Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsRivian dilution means that each existing share represents a smaller percentage of the company when Rivian issues additional shares. As of June 30, 2026, Rivian reported 1.358 billion Class A shares and about 4 million Class B shares outstanding. It also completed or announced several 2026 issuances, including shares sold to Volkswagen and Uber and a public offering. Those transactions spread ownership across more shares, but they do not automatically determine your investment’s dollar value or the stock’s future price. The outcome depends on the cash or strategic value Rivian receives, how investors value that capital, and whether future potential shares are issued.
What dilution changes for an existing Rivian shareholder
Ownership percentage is the clearest effect. Your percentage ownership equals your shares divided by the company’s total outstanding shares. If you keep 1,000 shares while the denominator grows, your percentage falls even though your share count does not change.
As an Amazon Associate I earn from qualifying purchases.
For example, if a company has 1 billion shares and you own 1,000, your stake is 0.0001%. If it issues another 100 million shares and you still own 1,000, your stake becomes about 0.000091%. That is a 9.1% reduction in your ownership percentage. The example illustrates the arithmetic; it is not a forecast of Rivian’s future capitalization.
That percentage change is separate from investment value. A company generally receives cash, assets, services or strategic commitments when it issues shares. If those proceeds improve production, technology, liquidity or future earnings enough to increase the company’s total value, the value of each share could hold up or rise despite the larger share count. If the proceeds do not create comparable value, per-share value can suffer.
#1 Best Overall
- Compact & Portable Design: This Small Excel, Word, PowerPoint, & Windows Cheat Sheet Mouse Pad measures 11.8" x 9.8", offering a portable mouse pad. Its compact size fits in bags or laptop cases, suitable for professionals, students, or travelers.
- Multi-Software Shortcut Guide: Featuring essential shortcut keys for Excel, Word, PowerPoint, & Windows, this small mouse pad provides a quick reference for frequently used shortcuts, offering a reference designed to support workflow efficiency
- Smooth & Precise Surface: The finely-textured surface ensures precise mouse control, allowing for smooth and accurate movement during work or gaming sessions.
- Durable & Non-Slip Design: This Multi-Software Shortcut Mouse Pad features stitched edges to reduce fraying. The non-slip rubber base helps keep it securely in place, and the water-resistant fabric allows for easier maintenance.
- Clear Print Quality: Displays high-resolution printing intended to remain legible through regular use and cleaning
Market price is a separate question again. Rivian’s 2025 Form 10-K warns that issuing additional common stock can dilute existing owners and may depress the Class A stock price. The filing describes a risk, not a guaranteed percentage decline after every issuance.
Rivian’s reported share count and dual-class structure
Rivian has Class A and Class B common stock. Its second-quarter 2026 filing says the classes are identical except for voting and conversion rights. Class B shares are convertible one-for-one into Class A shares.
| Measure | Reported amount | Date and qualification |
|---|---|---|
| Class A shares outstanding | 1.358 billion | June 30, 2026 period-end count |
| Class B shares outstanding | About 4 million | June 30, 2026 period-end count |
| Class A shares outstanding at December 31, 2025 | 1.236 billion | Prior year-end count; Class B is not included in this comparison |
The Class A increase from 1.236 billion at December 31, 2025 to 1.358 billion at June 30, 2026 reflects shares issued during the period and other capitalization changes reported by Rivian. It is a historical comparison, not a live October 2026 share count. Shares sold in July 2026 also occurred after the June 30 balance-sheet date.
Quick wins for a faster PC:
Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Clear out junk files and repair common Windows errorsFree Scan →Class conversion changes which class a share belongs to, not the number of shares on a one-for-one basis. Rivian’s filing describes automatic Class B conversion provisions, including a provision tied to the fifth anniversary of its November 2021 initial public offering in November 2026, subject to the other stated triggers. A conversion can therefore affect voting composition without creating the same kind of economic dilution as a new share issuance.
Completed and announced 2026 issuances
The transactions below show why dilution analysis must consider both sides of an issuance: existing owners receive a smaller slice, while Rivian receives consideration that may have business value.
Rank #2
- [MULTIFUNCTIONAL]You'll get 2 pieces computer monitor memo boards that you can stick on the left and right edges of your monitor, and they're the perfect office desk organizers and accessories. Computer monitor side panels desktop organizer are suitable for home work or office,bringing convenience. Desktop memo is used to organize meeting memos, important messages, business cards, planning notes.Paste on the message board to keep track of important things and to-do items to prevent forgetting.
