Silvio Napoli, Chief Executive Officer and Director of Lucid Group, Inc., filed a Form 4 on November 9, 2026, disclosing the acquisition of 603,110 performance-based restricted stock units granted on November 5, 2026.

Key Highlights

  • Grant date: The performance restricted stock units were acquired on November 5, 2026, with an expiration date of November 5, 2030.
  • Unit count: Napoli received 603,110 performance restricted stock units, each representing one share of Class A Common Stock, at a price of $0.
  • Four tranches: The award is divided into four tranches, with time-based vesting no sooner than November 5, 2028 for tranches 1 and 2, and no sooner than November 5, 2029 for tranches 3 and 4.
  • Market capitalization hurdles: Each tranche also requires certification of a market capitalization performance hurdle of $3.5 billion, $5.0 billion, $6.5 billion, and $8.0 billion, respectively.
  • Post-transaction ownership: Following the grant, Napoli beneficially owns 603,110 performance restricted stock units directly.
  • Continued employment required: Vesting in each tranche is subject to Napoli's continued employment with the issuer or its subsidiary through each applicable vesting date.

Details of Silvio Napoli's Performance RSU Award at Lucid Group

According to the filing, Silvio Napoli, who serves as both Chief Executive Officer and Director of Lucid Group, Inc. (NASDAQ:LCID), was granted 603,110 performance-based restricted stock units on November 5, 2026. The units are classified as derivative securities with an underlying security of Class A Common Stock, and the grant price is reported as $0. The filing was signed by Bruce Wang as attorney-in-fact for Silvio Napoli on November 9, 2026.

As described in the filing's explanation of responses, the award is divided into four tranches subject to both time-based and performance-based vesting conditions. For tranches 1 and 2, the time-based vesting date is no sooner than November 5, 2028; for tranches 3 and 4, it is no sooner than November 5, 2029. Each tranche vests upon the later of its time-based vesting date and the certification of achievement of a specified market capitalization hurdle: $3.5 billion for tranche 1, $5.0 billion for tranche 2, $6.5 billion for tranche 3, and $8.0 billion for tranche 4, each calculated in accordance with the reporting person's performance stock unit agreement.

The filing further notes that vesting in each tranche is "subject to the reporting person's continued employment with the Issuer or its subsidiary through each vesting date." The transaction code for the award is listed as "A" (acquired), and all 603,110 units are held directly by Napoli.

What Was Disclosed

Lucid Group CEO Silvio Napoli disclosed the acquisition of 603,110 performance restricted stock units on November 5, 2026, structured across four tranches with both time-based vesting requirements and market capitalization performance hurdles ranging from $3.5 billion to $8.0 billion.