2 unchanged sentences
Rivian Automotive, Inc.
−Removed: (together with its consolidated subsidiaries, “Rivian” or the “Company”), Class A common stock has been traded on the Nasdaq Global Select Market under the symbol “RIVN” since November 10, 2021.
+Added: Class A common stock has been traded on the Nasdaq Global Select Market under the symbol “RIVN” since November 10, 2021.
Prior to that date, there was no public trading market for our Class A common stock.
Our Class B common stock is not listed or traded on any stock exchange.
−Removed: As of February 14, 2025, there were approximately 108 shareholders of record of our Class A common stock and one shareholder of record of our Class B common stock.
+Added: As of January 29, 2026, there were approximately 119 shareholders of record of our Class A common stock and one shareholder of record of our Class B common stock.
The number of beneficial owners is substantially greater than the number of shareholders of record because a large portion of our Class A common stock is held in “street name” by brokers, banks, and other financial institutions.
3 unchanged sentences
Our operations are generally conducted through our subsidiaries, and accordingly, our ability to pay dividends to our stockholders will be dependent on the earnings and distributions of funds from these subsidiaries.
−Removed: Covenants in the ABL Facility and the indentures governing the 2026 Notes are material restrictions on the ability of certain of our subsidiaries to pay dividends to us, and we may enter into credit agreements or other borrowing arrangements in the future that restrict our ability to declare or pay cash dividends or make distributions in the future.
+Added: Covenants in the ABL Facility and the indenture governing the 2031 Green Secured Notes are material restrictions on the ability of certain of our subsidiaries to pay dividends to Rivian Automotive, Inc., and we may enter into credit agreements or other borrowing arrangements in the future that restrict our ability to declare or pay cash dividends or make distributions in the future.
Any future determination related to our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects, and other factors the board of directors deems relevant, and subject to the restrictions contained in any future financing instruments and applicable law.
4 unchanged sentences
333-259992), as amended, which was declared effective by the SEC on November 9, 2021.
−Removed: The net proceeds from our IPO have been invested in investment grade instruments.
−Removed: There has been no material change in the use of proceeds from our IPO as described in our final prospectus.
+Added: There was no material change in the use of proceeds from our IPO as described in our final prospectus.
+Added: As of December 31, 2025, we have used all of the net proceeds from our IPO.
Stock Performance Graph
−Removed: The following stock performance graph shall not be deemed soliciting material or to be filed with the SEC for purposes of Section 18 of the Exchange Act, nor shall such information be incorporated by reference into any of our other filings under the Exchange Act or the Securities Act of 1933 (“ Securities Act”).
−Removed: The graph below compares the cumulative monthly stockholder return on our Class A common stock with the cumulative monthly total return on the Nasdaq Composite Index and the Nasdaq OMX Global Automobile, none of which pay dividends.
+Added: The following stock performance graph shall not be deemed soliciting material or to be filed with the SEC for purposes of Section 18 of the Exchange Act, nor shall such information be incorporated by reference into any of our other filings under the Exchange Act or the Securities Act of 1933, as amended (“Securities Act”).
+Added: The graph below compares the cumulative monthly stockholder return on our Class A common stock with the cumulative monthly total return on the Nasdaq Composite Index and the MSCI ACWI Automobiles and Components Index.
RIVIAN AUTOMOTIVE, INC.
−Removed: It assumes an initial investment of $100 at the market close on November 10, 2021, which is the first day our Class A common stock began trading.
+Added: below assumes an initial investment of $100 at the market close on November 10, 2021, which is the first day our Class A common stock began trading.
The following table summarizes stock performance graph data points in dollars.
Base Period Fiscal Quarters
−Removed: Nov 10 Q4 Q2 Q4 Q2 Q4 Q2 Q4
+Added: Nov 10 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4
2021 2021 2022 2022 2023 2023 2024 2024 2025 2025
1 unchanged sentence
NASDAQ Composite $ 100 $ 100 $ 71 $ 68 $ 88 $ 96 $ 114 $ 124 $ 130 $ 149
−Removed: NASDAQ OMX Global Automobile $ 100 $ 94 $ 74 $ 65 $ 83 $ 83 $ 84 $ 90
+Added: MSCI ACWI Automobiles and Components 1
+Added: $ 100 $ 97 $ 68 $ 53 $ 78 $ 77 $ 72 $ 95 $ 85 $ 108
+Added: 1 In prior years, we utilized the Nasdaq OMX Global Automotive Index as our industry benchmark.
+Added: As this index was discontinued in January 2025, we have selected MSCI ACWI Automobiles and Components as a comparable replacement index.
RIVIAN AUTOMOTIVE, INC.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.