Eric Bach, the former Senior Vice President of Product and Chief Engineer at Lucid Motors, has liquidated approximately $3.97 million worth of company stock across two transactions since being fired in early November.
Lucid, a Saudi-backed EV maker, went public in July 2021 after merging with the special purpose acquisition company (SPAC) Churchill Capital Corp IV.
A new Form 144 filing from Tuesday shows Bach sold 273,048 shares of Lucid Class A common stock. The transaction was worth about $2.80 million.
The same filing discloses a prior sale of 102,827 shares on December 29, 2025, valued at approximately $1.15 million based on that day’s closing price of $11.12.
Escalating Compensation
The full scope of Bach’s equity accumulation at Lucid is detailed in the wrongful termination complaint his attorneys filed on December 9, 2025 in the United States District Court for the Northern District of California.
The complaint, which alleges discrimination, retaliation, and wrongful termination, uses Bach’s compensation history as evidence that the company could not have fired him for performance reasons.
According to the filing, Lucid awarded Bach more than $5.2 million in equity in 2022, followed by $7.2 million in equity in 2023, and a $9 million stock grant in September 2024.
The company increased his base salary from $488,942 in 2023 to $626,000 by 2025 and separately awarded him a $1 million bonus for his work on the Gravity SUV, Lucid‘s second model — which began customer deliveries last year.
On June 17, 2025 — less than five months before his termination — Lucid granted Bach 600,000 restricted stock units under a four-year vesting schedule.
The first tranche of 75,000 RSUs vesting on September 5, 2025, followed by quarterly installments of 37,500.
That grant, disclosed in a Form 4 filing with the SEC, brought his total beneficial ownership to approximately 3.84 million shares of Class A common stock.
The company ousted the executive in November, as first reported by EV on November 12 and then confirmed by Bach in his complaint filed in December.
A Timeline of Stock Sales
Before the departure, the executive’s only open-market sale on record was 89,959 shares on August 16, 2024 at an average price of $3.14 per share — approximately $282,000 in total proceeds.
A separate transaction on September 5, 2025 involved 19,074 shares withheld by Lucid at $16.16 per share to satisfy tax obligations on vesting RSUs and performance-based stock units.
That transaction followed the company’s 1-for-10 reverse stock split executed in late August.
The December 29 and February 3 disposals total 375,875 shares and approximately $3.97 million.
[Prices for the December and February sales are based on closing prices on the respective transaction dates. The September 2025 transaction reflects post-reverse-split share counts.]
In early November, when reporting its third-quarter earnings results, Lucid announced several organizational changes, including two promotions, one retirement, and one departure.
Lucid reported Bach’s exit in a press release that day as a “departure,” without disclosing that the executive had been terminated.
EV reported on November 12 that Bach had in fact been forced to leave the company.
In the complaint, Bach’s attorneys cite his escalating compensation as evidence contradicting Lucid‘s stated reasons for his termination, including the board-level endorsements he received.
The filing states that Lucid Chairman Turqi Alnowaiser praised Bach’s dedication and expressed a desire to continue working with him, and that board member Andrew Liveris indicated the Chief Technology Officer position was Bach’s “to lose.”
Lucid has denied the allegations.
A company spokesperson told EV at the time of the lawsuit’s filing that Bach’s claims were “absurd” and that it was “confident that the facts revealed through the course of litigation will establish the legitimate issues leading to Mr. Bach’s termination.”
