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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Rivian’s new award for CEO RJ Scaringe is a stock option—not a $5 billion cash payment. Granted November 6, 2025, it covers up to 36.5 million Class A shares at an exercise price of $15.22. Scaringe can earn shares only if the award’s stock-price or financial targets are met and he satisfies continued-service requirements. The roughly $5 billion figure is a conditional estimate reported by TechCrunch, not money already paid to him.
What Rivian awarded Scaringe
Rivian’s 2026 proxy statement says the company canceled Scaringe’s 2021 performance-based option, which covered up to 20,355,946 shares, and granted a replacement award covering up to 36,500,000 shares. That is a net increase of 16,144,054 shares underlying the options. Rivian describes the 2025 CEO Award as entirely at risk: performance milestones and continued service as CEO both matter.
The options have an exercise price of $15.22 per share, equal to Rivian Class A stock’s closing price on the grant date. An option gives its holder the right to buy shares at that price if the option is earned and exercised. Its potential payoff depends on the share price at exercise, among other conditions; the maximum share count alone does not establish what Scaringe will ultimately receive.
How Scaringe can earn the options
Stock-price targets: up to 22 million shares
Up to 22 million shares are allocated to 11 equal tranches, with stock-price hurdles ranging from $40 to $140 in $10 increments. A hurdle counts only if Rivian’s average closing price reaches the relevant level over any 120 consecutive trading days. The performance period runs through the tenth anniversary of the November 6, 2025 grant date.
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Financial targets: up to 14.5 million shares
The remaining 14.5 million shares depend on Rivian meeting adjusted operating-income and cash-flow-from-operations targets. Each category can earn up to 7.25 million shares. Their performance periods end December 31, 2032.
Continued service also affects vesting
Meeting a performance target is not the only condition. The options also vest in annual installments, subject to Scaringe continuing to serve as CEO. Rivian’s proxy describes five equal installments for most earned shares and seven for the portion tied to stock-price hurdles of $100 or more.
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Why the headline says “up to $5 billion”
TechCrunch described the award’s potential value as around $5 billion if all goals are met. That is a conditional estimate, not a grant of cash or a statement that the award has already vested. The filing’s share count, strike price, hurdles and service terms explain how the award may be earned; they do not guarantee that all targets will be reached or establish a realized payout.
Rivian also says that meeting all the stock-price hurdles would represent nearly $153 billion in incremental shareholder value compared with the company’s market capitalization at the time of grant. That is Rivian’s illustration of the award’s hurdles, not an independent forecast or a guaranteed result.
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How to read Scaringe’s 2025 compensation figure
Rivian’s 2026 proxy reports total CEO compensation of $402,639,080 for 2025. This is the compensation-table figure under SEC reporting rules, which includes accounting values for equity awards; it should not be read as cash Scaringe received or as the value realized from the new option. The proxy lists his annual base salary as $2 million as of December 31, 2025.
The proxy also reports median employee compensation of $90,316 and a CEO-to-median-employee pay ratio of 4,458.1 to 1 for 2025. Rivian cautions that SEC rules permit companies to use different methodologies and assumptions, so ratios may not be comparable from one company to another.
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Mind Robotics is a separate interest
Scaringe received 1,000,000 common units in Mind Robotics on November 6, 2025, in connection with his service as board chair. The units were fully vested, but the potential economic interest of up to 10% applies only after a specified profits-and-gains threshold. This is separate from the Rivian option award. Rivian’s proxy says Mind Robotics ceased to be its majority-owned subsidiary in March 2026.
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Sources
- Rivian Automotive, 2026 proxy statement — award terms, compensation figures and Mind Robotics disclosure.
- TechCrunch, November 7, 2025 — announcement coverage and the approximate $5 billion headline estimate.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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