Business Context and Reporting Period
This Form 8-K Current Report was filed by Lucid Group, Inc. on January 20, 2026. The filing addresses Item 5.02 regarding compensatory arrangements for certain officers. The report was signed on January 23, 2026, by Marc Winterhoff, Interim Chief Executive Officer.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation adjustments.
Material Changes
The Board's Compensation and Human Capital Committee approved amendments to the employment agreement of Taoufiq Boussaid, Chief Financial Officer. The material changes include:
- Housing Subsidy: Extended from six months to twelve months.
- Annual Stipend: Increased from $100,000 to $200,000 per year to reflect updated costs for the French retirement system.
- Repatriation and Support Benefits: Approved repatriation benefits and two years of tax and immigration support for Mr. Boussaid as a French national. These benefits are capped at a total of $275,000 and are payable only upon Involuntary Termination Without Cause.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, operational outlook, or discussion of general business risks. Management commentary is limited to the rationale for the compensation adjustments, stating they were made as additional circumstances and information became known during Mr. Boussaid's employment and are consistent with the original intent of his offer letter.
Investor Verification Checklist
- Verify the total potential liability of the new severance-related benefits (capped at $275,000) against the company's current cash position.
- Review the attached Exhibit 10.1 (Offer Letter Amendment) for specific definitions of "Involuntary Termination Without Cause."
- Confirm the impact of the increased annual stipend ($100,000 increase) on the company's quarterly operating expenses.
- Check for any related disclosures in the most recent Form 10-K regarding executive compensation policies.