Rivian approves CEO performance based pay package | JQJO

Rivian scrapped CEO RJ Scaringe’s 2021 pay plan and approved a performance-heavy package, lifting salary to $2 million and granting options for up to 36.5 million shares, an SEC filing shows. Worth up to $4.6 billion if the stock hits $140 (vs $15.23 Friday), the award vests in price, profit, and cash-flow tranches through 2032, with a first hurdle at $40. The move comes as Rivian posted 78% Q3 revenue growth alongside a $1.1 billion loss, October layoffs, and the coming R2 SUV launch.