Rivian‘s founder and CEO RJ Scaringe sold 17,450 shares of common stock on December 23 for approximately $374,000, according to a filing with the Securities and Exchange Commission (SEC) on late Monday.
The shares were sold at a weighted average price of $21.4253, with individual transactions ranging from $21.21 to $21.69.
The sale was executed automatically under Scaringe’s Rule 10b5-1 trading plan adopted last March, and amended on June 11.
Following the transaction, Scaringe directly holds 1,150,109 shares. He also holds 2,297 shares through an LLC and 2,632,766 shares through a trust.
As of press time, Rivian shares fell 4.8% to $19.67, giving the company a market capitalization of $25.3 billion as it prepares to report its fourth quarter production and delivery figures.
Despite the day’s decline, the stock has gained 48% in 2025 with slightly more than one trading session until the year closes.
Previous Sales
Scaringe has sold shares on multiple occasions in recent months under the trading plan.
In November, the CEO sold 52,350 shares of common stock valued at nearly $869,000.
That sale came less than a week after Rivian disclosed its board had granted Scaringe a new performance-based stock option for up to 36.5 million shares, replacing a previous 20.4 million share award from 2021.
In September, Scaringe sold shares on three occasions totaling 52,350 shares for gross proceeds of approximately $753,000.
R2 Production Progress
Earlier this month, Scaringe shared footage from Rivian‘s Normal, Illinois, plant showing R2 bodies moving through automated assembly equipment as the company prepares for its most important launch yet.
The video showed bodies running through an automated hang-on line where doors, hoods, and lift gates are installed robotically — a departure from the process used for the R1. Scaringe said the fit and finish of pilot units is meeting expectations.
Rivian said in September that “hundreds of production-intent builds” had rolled off its pilot line in Normal, with vehicles currently undergoing road testing in preparation for full-scale production.
The company will continue running vehicles through its plant using full production equipment and processes through year-end.
The EV maker is expected to report its fourth quarter production and delivery figures in the first few days of January.
Rivian‘s strongest quarter of 2025 was the third one, as US consumers rushed to acquire a new electric vehicle before the $7,500 Tax Credit expired on the last day of September.
