Rivian Automotive Inc. (RIVN) shares dipped in pre-market trading following news of additional insider stock sales and the unveiling of an eye-popping CEO pay package.

CEO Offloads More Than a Quarter Million in Stock

Rivian CEO RJ Scaringe sold over 17,450 shares of the company at $15.1134 each, according to an SEC filing on Friday. The transaction totaled roughly $263,728, marking the second significant sale this month.

Earlier in November, Scaringe had dumped over 52,350 shares on November 13 at $16.5966 apiece, a transaction valued at approximately $868,832. Combined, the CEO's November stock sales came to about $1.13 million. When executives sell shares, it doesn't always signal trouble, but it certainly catches investors' attention.

A Surprising Take on the EV Tax Credit

In a somewhat counterintuitive move, Scaringe recently praised President Donald Trump's decision to roll back the $7,500 federal EV tax credit. The CEO argued that eliminating the incentive "simplifies things" for Rivian in the medium to long term, while also creating less competition in the electric vehicle space. The logic? If everyone loses the subsidy, smaller or less established EV makers might struggle more than Rivian.

A Tesla-Style Payday in the Works

Perhaps the most striking development is Rivian's proposed compensation package for Scaringe. The structure mirrors the controversial pay deal shareholders approved for Tesla Inc. (TSLA) CEO Elon Musk. Scaringe's package could be worth up to $4.6 billion over the next decade, contingent on hitting both profitability targets and ambitious stock price milestones.

That's a big number for a company still working its way toward sustained profitability. But then again, Tesla was in a similar position when Musk's landmark compensation plan was first approved, and that turned out to be one of the most lucrative executive pay packages in corporate history.

Price Action: RIVN slipped 1.72% to $16.57 in pre-market trading.