Form 4: Rivian Executive Kjell Gruner Disposes of Shares to Cover Tax Obligations

Chief Commercial Officer of Rivian Automotive, Kjell Gruner, disposed of 9,700 shares of Class A Common Stock to cover tax obligations related to vesting of Restricted Stock Units.

Summary

• Kjell Gruner, Chief Commercial Officer of Rivian Automotive, Inc., filed a Form 4 on May 17, 2024.
• On May 15, 2024, Gruner disposed of 9,700 shares of Class A Common Stock.
• The shares were withheld by the company to satisfy tax withholding obligations related to the vesting of 27,186 Restricted Stock Units.
• The price per share was $11.19, which was the closing price of Rivian's Class A Common Stock on May 14, 2024.
• Following the transaction, Gruner beneficially owns 398,087 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: This is a neutral transaction related to tax obligations, not indicative of positive or negative sentiment towards the company's prospects.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation and tax planning. This transaction is a routine event and doesn't necessarily indicate a change in the executive's confidence in the company.

Comparison to Industry Standards

• Executive compensation packages often include stock options and restricted stock units, which vest over time.
• It is standard practice for companies to withhold shares to cover tax obligations when these units vest.
• The amount withheld depends on the executive's tax bracket and the company's policies.
• Comparing Gruner's holdings and transactions to those of executives at companies like Tesla (TSLA) or Lucid (LCID) would provide a broader context, but that data is not available in this document.

Key Dates