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Get filing alertsLucid shareholders approve 23.5M share increase to equity compensation plan
Filed June 5, 2026 · Period ending June 4, 2026 · ~1 min read
Key Changes
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Stockholders approved expanding the 2021 equity plan by 23.5 million Class A common shares, effective immediately. This increases management's ability to grant stock options and restricted stock to employees and executives.
Item 5.07 verify on EDGAR → -
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All nine director nominees were re-elected to serve until the 2027 annual meeting, with votes ranging from 255M to 260M in favor and minimal opposition.
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KPMG LLP was ratified as independent auditor for fiscal 2026 with 301M votes for versus 1.9M against.
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As of the April 6 record date, 330.1M common shares plus preferred shares convertible into 53.1M common shares were outstanding and entitled to vote.
Item 5.07 verify on EDGAR →
Summary
Lucid Group held its 2026 Annual Meeting on June 4, where shareholders approved a significant expansion of the company's equity compensation program. The amended 2021 Stock Incentive Plan adds 23.5 million Class A common shares to the pool available for employee grants, giving management more flexibility to attract and retain talent through stock-based compensation.
This represents potential dilution for existing shareholders, though equity compensation is standard practice for growth-stage companies competing for engineering and executive talent. The meeting was otherwise routine, with all director nominees re-elected and the independent auditor ratified by wide margins.
The equity plan expansion was the only materially contested item, passing with 254 million votes for versus 7.4 million against. Retail investors should monitor how aggressively management uses this expanded share pool in upcoming quarters, particularly whether grants accelerate as the company scales production. Watch for details on equity compensation in the next proxy statement or 10-Q filing to assess the pace of dilution.
Section-by-Section Diff
Event · Item 5.07 — Submission of Matters to a Vote of Security Holders
Lucid held its 2026 Annual Meeting, electing nine directors and approving auditor ratification, executive compensation, and stock plan amendment.
Added in current filing · verify on EDGAR → · paraphrased
The amendment and restatement of the Lucid Group, Inc. Amended and Restated 2021 Stock Incentive Plan was approved, based on the following results of voting: Votes For 253,997,107 Votes Against 7,435,259 Abstentions 183,295 Broker Non-Votes 42,419,586
Shareholders approved the amendment and restatement of the 2021 Stock Incentive Plan with approximately 254 million votes for and 7.4 million against. This allows the company to continue granting equity compensation under the updated plan terms.
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Added in current filing · verify on EDGAR →
The following nine nominees were elected to serve as directors until the Company’s 2027 Annual Meeting of Stockholders and until their successors are duly elected and qualified, subject to earlier resignation or removal
Nine directors were elected: Turqi Alnowaiser, Douglas Grimm, Sachin Kansal, Lisa M. Lambert, Andrew Liveris, Nichelle Maynard-Elliott, Silvio Napoli, Chabi Nouri, and Ori Winitzer. All received between 255 million and 260 million votes in favor, with minimal withheld votes and approximately 42 million broker non-votes.
Event · Item 9.01 — Financial Statements and Exhibits
Lucid filed an 8-K to incorporate by reference its Amended and Restated 2021 Stock Incentive Plan from its April 2026 proxy statement.
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Added in current filing · verify on EDGAR →
Lucid Group, Inc. Amended and Restated 2021 Stock Incentive Plan (including the Lucid Group, Inc. Amended and Restated 2021 Employee Stock Purchase Plan, attached thereto) (previously filed as Annex A to the Registrant’s Definitive Proxy Statement on Schedule 14A filed with the Commission on April 23, 2026 and incorporated herein by reference).
Lucid disclosed that it has amended and restated its 2021 Stock Incentive Plan, which includes an employee stock purchase plan component. The amended plan was previously filed as part of the company's proxy statement in April 2026 and is now being formally incorporated into this 8-K filing. This is a procedural disclosure following shareholder approval of equity compensation plan changes.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 5, 2026 · How we verify