Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-09

Lucid Group (LCID)

CEO Marc Winterhoff was paid $9,708,987 in fiscal year 2025, ↑ up 46.1% from fiscal year 2024, the 35th percentile of its disclosed peer group (SEC filing 0001628280-26-026842 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$12,053,092
Taoufiq Boussaid total, FY2025
Chief Financial Officer — highest-paid officer; CEO Marc Winterhoff: $9,708,987
35th
CEO (Marc Winterhoff) pay percentile vs peers
12:1
CEO-to-median pay ratio
97.93%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Marc Winterhoff (Interim Chief Executive Officer), FY2025 total compensation $9,708,987 (base salary $842,000) [exec_comp, SEC accession 0001628280-26-026842, filed 2026-04-23]

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LCID's next annual pay disclosure, estimated April 22, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Taoufiq Boussaid$508,654$2,000,000$7,917,174—$518,000$0$1,109,264$12,053,092
Chief Financial Officer
Marc Winterhoff842,00007,720,6930675,0000471,2949,708,987
Interim Chief Executive Officer
Gagan Dhingra535,288283,3343,678,3750286,000025,7684,808,765
Senior Vice President, Finance and Accounting
Eric Bach577,93003,243,0000003,0163,823,946
Former Senior Vice President, Product and Chief Engineer
Peter Rawlinson1,383,29302,058,67600031,1003,473,069
Former Chief Executive Officer and Chief Technology Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Taoufiq Boussaid$12,053,092———
Marc Winterhoff9,708,9876,645,7928,491,692↑ +3,063,195
Gagan Dhingra4,808,7654,612,9113,550,576↑ +195,854
Eric Bach3,823,94611,192,47810,439,943↓ −7,368,532
Peter Rawlinson3,473,0691,490,4906,837,215↑ +1,982,579

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against LCID
5 companies name LCID as a compensation peer

Each company listed discloses LCID in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named LCID in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Eric BachExecutive$3,823,946
Peter RawlinsonExecutive$3,473,069
Gagan DhingraSVP$4,808,765
Marc WinterhoffCEO$9,708,987
Taoufiq BoussaidCFO$12,053,092
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Taoufiq BoussaidPSU100,216—$1,059,283
Marc WinterhoffRSU35,696—377,307
Marc WinterhoffRSU100,914—1,066,661
Peter RawlinsonRSU209,014—2,209,278
Peter RawlinsonRSU67,277—711,118
Marc WinterhoffRSU61,214—647,032
Taoufiq BoussaidRSU57,627—609,117
Marc WinterhoffRSU54,166—572,535
Taoufiq BoussaidRSU50,107—529,631
Marc WinterhoffPSU50,000—528,500
Gagan DhingraRSU43,333—458,030
Gagan DhingraPSU40,000—422,800
Marc WinterhoffRSU28,751—303,898
Gagan DhingraRSU23,463—248,004
Gagan DhingraRSU23,000—243,110
Marc WinterhoffRSU17,333—183,210
Gagan DhingraRSU11,950—126,312
Gagan DhingraRSU10,175—107,550
Gagan DhingraPSU10,175—107,550
Gagan DhingraRSU5,849—61,824
Gagan DhingraRSU3,545—37,471
Gagan DhingraRSU3,384—35,769
Gagan DhingraRSU635—6,712
Gagan DhingraRSU300—3,171
Gagan DhingraRSU257—2,716
Marc WinterhoffOption35,68852.5—
Gagan DhingraOption4,01182.6—
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is designed to drive a performance-based culture, deliver on plans and commitments to stockholders, and hold executives accountable. It aligns pay with the Company's strategic imperatives and stockholders' interests, emphasizing performance-based equity awards for long-term incentives and annual cash incentives for short-term objectives.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantPay Governance
Clawback policytrue
Anti-hedging—
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-04255,952,6125,411,173251,87697.93%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-0497.93%a

