Rivian Automotive CEO Purchases $1 Million Worth of Stock

May 16, 2022 5:03 PM EDT

According to SEC Form 4, on May 16, Robert Scaringe, the CEO of Rivian Automotive, Inc. (NASDAQ: RIVN), purchased 41,000 shares of the company’s Class A common stock at an average price of $25.7772. The total amount of purchased shares is approximately $1.05 million.

Following the purchase, Scaringe owns 169,175 shares directly, 4,337,997 through a trust and 4,595 by LLC.

Shares of Rivian are down 76% year-to-date given the correction in high-multiple stocks and supply chain issues faced by the EV maker.

By Davit Kirakosyan

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