Public Investment Fund's Form 4 filing
Lucid Group, Inc. (LCID) · filed Dec 15, 2025
- Accession no.
- 0001104659-25-121249
- Filed
- Dec 15, 2025, 5:26 PM ET
- Trade date
- Nov 25, 2025
- Filing delay
- 20 daysLate
- Rule 10b5-1 plan
- Not checked
This filing lists 1 derivative transaction. It was filed 20 days after the trade, past the 2-business-day deadline.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Public Investment FundCIK 0001767640 | Director, 10% Owner |
| Ayar Third Investment CoCIK 0001874832 | Director, 10% Owner |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
This filing has no transactions of this kind.
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Nov 25, 2025 | Class A Common Stock | PPurchaseAcquired | +37,477,050 | –F1 | – | 1 | Indirect |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- 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.
Referenced by the price of 1 transaction in Table II.
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.