Employees at Lucid are granted Restricted Stock Units (RSUs). A Restricted Stock Unit is an agreement by Lucid to issue you shares of Lucid stock once you have satisfied the vesting requirements and any tax withholding requirements.
When your RSUs vest, you will receive shares of Lucid Stock. You meet the vesting schedule by continuing employment while your shares vest over time. Your vesting schedule will vary based on your role. Please refer to your grant agreement for the details of your vesting schedule or reach out to our team via HR HelpDesk if you would like the specifics of your vesting schedule.
Lucid also has an annual performance review cycle in which RSUs may be granted to talent. These awards made a part of the performance review cycle immediately begin vesting on the next quarterly company vesting date. For example, if you are issued a performance-based award in May 2023, your award will vest beginning on June 5, 2023 and quarterly thereafter.
With RSUs there is no purchase price as they are automatically converted to shares of Lucid stock at no cost to acquire the shares. RSUs are typically taxable in most countries, and Lucid, where required, will sell some of the shares from your vesting to pay for the required tax withholding.
The Equity Awards Committee (EAC) reviews all stock recommendations for approval and decisions are made around every two – three weeks. Once the EAC approves an equity award, you will receive a new award notice from our equity compensation management system, Shareworks. You may then login via our internal interface, Okta, to view your RSU and accept your award agreement.
Your Restricted Stock Units Value & Grant
The number of RSUs granted will be determined using the Company’s standard conversion methodology which is why the value in your offer letter may differ from the value in your grant agreement.
Tax Implications on RSUs
When it comes to taxes, RSUs differ by country. If you would like to see more detailed information around taxes on the RSUs, please follow the directions below:
- Login to Shareworks via Okta (lucid.okta.com)
- Click on the “Documents” tab at the top
- On that page, under “Guides and General Reference” click on the link “Restricted Stock Units related tax (US and International)”
More Information & Resources
To access Restricted Stock Units presentations by country, please visit our RSU presentations folder and locate your country of choice.
Should you have any questions about your RSUs, please reach out to our team via HR HelpDesk to request a meeting with our team or to ask any general questions.