UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On November 16, 2023, Lucid Group, Inc. (the “Company”) unveiled the Lucid Gravity, a luxury sport utility vehicle, to the public at the Los Angeles Auto Show, which marked a significant technical and design milestone achievement for the Company. In connection with this announcement, on January 24, 2024, the Compensation and Human Capital Committee of the Board of Directors of the Company approved payment of a discretionary cash bonus to Eric Bach (Senior Vice President, Product and Chief Engineer) in the amount of $1,000,000 in recognition of his significant contributions to this milestone achievement.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: January 26, 2024 | ||
| Lucid Group, Inc. | ||
| By: | /s/ Gagan Dhingra | |
| Gagan Dhingra | ||
| Interim Chief Financial Officer | ||