Lucid CEO Rawlinson sells $160 mln shares

Lucid CEO Peter Rawlinson is selling 8K shares worth $160 million as he previously planned; Torquenews reported citing sources familiar with the matter.

They added that this decision was planned previously as Rawlinson seeks paying due taxes.

The sources say that the sale is not getting away from Lucid, but it’s to satisfy tax obligations as a result of the vesting of Restricted Stock Units (RSUs)

RSUs are stocks given to an employee by a company with ownership being transferred upon completion of a predetermined goal, or in this case, on a time-based schedule.