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After Tesla CEO Elon Musk secured shareholder approval for a compensation package valued in the trillions, U.S.-based electric vehicle manufacturer Rivian revealed on Friday that it has crafted a compensation plan worth up to $4.6 billion for its CEO and founder, RJ Scaringe. This plan closely aligns rewards with Rivian's profitability and stock price trajectory over the next ten years. Scaringe will be granted options for up to 36.5 million Class A common shares, each with an exercise price of $15.22—roughly 16 million shares more than his previous awards. These options will vest incrementally over the next decade, contingent on the stock price hitting various targets between $40 and $140 per share. Furthermore, Rivian has set new performance benchmarks, including operating income and cash flow, which must be met over the next seven years.
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