Form 4: Rivian CEO Robert Scaringe Reports Stock Transactions Following RSU Vesting
SEC Form 4 Filing
Rivian CEO Robert Scaringe reports the vesting of restricted stock units and subsequent tax withholding, resulting in changes to his beneficial ownership of Class A Common Stock.
Summary
- On March 1, 2024, Rivian CEO Robert Scaringe reported transactions related to his beneficial ownership of Rivian Automotive, Inc. stock.
- The transactions include the vesting of 24,524 restricted stock units (RSUs) on March 1, 2024.
- 8,751 shares of Class A Common Stock were withheld by the company to cover tax obligations related to the RSU vesting at a price of $11.32.
- Following these transactions, Scaringe directly owns 487,292 shares of Class A Common Stock.
- Scaringe also indirectly owns 4,595 shares through an LLC and 2,632,766 shares through a trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's stock. This filing indicates the CEO's compensation structure includes stock-based awards.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the CEO's stock ownership.
- The tax withholding impacts the number of shares ultimately held by the CEO.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of RSU vesting and stock transactions. |
| 02/29/2024 | Closing price of Rivian's Class A Common Stock used for tax withholding ($11.32). |
| 03/05/2024 | Date of Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.