Lucid Group has published a new Form 8-K listing the new approved salaries for the executive team at Lucid Motors. On May 26, 2022, the Compensation Committee of the Board of Directors of Lucid Group, Inc. approved an increase to the annual base salaries of the following named executive officers of the Company effective as of June 6, 2022.
Here is a table showing the new base salary compared to the 2021 base salary we reported over here.
| Name | Title | New Base Salary | Previous Salary |
|---|---|---|---|
| Sherry House | Chief Financial Officer | $535,000 | 317,308 |
| Eric Bach | Senior VP, Product & Engineer | $525,000 | 414,423 |
| Michael Bell | Senior VP, Digital | $525,000 | 500,962 |
Also, Lucid Group published some Form 4 filings showing stock transactions under these executives. It seems these three executives also all received 274,122 shares of LCID.
- Peter Rawlinson the CEO and CTO (Form-4) sold/disposed 466,751 shares at $18.67
- Sherry House the CFO (Form-4) acquired 274,122 shares
- Eric Bach, SVP (Form-4) acquired 274,122 shares
- Michael Bell, SVP (Form-4) acquired 274,122 shares
A note on Peter Rawlinson’s transaction. As part of Mr. Rawlinson compensation and the amount he cashes out is directly correlated to the stock price. This is pre planned & agreed upon for 16 quarters before the company IPO so this is sale 3 of 16 total to account for compensation and his tax liability, as per @JazzyLove_LCID.
Here is a screenshot from the Form 8-K filing of the new base salaries:
Here is the 2021 and 2020 salaries and compensations from the annual report for 2021 published in April 2022’s DEF 14A filing.
