Lucid Group (LCID) awards 1M options and 402k RSUs to director
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Lucid Group, Inc. director Silvio Napoli received new equity awards. He was granted employee stock options covering 1,000,000 shares of Class A common stock at an exercise price of $8.21 per share, expiring on April 15, 2036. He was also granted 402,073 restricted stock units that vest over four years, starting on June 5, 2027. Following these grants, he directly holds 402,073 shares of Class A common stock subject to time-based vesting.
The stock options are performance-based and split into five tranches. Each tranche vests only after both its scheduled time-based vesting date between April 15, 2028 and April 15, 2030 and certification that Lucid has achieved a specified market capitalization hurdle ranging from $5.0 billion to $17.5 billion, assuming Napoli remains employed through each vesting date.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Napoli Silvio
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Employee Stock Option (right to buy) | 1,000,000 | $0.00 | -- |
| Grant/Award | Class A Common Stock | 402,073 | $0.00 | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 0 shares (Direct);
Class A Common Stock — 402,073 shares (Direct)
Footnotes (1)
- Represents restricted stock units that will vest over four years, with 1/4th vesting on June 5, 2027 and 1/16th vesting quarterly thereafter in twelve installments, on each March 5, June 5, September 5, and December 5 of each calendar year that occurs following June 5, 2027, subject to the reporting person's continued employment with the Issuer or its subsidiary through each vesting date. Represents performance-based stock options that are divided into five tranches and subject to both time-based and performance-based vesting conditions. A given tranche vests upon the later of (x) the tranche's time-based vesting date (which is April 15, 2028 for tranche 1, April 15, 2029 for tranches 2 and 3 and April 15, 2030 for tranches 4 and 5) and (y) certification of achievement of the market capitalization performance hurdle applicable to the tranche ($5.0 billion, $7.5 billion, $10.0 billion, $12.5 billion, and $17.5 billion for tranches 1,2,3,4, and 5 respectively, calculated in accordance with the reporting person's stock option agreement), in each case, subject to the reporting person's continued employment with the Issuer or its subsidiary through each vesting date.
Key Figures
Performance stock options granted: 1,000,000 options
Option exercise price: $8.21 per share
Option expiration: April 15, 2036
+5 more
8 metrics
Performance stock options granted
1,000,000 options
Grant to Silvio Napoli on April 15, 2026
Option exercise price
$8.21 per share
Employee stock option strike price
Option expiration
April 15, 2036
Employee stock option term end date
Restricted stock units granted
402,073 RSUs
Time-based award vesting over four years
Initial RSU vesting date
June 5, 2027
1/4 of RSUs vest, remaining quarterly thereafter
Market cap hurdle range
$5.0B–$17.5B
Performance hurdles for five option tranches
First tranche time-based date
April 15, 2028
Tranche 1 time-based vesting date
Final tranche time-based date
April 15, 2030
Tranches 4 and 5 time-based vesting date
Key Terms
restricted stock units, performance-based stock options, market capitalization performance hurdle, tranches, +1 more
5 terms
restricted stock units financial
"Represents restricted stock units that will vest over four years"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
performance-based stock options financial
"Represents performance-based stock options that are divided into five tranches"
market capitalization performance hurdle financial
"achievement of the market capitalization performance hurdle applicable to the tranche"
tranches financial
"stock options that are divided into five tranches and subject to both time-based"
Tranches are portions or slices of a larger financing deal—such as a loan, bond issue, or equity round—that are released at different times or under different conditions. For investors they matter because each tranche can carry different risk, interest or payout terms and may be paid only if certain targets are met; think of funding as slices of a cake handed out as progress is made.
time-based vesting financial
"subject to both time-based and performance-based vesting conditions"
Time-based vesting is a schedule that gives employees or contractors ownership of granted stock or options gradually as they remain with a company, like unlocking rewards in a loyalty program the longer you stick around. For investors, it matters because it affects future share supply, management incentives and staff retention — all of which can influence company performance and dilution of existing shareholders.
FAQ
What equity awards did Lucid Group (LCID) grant to director Silvio Napoli?
Lucid granted Silvio Napoli 1,000,000 performance-based stock options and 402,073 restricted stock units. The options allow future share purchases at $8.21, while the RSUs convert into shares over a four-year vesting schedule starting June 5, 2027, if employment continues.
How do Silvio Napoli’s new Lucid (LCID) restricted stock units vest?
Napoli’s 402,073 restricted stock units vest over four years. One-quarter vests on June 5, 2027, and the remaining three-quarters vest in twelve equal quarterly installments on March 5, June 5, September 5, and December 5 in subsequent years, subject to continued employment.
What are the terms of Silvio Napoli’s Lucid (LCID) stock options?
Napoli received 1,000,000 employee stock options with an exercise price of $8.21 per share, expiring April 15, 2036. These options relate to Class A common stock and will only vest when both time-based and performance-based conditions described in his option agreement are satisfied.
How are the performance-based stock options for Lucid (LCID) structured?
The 1,000,000 stock options are divided into five tranches, each with specific vesting dates between April 15, 2028 and April 15, 2030. Each tranche vests only after its time-based date and once Lucid’s market capitalization meets a preset hurdle, assuming Napoli remains employed.
What market capitalization hurdles apply to Silvio Napoli’s Lucid (LCID) options?
Each tranche requires Lucid to reach a market capitalization hurdle: $5.0 billion, $7.5 billion, $10.0 billion, $12.5 billion, and $17.5 billion for tranches one through five. Vesting also requires certification of achievement and Napoli’s continued employment through the relevant vesting date.