a. Approved under the standard stated in the filing — “WHAT IS THE EFFECT OF ABSTENTIONS, VOTES TO WITHHOLD AND BROKER NON-VOTES? Abstentions : Under Delaware law (under which we are incorporated), abstentions are counted as shares present and entitled to vote at the Annual Meeting, but they are not counted as shares cast.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)12 : 1
CEO total compensation$1,498,241
Median employee compensation$120,394
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Douglas GrimmIndependent · Executive$22,857$321,609——$3,015$347,481
Turqi AlnowaiserNot independent · Board Chair · Nominating and Corporate Governance (Chair) · Executive (Chair)90,000245,312———335,312
Janet S. WongIndependent · Audit (Chair) · Not standing for re-election50,000248,741——27,631326,372
Andrew LiverisIndependent · Compensation and Human Capital (Chair) · Executive55,000241,883——19,220316,103
Lisa M. LambertIndependent · Audit40,000248,741——20,298309,039
Nichelle Maynard-ElliottIndependent · Compensation and Human Capital · Nominating and Corporate Governance · Audit52,500231,574——19,220303,294
Ori WinitzerIndependent · Compensation and Human Capital · Executive46,306231,574——17,317295,197
Chabi NouriIndependent · Nominating and Corporate Governance36,194231,574———267,768
Silvio NapoliIndependent · Executive——————
09

Board fee structure and ownership guideline

Annual cash retainer—
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guidelineNon-Employee Director 5x Annual Board Cash Retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$392,857
Equity awards (grant-date value)$2,001,008
All other compensation$106,701
Total cost of the board$2,500,566

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Lucid Group names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Lucid Group.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Tesla, Inc.2025Elon Musk—$158,359,009,867$0$0$158,359,009,867
2Rivian Automotive, Inc.2025Robert Scaringe1,115,38526,640,700373,461,5701,015,001402,639,080
3Cloudflare, Inc.2025Matthew Prince537,50058,251,1010060,551,052
4General Motors Company2025Mary Barra2,100,00021,623,97004,956,00029,895,868
5Ford Motor Company2025James Farley Jr.1,700,00018,868,30905,746,00027,519,558
6Snowflake Inc.2026Sridhar Ramaswamy750,00020,787,4610772,40722,310,492
7Aptiv PLC2025Kevin Clark1,462,27215,145,16002,303,07819,250,277
8Mobileye Global Inc.2025Amnon Shashua837,88315,020,6870016,636,439
9Lucid Group2025Marc Winterhoff842,0007,720,6930675,0009,708,987
10Harley-Davidson, Inc.2025Artie Starrs304,0006,125,019——8,591,990
11Carvana Co.2025Ernest C. Garcia, III961,6747,419,121008,382,555
12QuantumScape Corporation2025Siva Sivaram821,5387,547,987008,377,033
13Joby Aviation, Inc.2025JoeBen Bevirt657,4333,045,189003,706,622
14Lyft, Inc.2025David Risher725,000001,871,6252,824,088
15Aurora Innovation, Inc.2025Chris Urmson479,167168,0810231,800879,048
16Zscaler, Inc.2025Jay Chaudhry23,66000029,753
—Magna International Inc.——————not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Lucid Groupnot disclosednot disclosednot disclosedPay Governance
Aptiv PLC105%PSU 60 · RSU 40Nonot disclosed
Aurora Innovation, Inc.not disclosednot disclosednot disclosedSemler Brossy Consulting Group, LLC
Carvana Co.not disclosedRSU 100not disclosedKorn Ferry
Cloudflare, Inc.not disclosednot disclosedNoCompensia
Ford Motor Company130%PSU 60 · RSU 40Yes — rTSR (relative Total Shareholder Return)Not explicitly named in CD&A
General Motors Companynot disclosednot disclosedYes — Relative TSRnot disclosed
Harley-Davidson, Inc.7.5%PSU 50 · RSU 50NoSemler Brossy Consulting Group
Joby Aviation, Inc.64.5%not disclosedNoCompensia, Inc.
Lyft, Inc.108.5%PSU 50 · RSU 50NoPay Governance
Magna International Inc.not disclosednot disclosednot disclosednot disclosed
Mobileye Global Inc.not disclosedRSU 100not disclosedCompensation Advisory Partners
QuantumScape Corporation100%PSU 70 · RSU 30NoCompensia
Rivian Automotive, Inc.not disclosedRSU 50 · Options 50NoSemler Brossy
Snowflake Inc.103.0%PSU 70 · RSU 30NoCompensia
Tesla, Inc.not disclosedPSU 100NoCompensia, Inc.
Zscaler, Inc.100.9%not disclosedNoCompensia