- [🌟HIGHLY QUALITY] The material of computer screen side note holder is transparent acrylic. Durable, simple, stylish, light weight, easy to use, not easy to fall off or break. This cute office supplies for women desk can be used for a long time. This computer desk accessories is waterproof and dirt resistance, and look simple and stylish. The transparent acrylic sticky note holder as cubicle accessories is easy to notice the context of your sticky notes.
- [📋Easy to use] Office must haves cool office gadgets for desk ready to tear, easy to install and remove, not easy to leave traces. You only need to peel off the protective film on the surface of the computer side board memo, wipe off the dust on the edge of the computer monitor, and then stick the desk essentials for women office on the right or left side of the tape, and you're done. A perfect gift for your colleagues, friends or classmates and family members or relatives
- [🏢MULTI-SCENE USE] This desk supplies computer memo board can be applied to home and office, clear your office decor for women, suitable for most computer monitors, screens and cabinets, you can put it where you think, this cute office decor serve as a reminder. Stick on the computer side. It’s a good office gadgets can remind work improve office productivity. Pasted cabinets, dressers, refrigerators, walls, etc as cubicle accessories. To make life more orderly.
- [💌NOTE] The adhesive force of the computer sticky note holder is very strong. It can not be directly pasted on the computer screen. It should pasted on the black edge of the screen. Narrow edge not recommended!!! If you are not satisfied with your purchase, or if the product is damaged or broken in transit, please let us know immediately. We will promptly solve your problem.
| Transaction | Shares | Consideration and pricing | Timing and status |
|---|---|---|---|
| Volkswagen strategic issuance | Approximately 63 million Class A shares | $1.0 billion; Rivian reported a price calculated from a 30-trading-day VWAP of $15.90 per share | Issued in April 2026 after testing milestones |
| Uber strategic vehicle collaboration | Approximately 20 million Class A shares | $300 million; agreement calculation produced $15.34 per share | Issued in May 2026 |
| Public offering | 75 million Class A shares, plus 11.25 million shares from the exercised underwriter option | $15.50 per share; approximately $1.317 billion in reported net proceeds | Sold in July 2026, after the June 30 period-end |
Volkswagen shares
Rivian issued approximately 63 million Class A shares to Volkswagen in April 2026 after specified testing milestones. Rivian reported receiving $1.0 billion and described the price as based on the 30-trading-day VWAP, or $15.90 per share. Existing holders own a smaller percentage after those shares were issued. The potential benefit is the capital and the strategic relationship; whether those benefits outweigh the ownership reduction depends on execution and market expectations.
Uber shares
In May 2026, Rivian received $300 million from Uber for approximately 20 million Class A shares. The agreement’s 30-consecutive-trading-day calculation produced $15.34 per share. The related arrangements cover development, deployment and operation of autonomous vehicles on Uber’s platform, including vehicles based on Rivian’s R2 platform. The shares are dilution; the collaboration is the consideration that could create future value.
July public offering
Rivian sold 75 million Class A shares at $15.50 each in July 2026. Underwriters exercised an option for another 11.25 million shares, bringing the offering shares to 86.25 million. Rivian reported approximately $1.317 billion in net proceeds. Because the sales occurred after June 30, they should not be added to the June 30 outstanding balance as though they were already included. They are, however, relevant to an investor reading about Rivian after the offering.
Issued shares versus potential future shares
Rivian reported 327 million potential shares excluded from its diluted-loss-per-share calculation at June 30, 2026. These shares were excluded because potentially dilutive securities can be anti-dilutive in a loss period or because issuance depends on events that have not occurred.
| Potential source | Potential shares excluded | What the figure means |
|---|---|---|
| Green Convertible Notes | 149 million | Conversion-related potential shares; not currently outstanding |
| RSUs, employee stock purchase plan and other awards | 89 million | Awards or plan interests that may produce shares under their terms |
| Stock options | 77 million | Options that may become shares if exercised and conditions are met |
| Warrants | 12 million | Warrant-related potential shares |
| Total | 327 million | Excluded from diluted loss per share at June 30, 2026 |
The 327 million figure is not a promise that all those shares will be issued and is not a reliable point estimate of net future dilution. Some instruments may expire, remain out of the money, settle in cash, or be excluded because issuing them would reduce rather than increase loss per share. Treat it as an inventory of possible dilution channels, not as shares already added to your denominator.
Rank #3
- Stay Organized with Ease: Our To Do List Notepad provides multiple sections with plenty of space to jot down all of your important tasks.A versatile office supply perfect for daily task management, helping you keep track of everything that needs to be done and prioritize effectively.
