[Form 4] Lucid Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Lucid Group, Inc. (LCID) insider transaction: SVP Finance & Accounting Gagan Dhingra reported a disposition of 8,262 Class A common shares on 09/05/2025 at a price of $16.16 per share. The filing states these shares were withheld by the issuer to satisfy tax withholding in connection with settlement of previously granted performance-based restricted stock units (PSUs) and time-based restricted stock units (RSUs). After the transaction (and reflecting a 1-for-10 reverse stock split effective August 29, 2025), Dhingra beneficially owns 135,586 shares. The filing was signed by an attorney-in-fact on behalf of the reporting person.

Insights

Securities Analyst

TL;DR: A routine tax-withholding share disposition tied to equity compensation; not clearly material to Lucid's fundamentals.

The Form 4 documents a common administrative share withholding to satisfy taxes on vested PSUs and RSUs rather than a voluntary open-market cash sale. The transaction size (8,262 shares) should be viewed in the context of the post-reverse-split beneficial ownership (135,586 shares). Because the filing explicitly ties the disposition to tax remittance for equity settlement, it lacks evidence of executive-initiated cash-liquidation motives. Impact to outstanding float and control appears limited based on disclosed post-transaction holdings.

Corporate Governance Expert

TL;DR: Disclosure aligns with standard practice for withholding on vested equity awards; governance implications are minimal.

The report includes an explanation that shares were withheld to meet tax obligations on vested RSUs/PSUs and notes the reporting person's role as Principal Accounting Officer. The filing also reflects the company's recent 1-for-10 reverse stock split and clarifies rounding adjustments. From a governance standpoint, the filing is clear about purpose and follows Section 16 reporting norms; it does not suggest unusual insider behavior or departures from routine equity-compensation administration.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Dhingra Gagan

(Last) (First) (Middle)

C/O LUCID GROUP, INC.

7373 GATEWAY BOULEVARD

(Street)

NEWARK CA 94560

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Lucid Group, Inc. [ LCID ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP Finance & Accounting

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/05/2025		F		8,262(1)(2)	D	$16.16(2)	135,586(2)(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares withheld by the Issuer to satisfy tax withholding and remittance obligations in connection with the settlement of performance-based restricted stock units ("PSUs"), for which service-based vesting requirements have been satisfied, and the vesting of time-based restricted stock units ("RSUs"). The acquisition of such PSUs and RSUs was previously reported on Form 4s filed by the reporting person.

2. Share and dollar amounts give effect to the Issuer's 1-for-10 reverse stock split that was effectuated on August 29, 2025 (the "Reverse Stock Split").

3. The number of shares beneficially owned by the reporting person has been updated to account for rounding as a result of the Reverse Stock Split.

Remarks:

Mr. Dhingra serves as the Issuer's Principal Accounting Officer.

	/s/ Bruce Wang, as attorney-in-fact for Gagan Dhingra	09/09/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Lucid Group insider Gagan Dhingra report on Form 4 (LCID)?

The Form 4 reports a disposition of 8,262 Class A shares on 09/05/2025 at $16.16 per share, related to tax withholding for vested PSUs and RSUs.

Why were shares disposed of by the reporting person on this Form 4?

The filing states the shares were withheld by the issuer to satisfy tax withholding and remittance obligations in connection with settlement of previously granted PSUs and RSUs.

How many shares does Gagan Dhingra beneficially own after the reported transaction?

After the transaction and reflecting the 1-for-10 reverse stock split, the reporting person beneficially owns 135,586 shares.

Does the Form 4 indicate an open-market sale by the insider?

No. The Form 4 characterizes the transaction as issuer withholding to cover taxes on vested awards, not an open-market cash sale initiated by the insider.

Was the share count adjusted for the reverse stock split?

Yes. The filing notes that share and dollar amounts reflect the 1-for-10 reverse stock split effective August 29, 2025, and beneficial ownership was updated for rounding.