'Rivian' CEO Sells Company Shares Twice in the New Year, Retains Majority Stake

On January 6 and 20, Robert J. Scaringe, CEO of electric-vehicle maker Rivian Automotive, Inc. (NASDAQ: RIVN), sold a portion of his Class A common stock in two transactions under a pre-established Rule 10b5-1 trading plan. In the first transaction, he disposed of roughly 17,450 shares at about $19.50 each—totaling approximately $340,000 (≈ KRW 440 million)—and in the second, he sold a similar number of shares at about $16 per share, securing around $279,000 (≈ KRW 360 million). The filing states that Scaringe still holds millions of shares, directly and indirectly, so these sales represent only a fraction of his overall economic interest.

The January 20 filing also reports that director Sanford Harold Schwartz had 1,020 restricted stock units (RSUs) vest as part of his compensation, bringing his direct common-share holdings to the low 190,000 range. This was classified as a routine stock-compensation vesting event rather than an open-market trade.

On January 2, Rivian announced that its fourth-quarter and full-year 2025 vehicle production and delivery totals were generally in line with its expectations. This month, the company is recalling about 19,600 R1T and R1S models from the 2022–2025 model years due to a potential rear-suspension component defect. At the same time, Rivian is building validation vehicles for its upcoming mid-size electric SUV, the R2, with customer deliveries targeted for the first half of 2026.

Founded in 2009, Rivian is a U.S. electric-vehicle manufacturer offering the R1T pickup, R1S SUV, and commercial electric vans. Through partnerships and investments with major backers such as Amazon and Volkswagen, it has been expanding both production capacity and its software platform. Founder and CEO Robert Scaringe and the company plan to scale up production and enhance profitability with the launch of the R2 in 2026.