Rivian Automotive Director Jay Flatley purchased $1,172,400 in Rivian Automotive Inc. shares on May 26. FLATLEY JAY T purchased 40,000 shares at $29.31 per share. Following the completion of this transaction, the insider’s holdings increased to 92,616 shares valued roughly at $2.85 million.
Behl Jiten also sold 1,608 shares for a total of $41,535 in profits. The insider now owns 25,900 shares after selling them for $25.83 each.
R J Scaringe, CEO of Rivian had already added 41,000 shares to its account. He purchased Rivian Automotive Inc. shares for $25.78 each in a $1,056,865 transaction. The insider’s holdings grew to 41,000 shares, worth about $5.2 million, once the transaction was completed.
Flatley, according to Rivian, has been a director of the corporation since May 2021. From January 2020 to May 2021, Flatley chaired the board of directors of Illumina, Inc., a publicly traded company that specializes in sequencing and array-based genetic analysis solutions. Previously, he held the positions of executive chairman from July 2016 to January 2020, chief executive officer from December 2013 to July 2016, and president and CEO from October 1999 to December 2013.
Before that, from July 1994 until its sale to Amersham Pharmacia Biotech in September 1998, Mr. Flatley served as co-founder, president, chief executive officer, and director of Molecular Dynamics, a life sciences company specializing in genetic discovery and analysis.