- The disposition is linked to the settlement of performance-based restricted stock units (PSUs) and the time-based vesting of restricted stock units (RSUs).
- The price per share for the disposition was $2.23.
- Following this transaction, Marc Winterhoff beneficially owns 2,783,885 shares of Class A Common Stock.
- A Power of Attorney document, dated June 3, 2025, grants authority to Gagan Dhingra, Brian Tomkiel, Doug Stewart, and Bruce Wang to file SEC reports on behalf of Marc Winterhoff.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the transaction is a routine disposition of shares for tax purposes, which is a common and expected event for executives receiving equity compensation. It does not indicate a change in investment sentiment or company performance.
Future Outlook
This document does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.
Industry Context
This Form 4 filing is a routine disclosure of an insider transaction, specifically a disposition of shares to cover tax obligations related to equity compensation. Such transactions are common across all industries for executives receiving stock-based awards and do not inherently reflect on broader industry trends or the company's operational performance.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Interim CEO | NA | Marc Winterhoff | NA | Marc Winterhoff is identified as the Interim CEO in this filing, but the document does not detail a change in this role. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Grant | Marc Winterhoff granted a Power of Attorney to Gagan Dhingra, Brian Tomkiel, Doug Stewart, and Bruce Wang to execute and file Forms 3, 4, 5, and 144 on his behalf, ensuring compliance with Section 16(a) of the Securities Exchange Act of 1934 and the Securities Act of 1933. | 06/03/2025 | This streamlines the process for insider trading compliance filings for the Interim CEO, ensuring timely and accurate reporting of his beneficial ownership and transactions in company securities. |
Stakeholder Impact
- Shareholders: The transaction is a routine tax-related disposition and does not indicate a change in the company's operational or financial health, thus having minimal direct impact on shareholders beyond a minor reduction in insider holdings.
Key Dates
| Date | Description |
|---|---|
| 06/03/2025 | Date Marc Winterhoff signed the Power of Attorney document. |
| 06/05/2025 | Date of the reported transaction (disposition of shares). |
| 06/09/2025 | Date the Form 4 was signed by Bruce Wang, attorney-in-fact for Marc Winterhoff. |
Keywords
Lucid Group, LCID, Marc Winterhoff, Form 4, SEC filing, stock disposition, tax withholding, restricted stock units, PSUs, RSUs, insider transaction, equity compensation
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