- Achieve Your Productivity Goals: Begin each day on a positive note, reminding you of your potential, strength, and the significance of staying focused on your goals. Our Daily Checklist Notepad is the ultimate tool to streamline your daily planning and elevate your productivity. With a clear and concise overview of your tasks, you can effortlessly prioritize what truly matters and make consistent strides towards achieving your goals.
- Reliable and Stylish: Our to do list planner combines functionality with durability. With a transparent PP cover, the inner pages are well-protected from dirt and wear. Additionally, the back cover is crafted with thick paperboard, offering a stable surface for your writing needs. Each notepad includes 52 pages of high-quality, 100gsm paper, which is thick and non-bleeding, resulting in a smooth and enjoyable writing experience.
- Versatile Use: This daily checklist notepad, suitable for teacher supplies and a wide range of applications, proves invaluable in various settings including work, school, and home. Whether you need to organize your daily tasks, plan a project, or create a grocery list, this notepad serves as the ideal tool. Its compact size ensures easy portability, allowing you to conveniently carry it with you throughout your day.
- Perfect Present for Anyone: Our Daily To-Do List Notepad is the perfect present for those who value organization and productivity. With its stylish design and versatility, this office desk accessory is also a practical addition to school supplies. Suitable for students, professionals, and homemakers alike, it helps keep tasks and priorities in check effortlessly.
How the convertible notes can affect dilution
2029 Green Convertible Notes
Rivian reported an initial conversion rate of 49.6771 shares per $1,000 principal for the 2029 notes. That corresponds to an initial conversion price of approximately $20.13 per share. If conversion conditions are met and holders convert, Rivian may settle in cash, shares, or a combination, at Rivian’s election.
2030 Convertible Notes
The 2030 notes had an initial conversion rate of 42.929 shares per $1,000 principal, corresponding to approximately $23.29 per share. Settlement can likewise be in cash, shares, or a combination at Rivian’s election.
Capped calls
Rivian’s Q2 filing says capped calls on the 2030 notes offset economic dilution from conversion up to the cap price. That protection is limited: it does not make every conversion outcome dilution-free, and the filing does not support subtracting the capped-call effect from the 327 million gross potential-share figure without modeling the note terms and the stock-price scenario.
Employee awards and stock-based compensation
Employee equity is another potential source of future shares. Rivian reported $433 million of stock-based compensation expense for the six months ended June 30, 2026, and approximately $1.537 billion of unrecognized compensation for unvested awards at that date.
Those dollar amounts are accounting measures, not counts of shares issued during the period. The unrecognized amount represents compensation that may be recognized as employees meet vesting or service conditions; the eventual share impact depends on award terms, vesting, exercises and forfeitures. Analyze the award-related potential shares separately from the current outstanding share count.
Recommended Free Tools
Rank #4
- 【Adjustable & Ergonomic】：This laptop stand can be adjusted to a comfortable height and angle according to your actual needs, letting you fix posture and reduce your neck fatigue, back pain and eye strain. Very comfortable for working in home, office and outdoor.
- 【Sturdy & Protective】 ：Made of sturdy metal, it can support up to 17.6 lbs (8kg) weight on top; With 2 rubber mats on the hook and anti-skid silicone pads on top & bottom, it can secure your laptop in place and maximum protect your device from scratches and sliding. Moreover, smooth edges will never hurt your hands.
- 【Heat Dissipation】 ：The top of the laptop stand is designed with multiple ventilation holes. The open design offers greater ventilation and more airflow to cool your laptop during operation other than it just lays flat on the table.
- 【Portable & Foldable】：The foldable design allows you to easily slip it in your backpack. Ideal for people who travel for business a lot.
- 【Broad Compatibility】：Our desktop book stand is compatible with all laptops from 10-15.6 inches, such as MacBook Air/ Pro, Google Pixelbook, Dell XPS, HP, ASUS, Lenovo ThinkPad, Acer, Chromebook and Microsoft Surface, etc.Be your ideal companion in Home, Office & Outdoor.
Why dilution does not automatically equal a matching price drop
Suppose Rivian issues shares for cash equal to the market value of the company before issuance. Immediately after the transaction, the ownership percentage of each old share falls, but the company also holds the new cash. The theoretical per-share effect depends on the price paid, transaction costs and how investors value the use of the proceeds.
An issuance below prevailing value can transfer more economic value to the new investors than an issuance at a fair price. An issuance tied to a strategic partner can create benefits that are difficult to value in advance. Conversely, raising capital to cover losses without improving the business can leave investors with more shares outstanding and no proportional increase in expected future cash flows.
