Rivian Automotive Inc.’s top executive earned a whopping $402.6 million for 2025 after the electric-vehicle maker approved a moonshot compensation package that could pay out billions of dollars in the coming years.

Chief Executive Officer RJ Scaringe’s compensation included $373.5 million in option awards, more than $26.6 million in stock awards and about $1.12 million in salary, according to a regulatory filing Monday.

The total package likely ranks among the biggest annual CEO payouts ever, reflecting ever-greater compensation for leaders seen as essential to their companies. Scaringe founded Rivian in 2009 and took the company public in 2021, growing the company from a scrappy startup into an automaker with national scale.

Rivian in November awarded the executive a compensation package worth as much as $4.6 billion over a decade. Around the same time, Tesla Inc. shareholders approved a performance award for CEO Elon Musk that could pay him around $1 trillion.

For Scaringe to collect his windfall, Rivian must hit certain performance targets over time on metrics including stock price, adjusted operating income and cash flow. In connection with last year’s award, the company’s compensation committee canceled a 2021 plan for the CEO, saying it contained goals that were unlikely to be attained, according to a company filing.

Rivian has recently accomplished key milestones despite EV demand slumping in the U.S. amid major policy changes, including the loss of consumer tax credits worth as much as $7,500.

Rivian posted its first-ever gross profit in 2025, in part by slashing costs across the company. It also recently began production of the R2, a lower-cost electric SUV aimed at appealing to a broader swath of consumers.

Rivian shares were little changed after the close of regular trading in New York on Monday. The stock has declined about 15% this year, lagging a 4.8% advance in the S&P 500 Index.

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