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Rivian Automotive (RIVN), the electric vehicle (EV) manufacturer best known for producing Amazon's (AMZN) delivery vans, has drawn significant scrutiny and intrigue with its decision to award CEO RJ Scaringe a potential $4.6 billion pay package over the next decade. The package is tied entirely to performance, mirroring in spirit the incentive structure that once propelled Elon Musk at Tesla (TSLA), though on a smaller scale.
Under this plan, Scaringe will have the opportunity to purchase up to 36.5 million RIVN shares at $15.22 per share. The stock options will vest over ten years and are contingent on the company meeting a series of milestones in terms of share price, ranging from $40 to $140, and financial targets, including operating income and cash flow over a seven-year horizon.
