Lucid Motors has been steadily gaining traction in america market because the first deliveries within the fall of 2021. The model at present provides one automobile mannequin, a big luxurious sedan known as the Air. The Silicon Valley-based automaker not too long ago reduce its costs to assist make its entry extra aggressive. The Air at present begins at $82,400 and ranges as much as $249,000 in hypercar-defeating Sapphire guise.

Lucid’s CEO, Peter Rawlinson, has been on the helm of the startup since leaving his function as VP of engineering at Tesla. Rawlinson initially served because the agency’s CTO in 2013 and have become CEO in 2019. In early 2021 and beneath Rawlinson’s lead, Lucid merged with Churchill Capital Corp IV (CCIV) to enter the NASDAQ as a SPAC.

In March 2021, Lucid’s Board allowed Rawlinson to obtain 13.8 million time-based inventory items and 16 million performance-based ones that may vest over 4 years. The vesting interval would start in the direction of the tip of 2021, that means that Rawlinson would start to see them in his 2022 wage.

In a report performed by Automotive Information and Equilar, Rawlinson’s complete compensation amounted to a jaw-dropping $379,029,183 in 2022. This determine included a comparatively measly base wage of $575,000 plus $5,504,378 in inventory possibility beneficial properties and $372,928,375 in inventory award beneficial properties. One other $21,430 was listed as different earnings.

For reference, GM’s Mary Barra ended 2022 with a complete compensation of $34,106,824. Furthermore, the CEO of Ford, Jim Farley, secured a $18,340,695 complete compensation. This led to criticism from Elon Musk who Tweeted, “Beware any firm the place management compensation just isn’t linked to efficiency.”

Regardless of Musk’s feedback, Rawlinson’s inventory choices had been truly based mostly partly on efficiency and in addition time. Nevertheless, these feedback should not detract from Lucid’s CEO wage being astronomically excessive. He made a respective 11 and 21 instances higher complete compensation than Barra or Farley’s. Nonetheless, Rawlinson just isn’t new to giant incomes. The CEO obtained a complete compensation of $263 million in 2021.