Written by Cláudio Afonso | LinkedIn | X
Electric vehicle maker Rivian has disclosed in a Form 144 filing with the Securities and Exchange Commission (SEC) on late Wednesday that its CEO RJ Scaringe has sold 71,429 shares of common stock. The sale, which occurred on June 10, was valued at approximately $820,883.50.
The shares were sold through Morgan Stanley Smith Barney LLC and was part of a stock option exercise, according to the filing.
The Form 144 filing specifies that Scaringe had no knowledge of any material adverse information regarding Rivian’s current and prospective operations that had not been publicly disclosed at the time of the sale.
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“The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date,” the company stated.
Claire McDonough, the CFO from the electric vehicle maker Rivian, teased on Tuesday that the company is in discussions with potential clients to use their electric commercial vans.
Over the last few months, images appeared on social media of several vehicles branded by DHL fueling speculation about a forthcoming collaboration between the electric vehicle manufacturer and the global logistics giant.
The electric vehicle manufacturer, known for its light and commercial EVs, is targeting production of 57,000 units this year. Rivian recently unveiled its second-generation R1 models, which incorporate new technology and features designed to lower production costs and improve manufacturing efficiency.
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The chief executive RJ Scaringe has shared that the company was able to reduce the components in the battery pack from 41 to 16.
Rivian’s R2 and R3 vehicles are slated for launch in early 2026. The R2, with a starting price of $45,000, shares much of its electronic architecture with the new R1s, allowing for streamlined production and reduced costs. The company aims to make these models globally accessible, expanding its market reach beyond North America.
Rivian Automotive has successfully cleared its inventory of the 2023 and 2024 R1T and R1S models following significant discounts announced in April and May, videos shared on social media show.
Over the last few days, Rivian‘s Vice President of Software Wassym Bensaid took to Reddit to address questions and provide updates on the company’s Gen 1 vehicles, assuring owners that their cars will continue to receive significant improvements through over-the-air (OTA) updates, even as Gen 2 models boast enhanced features.
Written by Cláudio Afonso | LinkedIn | X
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