"Rivian is offering CEO RJ Scaringe a new stock-based compensation package worth up to $5 billion That's contingent on the company's stock hitting $140 per share, plus strong performance, including profitability by 2032. Scaringe's base salary doubles to $2 million, and he also receives a 10% stake in Rivian's new Mind Robotics subsidiary focused on physical AI. Rivian is offering CEO RJ Scaringe a new compensation plan that could be worth billions of dollars if the company performs exceptionally well over the next several years."
"Under the new offer, Scaringe would be able to purchase up to 36.5 million Rivian shares at $15.22 per share, TechCrunch first reported, citing an SEC filing. The 2025 CEO award is designed to retain and incentivize Dr. Scaringe to execute on the Company's critical next phase as it progresses its technology roadmap and launches R2, which the Committee believes is in the best interests of the company and its stockholders, the company noted in the SEC filing."
Rivian proposed a new CEO compensation plan allowing RJ Scaringe to purchase up to 36.5 million shares at $15.22 per share, contingent on strong operational performance and a stock price of $140. The award could be worth up to $5 billion if Rivian achieves targets including successful production and sales of the R2 mid-size SUV and subsequent models. Scaringe's base salary would double to $2 million and he would receive a 10% stake in Mind Robotics, a subsidiary focused on physical AI. A prior 2021 award was scrapped as unattainable. Meeting the goals could add roughly $153 billion to current market value.
Read at insideevs.com
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