05:37 AM EST, 11/10/2025 (MT Newswires) -- Rivian Automotive ( RIVN ) said in a regulatory filing Friday it provided an option to its Chief Executive Robert Scaringe to buy up to 36.5 million class A common shares of the company at $15.22 apiece under the 2025 CEO Award.

The company cancelled its prior performance-based option for the CEO to acquire up to 20.4 million shares under the 2021 CEO Performance Award, the EV manufacturer said in its 8-K filing with the US Securities and Exchange Commission.

The new award offers a total increase of about 16.1 million shares for Scaringe, Rivian said.

Shares of Rivian were up 1.8% in recent Monday premarket activity.