Form 4: Rivian CEO Robert Scaringe Executes Stock Transactions Under 10b5-1 Plan
SEC Form 4 Filing
Rivian's CEO, Robert Scaringe, executed a series of stock transactions, including the exercise of stock options and the sale of shares, under a pre-arranged 10b5-1 trading plan.
Summary
- Rivian CEO Robert Scaringe exercised stock options to acquire 71,429 shares of Class A Common Stock at a price of $2.6282 per share on December 23, 2024.
- On the same day, Scaringe sold 71,429 shares of Class A Common Stock at a weighted average price of $13.878 per share, with individual sales ranging from $13.725 to $14.075.
- These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 8, 2024.
- Following these transactions, Scaringe directly owns 863,361 shares of Class A Common Stock and indirectly owns 4,595 shares through an LLC and 2,632,766 shares through a trust.
- Scaringe also holds 7,820,976 stock options.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing detailing stock transactions by an executive, which is neither positive nor negative in itself. The use of a 10b5-1 plan indicates a planned and expected transaction.
Industry Context
This is a routine filing related to insider trading activity, which is common for executives of publicly traded companies. The use of a 10b5-1 plan is a standard practice to avoid accusations of insider trading.
Comparison to Industry Standards
- The use of a 10b5-1 trading plan is a common practice among executives at publicly traded companies, including those in the automotive and technology sectors, such as Tesla and Lucid.
- The reported transactions are typical for executives who receive stock options as part of their compensation packages.
- The price range of the stock sale is within the normal fluctuations of the market.
Stakeholder Impact
- The transactions may have a minor impact on the stock price, but the use of a 10b5-1 plan suggests that the transactions were planned and not based on any new material information.
- The transactions do not have a direct impact on employees, customers, or suppliers.
Key Dates
| Date | Description |
|---|---|
| 2023-02-14 | Stock options fully vested. |
| 2024-03-08 | 10b5-1 trading plan adopted. |
| 2024-05-07 | Reference to the filing of the Issuer's Quarterly Report on Form 10-Q for the three months ended March 31, 2024. |
| 2024-12-23 | Stock options exercised and shares sold. |
| 2024-12-26 | Date of filing. |
Keywords
Rivian, Robert Scaringe, stock options, stock sale, 10b5-1 plan, insider trading, Class A Common Stock
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