Public Investment Fund - Dec 22, 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
Stock symbol
LCID
Transactions as of
Dec 22, 2022
Transactions value $
$914,999,991
Form type
4
Date filed
12/27/2022, 08:34 PM
Previous filing
Dec 19, 2022
Next filing
Jan 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LCID Class A Common Stock Purchase $915M +85.7M +8.44% $10.68 1.1B Dec 22, 2022 By Ayar Third Investment Company F1, F2, F3
holding LCID Class A Common Stock 8.04M Dec 22, 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.