Rivian’s warning about possible price pressure is therefore important, but it is not a mechanical rule. Production, deliveries, margins, liquidity, interest rates, competition, execution of the R2 program and the autonomous-vehicle partnerships can all influence the market price independently of share count.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Voting dilution and economic dilution are not identical
With two common-stock classes, an investor should ask two questions:
- Economic ownership: What percentage of the company’s total equity does each share represent after the issuance?
- Voting power: What percentage of votes does each class control under Rivian’s voting rights?
Because Class B has different voting rights and one-for-one conversion terms, a transaction can alter voting concentration differently from economic ownership. A Class A holder should read the applicable class rights and conversion provisions rather than assume that the percentage change in total shares equals the change in control.
Best Value
- Twin-Ball Design : Hiacry gel pen features a double ball conical tip that reduces writing resistance and provides a stable and smooth writing experience. 0.7mm quick drying black ink ensures no jumping, leakage or seepage.
- Quick-Dry Long Lasting Ink：0.7mm black ink can slide effortlessly, dry immediately, & is not easily dirty. It has a high-capacity reservoir (up to 1300 meters), which is very suitable for left-handed & right-handed users.
- Sleek Design for Journaling & Planning: Engineered with a low center of gravity and precision tip for steady ink flow, these journaling pens excel at note-taking, sketching, planning, and more. They combine stylish pens with top-tier performance.
- Rolling Ball Design：The pocket clip with roll ball design can be easily attached to notebook pockets and binders, in addition, the fidget on the pen clip is also a small toy for your daily thinking to relieve stress.
- Comfortable Non-Slip Grip：The ergonomic pen barrel has a soft rubberized coating for a comfortable, non-slip grip, so you won't get fatigued even after long hours of writing.
The 2025 authorization scenario: useful context, not a forecast
Rivian’s 2025 proxy presented an illustrative scenario using capitalization and stock-price data from April 23, 2025. In that scenario, currently outstanding shares represented 33% of authorized shares, while assumptions covering awards, warrants, convertible notes, future plans and Volkswagen issuance could reach 51% of authorized common shares.
This was a historical authorization exercise based on stated assumptions and a specific date. It was not a prediction of Rivian’s current dilution, and it should not be read as saying that 51% of shares will be issued.
How existing investors should analyze dilution
- Set the correct date. Start with the latest reported outstanding shares, 1.358 billion Class A and about 4 million Class B as of June 30, 2026. Add later transactions only when the filing or offering documents say they occurred.
- Separate completed issuance from potential issuance. Count the Volkswagen and Uber shares and the July offering as transactions that occurred under their stated terms. Keep the 327 million potential shares in a separate scenario bucket.
- Identify what Rivian received. Record cash proceeds, strategic partnerships and any conditions attached to the issuance. A share count without the consideration gives an incomplete picture.
- Check settlement terms. Convertible notes may settle in cash, shares or a combination. Capped calls may offset some economic dilution only within their cap-price range.
- Review per-share measures. Track shares used in loss-per-share calculations, but remember that anti-dilutive or contingent securities can be excluded from the reported diluted figure.
- Assess value creation. Ask whether the capital can improve production, technology, liquidity or future cash generation enough to offset the smaller ownership percentage.
- Monitor future filings. Look for new issuances, option exercises, vesting, note conversions, warrant activity and changes in the share count rather than relying on an old authorization scenario.
Questions to ask before treating dilution as good or bad
- Were the new shares sold at a price that appears fair relative to the trading market and the company’s prospects?
- Is the consideration cash, a strategic arrangement, or both?
- Are the proceeds sufficient to fund a defined business milestone, or mainly to extend operations?
- Could notes, options, warrants or employee awards add shares later?
- Will conversion be settled in cash, shares or a combination?
- Does the transaction change voting control differently from economic ownership?
- Has the company clearly reported the post-transaction share count?
Bottom line for Rivian investors
Rivian’s 2026 share issuances reduce the percentage of the company represented by each existing share. The June 30, 2026 filing reported 1.358 billion Class A shares and about 4 million Class B shares, followed by a July offering of 75 million shares plus 11.25 million option shares. Rivian also disclosed 327 million potential shares that were not yet outstanding and were excluded from diluted loss per share.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
Those figures establish dilution exposure, not an automatic loss equal to the percentage increase in shares. The proper judgment is whether the cash and strategic value Rivian receives produce enough additional company value, earnings potential or financial durability to compensate existing owners for owning a smaller slice.
Quick Recap
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.
