Lucid Group (LCID) boosts CFO stipend and adds repatriation support

Rhea-AI Filing Summary

Lucid Group, Inc. filed an update on compensation arrangements for its Chief Financial Officer, Taoufiq Boussaid. On January 20, 2026, the Board’s Compensation and Human Capital Committee, working with its independent consultant Pay Governance LLC, approved several adjustments to benefits originally outlined in his November 15, 2024 offer letter. The Committee extended his temporary housing subsidy from six months to twelve months and increased his annual stipend from $100,000 to $200,000 based on a reassessment of his personal cost to participate in the French retirement system. It also approved repatriation benefits and two years of tax and immigration support benefits, with the total for these items capped at $275,000, tied to his status as a French national and payable if he experiences an Involuntary Termination Without Cause. These changes are documented in an offer letter amendment filed as exhibit 10.1.

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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 20, 2026

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 20, 2026, the Compensation and Human Capital Committee (the “Committee”) of the Board of Directors of Lucid Group, Inc. (the “Company”), in consultation with the Committee’s independent compensation consultant Pay Governance LLC, approved the following arrangements and the Offer Letter Amendment (as defined below) for Taoufiq Boussaid, the Company’s Chief Financial Officer, based on its review of benefits provided under the Company’s executive compensation program: (i) extended the temporary housing subsidy described in the Boussaid Offer Letter (as defined below) from six months to twelve months, (ii) increased the annual stipend referenced in the Boussaid Offer Letter from $100,000 to $200,000 per year based on an updated assessment of Mr. Boussaid’s personal cost to participate in the French retirement system, and (iii) approved certain repatriation benefits and two years of tax and immigration support benefits (with the total of such benefits in (iii) not to exceed $275,000) for Mr. Boussaid in connection with his status as a French national, which Mr. Boussaid would be eligible to receive if his employment with the Company and its subsidiaries terminates due to an Involuntary Termination Without Cause (as defined in the Lucid Group, Inc. Executive Severance Benefit Plan, as it may be amended from time to time) (the foregoing (i) to (iii), the “Boussaid Benefits Adjustments”). The Committee believes these adjustments are consistent with their intent with approving the Boussaid Offer Letter but were made as additional circumstances and information became known during the course of Mr. Boussaid’s employment with the Company.

The Boussaid Benefits Adjustments are documented in an amendment (the “Offer Letter Amendment”) to Mr. Boussaid’s offer letter with Lucid USA, Inc. dated November 15, 2024, copy of which was filed with the Securities and Exchange Commission as an exhibit to the Company’s Annual Report on Form 10-K filed on February 25, 2025 (such offer letter, the “Boussaid Offer Letter”).

The foregoing summary of the Offer Letter Amendment is qualified in its entirety by reference to the Offer Letter Amendment, a copy of which is attached to this Current Report on Form 8-K as exhibit 10.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.						Description
10.1						Offer Letter Amendment for Taoufiq Boussaid, dated January 20, 2026
104						Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 23, 2026
			LUCID GROUP, INC.
			By:			/s/ Marc Winterhoff
						Marc Winterhoff
						Interim Chief Executive Officer

FAQ

What did Lucid Group (LCID) change in its CFO’s compensation package?

The Compensation and Human Capital Committee approved adjustments to Chief Financial Officer Taoufiq Boussaid’s benefits, including a longer temporary housing subsidy, a higher annual stipend related to the French retirement system, and capped repatriation and tax/immigration support benefits tied to certain termination conditions.

How was the housing subsidy for Lucid Group’s CFO modified?

The Committee extended Mr. Boussaid’s temporary housing subsidy from six months to twelve months, reflecting updated circumstances identified during his employment.

Why did Lucid Group increase the annual stipend for its CFO to $200,000?

The annual stipend referenced in the Boussaid Offer Letter was increased from $100,000 to $200,000 per year based on an updated assessment of Mr. Boussaid’s personal cost to participate in the French retirement system.

What repatriation and support benefits did Lucid Group approve for its CFO?

Lucid approved repatriation benefits and two years of tax and immigration support benefits for Mr. Boussaid, with the total of these items not to exceed $275,000, in connection with his status as a French national.

Under what conditions can the Lucid CFO receive the repatriation and tax/immigration benefits?

Mr. Boussaid is eligible for the repatriation and tax and immigration support benefits if his employment with Lucid Group, Inc. and its subsidiaries terminates due to an Involuntary Termination Without Cause, as defined in the Lucid Group, Inc. Executive Severance Benefit Plan.

Where can investors find the full details of the Lucid CFO Offer Letter Amendment?

The adjustments are documented in an Offer Letter Amendment for Taoufiq Boussaid dated January 20, 2026, which is filed as Exhibit 10.1 to this report and incorporated by reference.

Who approved the compensation adjustments for Lucid Group’s CFO?

The adjustments were approved by Lucid Group’s Compensation and Human Capital Committee of the Board of Directors, in consultation with its independent compensation consultant Pay Governance LLC.