Rivian founder and CEO RJ Scaringe bought 41,000 shares of company stock worth about $1 million, a securities filing posted Monday afternoon shows.
The latest proxy filing, which pre-dated this purchase, shows Scaringe owns 11.99 million shares of class A stock, or about 1.3%, and 7.82 million class B common stock. He also holds 4.3 million indirect shares via a trust and 4,595 indirect shares through an LLC.
The purchase comes as Rivian shares fell Monday following news of a legal dispute with a seat supplier that puts its Amazon electric van program at risk and Ford’s disclosure that it has sold another 7 million of its holdings in the company.
A Rivian spokesperson declined to comment on why Scaringe was buying the stock now.
Rivian debuted as a publicly traded company in November with an opening share price of $106.75, a price that made it one of the …
