Napoli Silvio 4

What Happened Silvio Napoli, a director of Lucid Group, Inc. (LCID), received two compensation awards on April 15, 2026: 402,073 restricted stock units (RSUs) and 1,000,000 performance-based stock options. Both grants were reported at $0.00 per share (awards, not open‑market purchases or sales), so no cash changed hands at grant.

Key Details

• Transaction date: April 15, 2026. Transaction code: A (award/grant).
• RSUs: 402,073 shares @ $0.00. See footnote F1 for vesting schedule.
• Options (derivative): 1,000,000 performance-based stock options @ $0.00. See footnote F2 for tranche, time and performance vesting details.
• Shares owned after transaction: Not specified in the filing.
• Filing date: April 17, 2026 — filed timely (within the usual 2-business-day Form 4 window).
• Notes: The 1,000,000 award is a derivative (options) with performance and time vesting; these are grants, not exercises or sales.

Context

• F1 (RSUs): Vest over four years — 1/4 vests June 5, 2027, then 1/16th vests quarterly on Mar/Jun/Sep/Dec 5 thereafter, subject to continued service through each vesting date.
• F2 (Options): Divided into five tranches with time-based vesting (April 15, 2028–2030 depending on tranche) and market-cap performance hurdles ($5.0B, $7.5B, $10.0B, $12.5B, $17.5B). A tranche vests only after both the time date and certification of the applicable market-cap hurdle, and subject to continued employment.
• These awards are company compensation (common for directors) and do not represent an immediate purchase or sale; performance-based options will only convert to exercisable rights if time and performance conditions are met.