SpaceX Stock Faces Another Wave of Insider Shares

SpaceX (NASDAQ:SPCX) faces a fresh batch of sellable insider stock Thursday, just days after a top executive put a sale plan on file.

• SPCX stock is moving. See the chart and price action here. 

A staggered post-IPO lockup expiration releases up to 328.4 million shares for potential sale by early venture investors and employees. At Wednesday’s close, the tranche carries a value of roughly $48.7 billion.

A Staggered Schedule

Instead of a single 180-day cliff, SpaceX spread insider selling eligibility across calendar- and earnings-linked dates. Thursday’s Day-105 release covers about 7% of eligible locked-up shares.

Two more tranches of similar size follow on Oct. 9 and Oct. 24. A larger 28% block frees up after third-quarter results, and the Dec. 8 expiry clears the rest. By then, about 40% of the company will be potentially tradeable, while CEO Elon Musk‘s stake stays locked until mid-2027.

Shotwell’s Sale Plan

The latest unlock follows regulatory disclosures filed on Tuesday. They show president and COO Gwynne Shotwell submitted an SEC Form 144 proposing the open-market sale of 342,170 Class A common shares, valued at about $51.96 million. 

The move followed a stock option exercise carried out under a Rule 10b5-1 trading plan she set up on June 23.Prearranged plans like hers let executives schedule trades in advance. The timing still lands at a sensitive moment for the stock.

Shotwell, long Musk’s second-in-command, owned 12.6 million shares when SpaceX went public, according to Fortune. The proposed sale works out to roughly 2.7% of that holding. She also pledged in July to donate part of her stake to the Trump Accounts program.

Supply Vs. Sellers

Eligibility does not force anyone to sell. The first major unlock on Aug. 6 freed 911.5 million shares, and the stock rallied 6% on the day. 

Still, the added supply is likely to keep volatility elevated even without heavy selling. RIT Capital Partners, a longtime SpaceX backer, sees the same dynamic.

“We continue to expect some near-term volatility in SpaceX as our staggered lock-up unwinds through the end of the year,” the firm wrote in an investor update, per Reuters. 

SPCX Price Action

SpaceX stock has swung hard since its debut. Shares hit a closing high of $201.80 on June 16, then slid to a record low over the summer. 

SPCX Stock Price Action: SpaceX closed Wednesday down 4.11% at $148.36, per Benzinga Pro market data. The stock sits about 10% above its IPO price but roughly 34% below its 52-week high of $225.64. Shares were little changed in premarket trading Thursday at $148.29.

Photo: Shutterstock