PUBLIC INVESTMENT FUND - 25 Nov 2025 Form 4 Insider Report for Lucid Group, Inc. (LCID)

Role
Director, 10%+ Owner
Signature
Public Investment Fund, /s/ Yasir O. AlRumayyan, Governor
Issuer symbol
LCID
Transactions as of
25 Nov 2025
Net transactions value
$0
Form type
4
Filing time
15 Dec 2025, 17:26:38 UTC
Previous filing
10 Apr 2025
SEC
View on sec.gov

Reporting Owners (2)

Name Relationship Address Signature Signature date CIK
PUBLIC INVESTMENT FUND Director, 10%+ Owner KING ABDULLAH FINANCIAL DISTRICT (KAFD), AL AQIQ DISTRICT, RIYADH, SAUDI ARABIA Public Investment Fund, /s/ Yasir O. AlRumayyan, Governor 15 Dec 2025 0001767640
Ayar Third Investment Co Director, 10%+ Owner P.O. BOX 6847, RIYADH, SAUDI ARABIA Ayar Third Investment Company, /s/ Turqi A. Alnowaiser, Co-Manager 15 Dec 2025 0001874832

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LCID Forward purchase contract (obligation to buy) Purchase +1 1 25 Nov 2025 Class A Common Stock 37,477,050 $16.99 By Ayar Third Investment Company F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Ayar Third Investment Company ("Ayar") entered into a privately negotiated prepaid forward share purchase transaction with Citibank N.A. (the "forward counterparty"), pursuant to which Ayar will purchase 37,477,050 shares of Class A common stock, par value $0.0001 per share ("Common Stock") of Lucid Group, Inc. ("Lucid") for $636,735,079.50, with delivery of those shares to occur no later than November 1, 2031, subject to the forward counterparty's right to settle its delivery obligations prior to that date The prepaid forward transaction was entered into in connection with the pricing of an offering by Lucid of $975,000,000 aggregate principal amount of 7.00% convertible senior notes due 2031 (the "notes"). The prepaid forward transaction was subject to termination if the issuance of the notes was not consummated. The settlement of the issuance of the notes occurred on November 17, 2025.
F2 All share numbers reported herein give effect to the 1-for-10 reverse stock split of Lucid's shares of Class A common stock effective on August 29, 2025.
F3 Ayar is a wholly-owned subsidiary of Public Investment Fund of Saudi Arabia ("PIF"), and as such PIF may be deemed to beneficially own the shares held by Ayar. In addition, each of Turqi A. Alnowaiser and Yasir Alsalman, co-managers of Ayar, may be deemed to beneficially own the shares owned by Ayar by virtue of shared power to vote the shares. Neither Mr. Alnowaiser nor Mr. Alsalman has any, and each and disclaims, any pecuniary interest in the shares.

Remarks:

PIF may be deemed a director by deputization, as Mr. Alnowaiser, an employee of PIF, serves as a representative of Ayar on the Board of Directors of the Issuer.