Rivian overhauls CEO Scaringe's pay package to $4.55 billion, with new profit, stock-based award

Core Insights - Rivian Automotive has replaced CEO RJ Scaringe's previous compensation plan with a larger stock award contingent on achieving new profit targets [1] Company Summary - The new compensation structure emphasizes performance-based incentives, aligning the CEO's financial rewards with the company's profitability goals [1] - This change reflects Rivian's strategic focus on improving financial performance and shareholder value in the competitive electric vehicle market [1]