Form 4: Rivian CEO Robert Scaringe Disposes of Shares to Cover Tax Obligations

Rivian CEO Robert Scaringe disposed of 23,165 shares of Class A Common Stock to cover tax obligations related to vesting of restricted stock units.

Summary

• Rivian Automotive CEO Robert Scaringe disposed of 23,165 shares of Class A Common Stock on November 15, 2024.
• The shares were withheld by the company to satisfy tax obligations related to the vesting of 45,707 Restricted Stock Units.
• The transaction price was $10.31 per share, which was the closing price on November 14, 2024.
• Following the transaction, Scaringe directly owns 863,361 shares of Class A Common Stock.
• He also indirectly owns 4,595 shares through an LLC and 2,632,766 shares through a trust.

Sentiment

Score: 5

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

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for shares to be withheld to cover tax obligations upon vesting.

Comparison to Industry Standards

• Similar transactions are common among executives at publicly traded companies, especially those who receive a significant portion of their compensation in stock options or restricted stock units.
• The sale of shares to cover tax obligations is a standard practice and does not necessarily indicate a change in the executive's outlook on the company's future.

Stakeholder Impact

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

Key Dates

Keywords

Rivian, Robert Scaringe, insider trading, SEC Form 4, stock disposal, tax obligations, restricted stock units, RIVN