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Lucid Group in fiscal 2025?
As disclosed, Taoufiq Boussaid (Chief Financial Officer) was the highest-paid executive at Lucid Group in fiscal 2025, with total compensation of $12,053,092.
How does Lucid Group's chief executive pay compare to its disclosed peer group?
As disclosed, Marc Winterhoff's total compensation ranked at the 35th percentile of Lucid Group's disclosed peer group.
What is Lucid Group's CEO-to-median employee pay ratio?
As disclosed, Lucid Group's CEO-to-median employee pay ratio was 12:1.
How did shareholders vote on Lucid Group's executive compensation?
As disclosed, 97.93% of shareholders supported Lucid Group's executive compensation in the latest say-on-pay vote.
How much does Lucid Group spend in total on board compensation for fiscal 2025?
As disclosed, Lucid Group reported total board compensation of $2,500,566 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Taoufiq BoussaidDEF 14A2026-04-230001628280-26-026842Section “2025 Summary Compensation Table” · page 63. As printed: 12,053,092. View filing ↗
2Section 01, Marc WinterhoffDEF 14A2026-04-230001628280-26-026842Section “2025 Summary Compensation Table” · page 63. As printed: 9,708,987. View filing ↗
3Section 01, Gagan DhingraDEF 14A2026-04-230001628280-26-026842Section “2025 Summary Compensation Table” · page 63. As printed: 4,808,765. View filing ↗
4Section 01, Eric BachDEF 14A2026-04-230001628280-26-026842Section “2025 Summary Compensation Table” · page 63. As printed: 3,823,946. View filing ↗
5Section 01, Peter RawlinsonDEF 14A2026-04-230001628280-26-026842Section “2025 Summary Compensation Table” · page 63. As printed: 3,473,069. View filing ↗
6Section 07, pay ratioDEF 14A2025-04-240001104659-25-038701Section “CEO Pay Ratio”. As printed: 12 : 1. View filing ↗
7Section 08, Douglas GrimmDEF 14A2026-04-230001628280-26-026842Section “Director Compensation”. As printed: 347,481. View filing ↗
8Section 08, Turqi AlnowaiserDEF 14A2026-04-230001628280-26-026842Section “Director Compensation”. As printed: 335,312. View filing ↗
9Section 08, Janet S. WongDEF 14A2026-04-230001628280-26-026842Section “Director Compensation”. As printed: 326,372. View filing ↗
10Section 08, Andrew LiverisDEF 14A2026-04-230001628280-26-026842Section “Director Compensation”. As printed: 316,103. View filing ↗
11Section 08, Lisa M. LambertDEF 14A2026-04-230001628280-26-026842Section “Director Compensation”. As printed: 309,039. View filing ↗
12Section 08, Nichelle Maynard-ElliottDEF 14A2026-04-230001628280-26-026842Section “Director Compensation”. As printed: 303,294. View filing ↗
13Section 08, Ori WinitzerDEF 14A2026-04-230001628280-26-026842Section “Director Compensation”. As printed: 295,197. View filing ↗
14Section 08, Chabi NouriDEF 14A2026-04-230001628280-26-026842Section “Director Compensation”. As printed: 267,768. View filing ↗
15Section 08, Silvio NapoliDEF 14A2026-04-230001628280-26-026842Section “Director Compensation”. As printed: —. View filing ↗
16Section 06, 2026 voteForm 8-K2026-06-050001628280-26-041205Item 5.07 · say-on-pay result. As reported: 97.93% (votes for as printed: 255,952,612). View filing ↗
17Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.
18Section 09b board cost (computed)Computed——Cash 392,857 + equity 2,001,008 + all other 106,701 = 2,500,566, summed across the director compensation table rows.
19Tesla, Inc., Section 10b CEO totalDEF 14A2026-04-300001104659-26-053166CEO total compensation as printed in Tesla, Inc.'s own proxy. As printed: 158,359,009,867. View filing ↗
20Rivian Automotive, Inc., Section 10b CEO totalDEF 14A2026-04-270001874178-26-000023CEO total compensation as printed in Rivian Automotive, Inc.'s own proxy. As printed: 402,639,080. View filing ↗
21Cloudflare, Inc., Section 10b CEO totalDEF 14A2026-06-090001193125-26-263809CEO total compensation as printed in Cloudflare, Inc.'s own proxy. As printed: 60,551,052. View filing ↗
22General Motors Company, Section 10b CEO totalDEF 14A2026-04-200001467858-26-000022CEO total compensation as printed in General Motors Company's own proxy. As printed: 29,895,868. View filing ↗
