Lucid Group Inc. Announces Board and Executive Compensation Changes

Ticker: LCID · Form: 8-K · Filed: 2025-01-28T00:00:00.000Z

Sentiment: neutral

Topics: governance, executive-compensation, board-changes

Related Tickers: LCID

TL;DR

Lucid's board is shaking up, with new directors and updated exec pay plans.

AI Summary

Lucid Group, Inc. announced on January 28, 2025, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain directors and the election of new ones, alongside updates to the compensatory arrangements for its officers.

Why It Matters

Changes in a company's board and executive compensation can signal shifts in strategy, governance, or financial outlook, impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts that may affect company strategy and performance.

Key Players & Entities

FAQ

What specific reasons were given for the departure of directors?

The filing indicates the departure of directors but does not specify the reasons in the provided text.

Who are the newly elected directors?

The filing mentions the election of directors but does not list their names in the provided text.

What are the key changes in the compensatory arrangements for officers?

The filing states that there are updates to compensatory arrangements but does not detail the specific changes in the provided text.

When did Lucid Group, Inc. change its name from Churchill Capital Corp IV?

Lucid Group, Inc. changed its name from Churchill Capital Corp IV on July 14, 2020.

What is the principal executive office address for Lucid Group, Inc.?

The principal executive office address for Lucid Group, Inc. is 7373 Gateway Boulevard, Newark, CA 94560.

From the Filing

0001628280-25-002774.txt : 20250128 0001628280-25-002774.hdr.sgml : 20250128 20250128160643 ACCESSION NUMBER: 0001628280-25-002774 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20250128 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20250128 DATE AS OF CHANGE: 20250128 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Lucid Group, Inc. CENTRAL INDEX KEY: 0001811210 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 850891392 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39408 FILM NUMBER: 25564173 BUSINESS ADDRESS: STREET 1: 7373 GATEWAY BLVD. CITY: NEWARK STATE: CA ZIP: 94560 BUSINESS PHONE: (510) 648-3553 MAIL ADDRESS: STREET 1: 7373 GATEWAY BLVD. CITY: NEWARK STATE: CA ZIP: 94560 FORMER COMPANY: FORMER CONFORMED NAME: Churchill Capital Corp IV DATE OF NAME CHANGE: 20200714 FORMER COMPANY: FORMER CONFORMED NAME: Annetta Acquisition Corp DATE OF NAME CHANGE: 20200504 8-K 1 lcid-20250128.htm 8-K lcid-20250128 FALSE 0001811210 0001811210 2025-01-28 2025-01-28 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (date of earliest event reported): January 28, 2025 Lucid Group, Inc. (Exact name of registrant as specified in its charter) Delaware 001-39408 85-0891392 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.) 7373 Gateway Boulevard Newark , CA 94560 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: ( 510 ) 648-3553 (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, $0.0001 par value per share LCID The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 28, 2025, Lucid Group, Inc. (“Lucid” or the “Company”) announced that Taoufiq Boussaid will join the Company on January 29, 2025, and will be appointed the Company’s Chief Financial Officer upon the filing of the Company’s Annual Report on Form 10-K for the fiscal year 2024. Upon his appointment as Chief Financial Officer,

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