SpaceX lockup calendar
Updated from live prices and SEC filings
The next SpaceX lockup release is Thursday 22 Oct 2026: up to 1.3 billion shares become free to sell (the second full trading day after Q3 results). The main 180-day lock-up ends on 8 December 2026, and Elon Musk cannot sell before 14 Jun 2027, after a 366-day lock-up.
Most SpaceX shares were not sold in the IPO. They belong to employees, early investors and Elon Musk, who agreed not to sell for a set period. Instead of releasing everything on one date, SpaceX's lock-up frees the shares in stages, some on fixed days counted from the IPO pricing on 11 June 2026 and some two trading days after quarterly results. This page lists every release with its date and share count, taken from the IPO prospectus.
4 days to the next release. SPCX last traded at $146.03, up 8.2% on the $135 IPO price, valuing SpaceX at about $1.98T. Live SPCX price.
Main lock-up: employees and pre-IPO investors
This 180-day lock-up covers most employees and early investors. Each release lets holders sell up to the stated share of what they held; percentages are of each holder's locked shares, so the share counts are maximums.
| Date | Release | Shares, up to | Share of pool | Status | SPCX on the day |
|---|---|---|---|---|---|
| 6 Aug 2026 | Second full trading day after Q2 results (4 Aug) | 911.5 million | 20% | Released | +6% |
| 20 Aug 2026 | Day 70 | 319 million | 7% | Released | About -4% |
| 9 Sept 2026 | Day 90 | 319 million | 7% | Released | About -4% |
| 24 Sept 2026 | Day 105 | 328.4 million | 7% | Released | -0.2% |
| 9 Oct 2026 | Day 120 | 328.4 million | 7% | Released | +1% |
| 22 Oct 2026 | Second full trading day after Q3 results | 1.3 billion | 28% | Upcoming | - |
| 24 Oct 2026 (trades 26 Oct) | Day 135 | 328.4 million | 7% | Upcoming | - |
| 8 Dec 2026 | Day 180: lock-up expires | About 798 million | Remaining 17% | Upcoming | - |
- On 6 August a price-based bonus could have released a further 10%, if SPCX had closed at $175.50 or more (30% above the IPO price) on five of the ten trading days to 4 August. It did not, so those shares stayed locked.
- On 10 September, a separate block of up to 59.1 million shares held by affiliates also became free. Affiliates sell under SEC Rule 144 volume limits, so these shares can only reach the market gradually.
- SpaceX confirmed on 16 October that it will post Q3 results after the market closes on Tuesday 20 Oct 2026. 21 Oct 2026 is the first full trading day after the release, so the Q3 shares become free at the start of Thursday 22 Oct 2026, before the day-135 release.
- Shares bought in the IPO through the directed share programme (up to 5% of the offering, reserved for employees and people chosen by SpaceX) were never locked up.
Extended lock-up: Musk and the largest holders
Elon Musk and a group of large shareholders, together holding about 7.8 billion shares (more than 63% of the shares outstanding before the IPO), agreed to stricter terms that run beyond December. Musk himself gets no early release at all.
| Date | Trigger | What is released |
|---|---|---|
| Depends on results date | Second full trading day after Q4 2026 results | 20% of the extended group's shares |
| 18 Mar 2027 | Day 280 | A further 10% |
| Depends on results date | Second full trading day after Q1 2027 results | A further 20% |
| 17 May 2027 | Day 340 | A further 10% |
| 12 Jun 2027 (trades 14 Jun) | Day 366 | A further 20%, and Elon Musk's own lock-up ends |
| Depends on results date | Second full trading day after Q2 2027 results | The rest of the extended group's shares |
Musk's lock-up ends after the close of trading on day 366, 12 Jun 2027, so the first day he could sell is 14 Jun 2027. He holds his stake mostly in ten-vote Class B shares; any Class B shares sold to outside investors convert into one-vote Class A shares.
Insider selling since the first release
Directors and officers must report sales on Form 4 within two business days, and usually file a Form 144 notice beforehand. These are the filings for SpaceX since 6 August:
| Date | Filing | Insider | Value |
|---|---|---|---|
| 24 Sept 2026 | Form 4 (sale) | Shotwell Gwynne, President and COO | $52.5M |
| 22 Sept 2026 | Form 144 (notice of planned sale) | See filing | - |
Employees who are not officers and venture investors below 10% do not file Form 4s, so most lock-up selling never appears by name. Volume on release days is the better guide to how much stock is changing hands.
Why lock-up releases matter
A release adds shares that can be sold, and the stock often drifts lower in the days before a large one as traders position for extra supply. What actually happens depends on how many holders choose to sell, which is why SPCX has risen on some release days and fallen on others. The Q3 tranche is the largest of 2026, more than four times the size of the day-90 release, and the 8 December expiry frees the rest of the main pool.
For context: SpaceX has about 13.6 billion shares outstanding, so the main lock-up pool is roughly a third of the company, while the extended group, led by Musk, holds most of the rest.
Frequently asked questions
When does the SpaceX lockup expire?
The main 180-day lock-up for employees and most pre-IPO investors ends on 8 December 2026. A group of large holders and Elon Musk are under a longer lock-up that runs into mid-2027.
How many SpaceX shares unlock after Q3 earnings?
Up to 1.3 billion shares, 28% of the shares under the main lock-up, become free to sell at the start of the second full trading day after SpaceX reports third-quarter results. SpaceX reports Q3 results after the close on 20 Oct 2026, so the release is on 22 Oct 2026.
When can Elon Musk sell SpaceX stock?
Not before 14 Jun 2027. Musk's lock-up lasts 366 days from the IPO pricing on 11 June 2026, with no early release of any kind. Day 366 is 12 Jun 2027, a Saturday, so the first trading day he could sell is 14 Jun 2027.
Does a lockup expiry mean insiders will sell?
No. An unlock gives holders permission to sell, not an obligation. Many employees and investors keep their shares, and sales by directors and officers show up afterwards in Form 4 filings, often after a Form 144 notice.
What happened to SPCX stock on past unlock days?
Moves were mixed: up about 6% on the first release on 6 August, down about 4% on 20 August and 9 September, roughly flat on 24 September and up about 1% on 9 October. Across the first six releases the stock rose about 50%, from around $108 before the first one.
Sources
- SpaceX IPO prospectus (Form 424B4), SEC EDGAR, 12 June 2026
- SpaceX: Third quarter 2026 results date (16 October 2026)
- CNBC: SpaceX sets earnings date, triggering first big share unlock
- FinanceFeeds: SpaceX lock-up schedule, when pre-IPO holders can sell
- The Motley Fool: SpaceX stock through six insider share unlocks
- SpaceX Form 4 filings, SEC EDGAR
Release dates and share counts are from the IPO prospectus as reported by the sources above; share counts are maximums. Live figures and filings as of 18 Oct 2026, refreshed whenever the site updates. Orbit Alpha is information, not investment advice.
Download this data
Every SpaceX IPO lock-up release from the June 2026 prospectus: date, first trading day, trigger, maximum shares released and share of the main lock-up pool. Free to use with a link back: CSV ยท JSON. Cite as: Orbit Alpha, “SpaceX (SPCX) lock-up release schedule”, orbitalpha.cloud/spacex-stock/lockup-calendar, updated 18 Oct 2026.
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