23Ford Motor Company, Section 10b CEO totalDEF 14A2026-03-270001552781-26-000164CEO total compensation as printed in Ford Motor Company's own proxy. As printed: 27,519,558. View filing ↗
24Snowflake Inc., Section 10b CEO totalDEF 14A2026-05-180001640147-26-000019CEO total compensation as printed in Snowflake Inc.'s own proxy. As printed: 22,310,492. View filing ↗
25Aptiv PLC, Section 10b CEO totalDEF 14A2026-03-160001193125-26-108328CEO total compensation as printed in Aptiv PLC's own proxy. As printed: 19,250,277. View filing ↗
26Mobileye Global Inc., Section 10b CEO totalDEF 14A2026-04-240001104659-26-048118CEO total compensation as printed in Mobileye Global Inc.'s own proxy. As printed: 16,636,439. View filing ↗
27Lucid Group (subject), Section 10b CEO totalDEF 14A2026-04-230001628280-26-026842CEO total compensation as printed in Lucid Group's own proxy. As printed: 9,708,987. View filing ↗
28Harley-Davidson, Inc., Section 10b CEO totalDEF 14A2026-04-090000793952-26-000022CEO total compensation as printed in Harley-Davidson, Inc.'s own proxy. As printed: 8,591,990. View filing ↗
29Carvana Co., Section 10b CEO totalDEF 14A2026-03-250001690820-26-000024CEO total compensation as printed in Carvana Co.'s own proxy. As printed: 8,382,555. View filing ↗
30QuantumScape Corporation, Section 10b CEO totalDEF 14A2026-04-230001193125-26-173828CEO total compensation as printed in QuantumScape Corporation's own proxy. As printed: 8,377,033. View filing ↗
31Joby Aviation, Inc., Section 10b CEO totalDEF 14A2026-04-210001819848-26-000313CEO total compensation as printed in Joby Aviation, Inc.'s own proxy. As printed: 3,706,622. View filing ↗
32Lyft, Inc., Section 10b CEO totalDEF 14A2026-04-100001628280-26-024680CEO total compensation as printed in Lyft, Inc.'s own proxy. As printed: 2,824,088. View filing ↗
33Aurora Innovation, Inc., Section 10b CEO totalDEF 14A2026-04-020001828108-26-000044CEO total compensation as printed in Aurora Innovation, Inc.'s own proxy. As printed: 879,048. View filing ↗
34Zscaler, Inc., Section 10b CEO totalDEF 14A2025-11-210001713683-25-000198CEO total compensation as printed in Zscaler, Inc.'s own proxy. As printed: 29,753. View filing ↗
35Section 10a, Harley-Davidson, Inc. reciprocityDEF 14A—0000793952-26-000022Harley-Davidson, Inc.'s most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
36Section 10a, Carvana Co. reciprocityDEF 14A—0001690820-26-000024Carvana Co.'s most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
37Section 10a, Rivian Automotive, Inc. reciprocityDEF 14A—0001874178-26-000023Rivian Automotive, Inc. names Lucid Group in its own disclosed peer group (read from its most recent proxy). View filing ↗
38Section 10a, Ford Motor Company reciprocityDEF 14A—0001552781-26-000164Ford Motor Company's most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
39Section 10a, Aptiv PLC reciprocityDEF 14A—0001193125-26-108328Aptiv PLC's most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
40Section 10a, Cloudflare, Inc. reciprocityDEF 14A—0001193125-26-263809Cloudflare, Inc.'s most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
41Section 10a, Mobileye Global Inc. reciprocityDEF 14A—0001104659-26-048118Mobileye Global Inc.'s most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
42Section 10a, Lyft, Inc. reciprocityDEF 14A—0001628280-26-024680Lyft, Inc.'s most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
43Section 10a, Joby Aviation, Inc. reciprocityDEF 14A—0001819848-26-000313Joby Aviation, Inc. names Lucid Group in its own disclosed peer group (read from its most recent proxy). View filing ↗
44Section 10a, Zscaler, Inc. reciprocityDEF 14A—0001713683-25-000198Zscaler, Inc.'s most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
45Section 10a, General Motors Company reciprocityDEF 14A—0001467858-26-000022General Motors Company's most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
46Section 10a, Snowflake Inc. reciprocityDEF 14A—0001640147-26-000019Snowflake Inc.'s most recent proxy was read; its disclosed peer group does not include Lucid Group. View filing ↗
47Section 10a, QuantumScape Corporation reciprocityDEF 14A—0001193125-26-173828QuantumScape Corporation names Lucid Group in its own disclosed peer group (read from its most recent proxy). View filing ↗