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Rivian founder and CEO RJ Scaringe has transferred a portion of his ownership stake and voting power as part of a newly settled divorce proceeding, according to a regulatory filing<\/a>.\u00a0<\/p>\n Scaringe moved about 4 million in shares and 6 million in options to his ex-wife, Meagan Scaringe, on July 9 as part of the settlement, the filing shows. At Rivian\u2019s current stock price, those shares and options could be worth roughly $130 million, though they have varying strike prices that would affect the total return if sold. The change in stock ownership comes at the end of a two-year-long divorce proceeding, court documents show.<\/p>\n Scaringe owned more than 15 million shares of Class A stock and nearly 8 million Class B shares when the company submitted its annual proxy report April 29<\/a>. As a result of the transfer, Scaringe\u2019s voting power has slipped from 7.6% earlier this year to around 4%, the lowest since Rivian\u2019s 2021 IPO.<\/p>\n The shift in stock ownership doesn\u2019t have an impact on Rivian\u2019s business or operations, according to the company. <\/p>\n In an official statement emailed to TechCrunch, a spokesperson said \u201cRJ and Meagan finalized their divorce. They will continue to prioritize co-parenting <\/em>their children.\u201d<\/p>\n The settlement comes at a pivotal time for Rivian. Rivian has redesigned its R1S SUV and R1T truck in a bid to lower manufacturing costs, while improving performance of its flagship vehicles. However, the company is banking on the next addition to its lineup \u2014 the highly anticipated R2 SUV that has a $45,000 base price \u2014 to grow sales<\/a>. That vehicle won\u2019t go on sale until the first half of 2026.\u00a0<\/p>\n \n