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Lucid, Rivian Each Awarded CEOs More Than $400 Million in Pay Last Year

The chief executives of electric-vehicle startups Lucid Group and Rivian Automotive every obtained pay packages final yr valued at over $400 million, as each corporations raced to public markets and elevated manufacturing in the rising EV market.

Equity accounted for the majority of the practically $566 million in compensation for Lucid CEO Peter Rawlinson and $422 million for Rivian chief RJ Scaringe. The reported pay is a steep elevate from 2020 and displays, in half, the businesses’ ambitions for progress. What executives in the end obtain will rise or fall with the businesses’ inventory costs, and a number of the fairness awards might expire nugatory if targets aren’t met or they depart.