Emad Dlala

About Emad Dlala

Senior Vice President, Engineering and Digital at Lucid; joined in 2015 and previously led Powertrain. He oversees vehicle engineering, powertrain, software, and systems, driving technology leadership, cost efficiency, and manufacturability as Lucid scales software-defined architectures . He was promoted to SVP Powertrain in Feb 2025; prior roles include VP Powertrain and earlier technical leadership at Lucid; he holds a PhD and M.Sc. in Electrical Engineering (Aalto University) and a B.Sc. (Al‑Zawiya University) . Company execution under his engineering remit included industry-leading efficiency and charging milestones and expanded production of Gravity; Lucid delivered four consecutive record quarters in 2024 (+71% YoY deliveries) and began Gravity production, while improving key financial metrics and liquidity . Recent scope expansion in Nov 2025 put him over “all product development functions” amid rising deliveries and revenue ($336.6M in Q3 2025) .

Past Roles

External Roles

Fixed Compensation

• Not disclosed for Dlala; he was not a named executive officer (NEO) in the 2025 proxy. Lucid discloses NEO salaries and incentives for Rawlinson, Winterhoff, Dhingra, Bach, Bell only .
• Stock ownership guidelines and compensation policies for senior executives are disclosed (see “Equity Ownership & Alignment”) .

Performance Compensation

• Individual bonus metrics, RSU/PSU grant values, vesting schedules, and payouts for Dlala are not disclosed.
• Company’s 2024 annual incentive program metrics for NEOs: deliveries, gross margin, free cash flow, start of Gravity SOP, plus individual modifier; equity mix emphasized PSUs aligned to financial/operational/strategic goals (no premium-priced options in 2024) . These illustrate Lucid’s pay-for-performance framework, though not specific to Dlala.

Equity Ownership & Alignment

• Stock Ownership Guidelines: Senior Vice Presidents are expected to hold 3× annual base salary; counted toward compliance are RSUs and earned PSUs; options do not count. Five-year compliance window from Jan 23, 2023 or appointment date .
• Hedging and pledging: prohibited for directors and employees, including NEOs; consistent governance standards apply enterprise-wide .
• Clawback policy: adopted Nov 13, 2023, enabling recovery of incentive compensation upon required restatement under Nasdaq/Exchange Act Rule 10D .
• Beneficial ownership: per 2025 proxy, individual holdings for Dlala are not itemized; group holdings for all executive officers and directors collectively are provided (64% voting power including PIF/Ayar) .

Employment Terms

• Executive Severance Plan (effective July 23, 2021):
  • Non–change-in-control termination (without “cause”/constructive termination): base salary continuation for months in participation agreement; COBRA premiums with tax gross-up; limited acceleration for pre–July 23, 2021 awards (25% +5% per year, max 50%); post–July 23, 2021 awards generally forfeit .
  • Change-in-control termination (3 months before/12 months after): lump-sum equal to (base + target annual cash incentive)/12 × months in participation agreement; COBRA with tax gross-up; 100% acceleration of outstanding equity (except CEO grant carve-outs) .
  • Example SVP levels in 2024: Eric Bach (SVP) 9 months non-CIC; 12 months CIC; Winterhoff similarly adjusted to 12/12 upon promotion; levels vary by individual agreements .
• Vesting Acceleration Policy (death/disability): accelerates all outstanding unvested RSUs/PSUs (subject to award terms/exceptions) .
• Restrictive covenants: senior leaders sign Confidential Information and Invention Assignment Agreements (non-solicit, confidentiality, invention assignment); described for NEOs and senior executives .

Performance & Track Record

• 2024 operational highlights: Gravity production start; AMP‑1 capacity to 90k; AMP‑2 expansion toward 150k; record deliveries across four quarters (+71% YoY); leading Air efficiency metrics (5.0 mi/kWh; 146 MPGe) .
• Q3 2025: 4,078 deliveries, revenue $336.6M; liquidity would be ~$5.5B pro forma for undrawn $2.0B DDTL facility increase by Ayar; organizational changes expanded Dlala’s remit over complete product development .

Board Governance

• Not applicable; Dlala is an executive officer, not a director. Governance context: Lucid is a “controlled company” (Ayar/PIF); board/committee independence standards and charters detailed in proxy .

Related Party & Risk Indicators

• Financing support from Ayar/PIF via expanded delayed draw term loan ($750M → ~$2.0B on Nov 4, 2025), undrawn; reflects liquidity strategy and governance under controlled-company structure .
• Talent risk: Lucid’s filings highlight competition for skilled personnel and ongoing leadership transitions (CEO change; organizational changes), raising retention risks for key engineering leaders such as Dlala .
• Hedging/pledging prohibited; clawbacks in place; no tax gross-ups for CIC; no single-trigger acceleration—mitigates shareholder-unfriendly practices .

Say‑on‑Pay & Compensation Peer Group

• 2024 say‑on‑pay approval ~99%—strong shareholder support for NEO compensation program .
• Peer group spans auto/tech (Tesla, GM, Ford, Magna, Mobileye, Aptiv, CrowdStrike, etc.)—used to benchmark executive pay design and levels .

Expertise & Qualifications

• Deep technical expertise in electromagnetics, motor design, and power electronics; two decades of engineering experience; advanced degrees (PhD/M.Sc., Electrical Engineering, Aalto University; B.Sc., Al‑Zawiya University) .

Equity Ownership & Insider Activity

• Individual beneficial ownership and Form 4 transactions for Dlala are not disclosed in the proxy/8‑K excerpts reviewed; no Form 4 filings identified in the retrieved documents. Lucid prohibits hedging/pledging, and executive stock ownership guidelines apply at the SVP level (3× salary) .

Employment Terms Summary (applicability context for SVP)

• Severance and CIC economics are governed by the Executive Severance Plan; SVP-level precedents (e.g., Bach, Winterhoff) indicate 9–12 months severance ranges with 100% equity acceleration upon CIC termination; individual participation terms vary and are not disclosed for Dlala .

Investment Implications

• Scope expansion consolidates engineering and digital under Dlala, a technologist credited with Lucid’s efficiency lead; this can improve execution speed, software quality, and cost discipline—key levers for margins and time-to-market as Gravity ramps and the Midsize platform approaches .
• Retention risk is non-trivial given industry competition; stock ownership guidelines, clawbacks, and severance/CIC frameworks partially mitigate misalignment but do not replace visibility into individual incentives—limited disclosure of Dlala’s specific pay/vesting reduces clarity on sell-pressure and alignment .
• Controlled-company capital support (Ayar/PIF) strengthens liquidity runway; engineering leadership continuity under Dlala is a positive signal for technology execution; monitor future proxies/8‑Ks for compensation terms, equity grants, and any Form 4 activity that could indicate near-term selling pressure .