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Q4 Results/Call

Neurio

Neurio

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White Gravity GT
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Guidance of 9k vehicles for 2024 gonna hurt. Hope it will be short term.
 
Yup. Bad revenue miss, too. Currently down 9% in after-hours trading.
 
Let's see how the next quarter is. With a $69k starting price, they have to be able to sell more than 9k cars...i mean it's pretty cheap in the overall market. The only thing that could hold them back is the stigma of how overpriced Lucid used to be. Lucid seems to be doing heavy advertising though, so i'm optimistic!
 
Hopefully they're just learning to set expectations low rather than shoot for the moon and continue to downgrade your goals. Plus, with the interest rates through the roof still, there are definitely a number of people still avoiding large purchases.
 
What I can't rationalize is the Board's recent $6 million cash bonus award to Peter. Don't mind riding this pony for the long haul, but what kind of performance metrics results in a cash bonus in light of the reported numbers? Any insights would be appreciated.
 
PhotoEye said:
What I can't rationalize is the Board's recent $6 million cash bonus award to Peter. Don't mind riding this pony for the long haul, but what kind of performance metrics results in a cash bonus in light of the reported numbers? Any insights would be appreciated.
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I'm sure there is a long contract that he has with them with numerous bonuses along the way. Or not.
 
Bobby said:
I'm sure there is a long contract that he has with them with numerous bonuses along the way. Or not.
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Automatic bonuses tied to nothing? Don't want to believe that. I will, if documented, but this isn't Mr. Musk directing his board to make arbitrary bonus awards to him, simply because he controls the stock. I hope there is something substantive behind the award.
 
PhotoEye said:
Automatic bonuses tied to nothing? Don't want to believe that. I will, if documented, but this isn't Mr. Musk directing his board to make arbitrary bonus awards to him, simply because he controls the stock. I hope there is something substantive behind the award.
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Nothing? Overseeing the development of a new car on a new platform and building two new factories is nothing? Sheesh.
 
PhotoEye said:
Automatic bonuses tied to nothing? Don't want to believe that. I will, if documented, but this isn't Mr. Musk directing his board to make arbitrary bonus awards to him, simply because he controls the stock. I hope there is something substantive behind the award.
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It's not tied to nothing. It was probably tied to Gravity making the RC phase. Or some part of the factory build out.
 
PhotoEye said:
Automatic bonuses tied to nothing? Don't want to believe that. I will, if documented, but this isn't Mr. Musk directing his board to make arbitrary bonus awards to him, simply because he controls the stock. I hope there is something substantive behind the award.
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They may be tied to milestones like announce a SUV with fully functional prototypes in Q4 or it may be tiered bonuses like $x million if 5000 -7000 delivered cars. Who knows other than Peter, the Board, and their lawyers. 🤷🏻
 
Bobby said:
Nothing? Overseeing the development of a new car on a new platform and building two new factories is nothing? Sheesh.
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Bobby, that's what his salary is for, INHO. All of those accomplishments were planned for and consumed a significant chunk of money (that I expected). But, if that was part of his job, then why the bonus, given the financial performance.

Frankly, $6 million is really chump change for Lucid's top tier executives. I am not concerned about the amount, just the rationale.
 
PhotoEye said:
What I can't rationalize is the Board's recent $6 million cash bonus award to Peter. Don't mind riding this pony for the long haul, but what kind of performance metrics results in a cash bonus in light of the reported numbers? Any insights would be appreciated.
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I don't get it. Why would you count Rawlinson's money?
Try to mimic what he did, then let's talk.
 
Genghis said:
They may be tied to milestones like announce a SUV with fully functional prototypes in Q4 or it may be tiered bonuses like $x million if 5000 -7000 delivered cars. Who knows other than Peter, the Board, and their lawyers. 🤷🏻
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I agree that we are not in the know. However, the timing and the "look" are uncomfortable for me. The first time I've encountered a Board action I could not rationalize to an interested 3rd Party. I've been "in" from the beginning, so just uneasy about this one. Peace out!
 
The key is that it was a cash bonus, not a stock bonus. Which may or may not tell you something ....
 
RM-S8 said:
I don't get it. Why would you count Rawlinson's money?
Try to mimic what he did, then let's talk.
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Because I'm a shareholder.
 
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