PUBLIC INVESTMENT FUND - 22 Dec 2022 Form 4 Insider Report for Lucid Group, Inc. (LCID)

Role
Director, 10%+ Owner
Signature
The Public Investment Fund, /s/ H.E. Yasir O. Al Rumayyan, Governor
Issuer symbol
LCID
Transactions as of
22 Dec 2022
Net transactions value
+$914,999,991
Form type
4
Filing time
27 Dec 2022, 20:34:20 UTC
Previous filing
19 Dec 2022
Next filing
03 Jan 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LCID Class A Common Stock Purchase $914,999,991 +85,712,679 +8.4% $10.68 1,100,965,202 22 Dec 2022 By Ayar Third Investment Company F1, F2, F3
holding LCID Class A Common Stock 8,041,393 22 Dec 2022 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Purchased pursuant to the Subscription Agreement, dated November 8, 2022 between the Issuer and Ayar Third Investment Company ("Ayar") related to the equity distribution agreement, dated November 8, 2022 (the "Equity Distribution Agreement"), by and among the Issuer, on the one hand, and Barclays Capital Inc., BofA Securities, Inc. and Citigroup Global Markets Inc. on the other hand pursuant to which the Issuer could sell up to an aggregate of $600 million of its Class A Common Stock.
F2 The price per share is equal to the volume-weighted average price to the public of the shares that the Issuer actually sold pursuant to the Equity Distribution Agreement during the quarter.
F3 Ayar is a wholly-owned subsidiary of The Public Investment Fund of Saudi Arabia ("PIF"), and as such PIF may be deemed to beneficially own the Shares held by Ayar. In addition, H.E. Yasir O. Al Rumayyan is the Governor of PIF and the sole manager of Ayar and may be deemed to beneficially own the Shares by virtue of his power to vote the Shares.

Remarks:

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