When does the SpaceX lock-up end? Every SPCX unlock date, and what the stock did each time

SpaceX’s lock-up does not end on one date. Under the company’s IPO prospectus, the shares that employees and pre-IPO investors could not sell are released in stages: two large tranches tied to earnings reports, a run of smaller fixed-date tranches, a final standard release on Dec. 8, 2026, and Elon Musk’s own block in June 2027.

That matters because the public float started small. SpaceX sold roughly 640 million shares at $135 in its June IPO, less than 5% of the company, while billions of shares stayed locked. Each release adds holders who are allowed to sell. Below is every date, the share count, and how SPCX actually traded on each one, updated daily from our market data.

The SpaceX lock-up schedule, date by date

The table lists each release in the prospectus. Share counts are the most that become eligible on that date, not shares that were sold. For dates that have passed, the last column shows SPCX’s move that day, from the previous close to that day’s close.

Source: SpaceX prospectus filed with the SEC in June 2026; share counts are approximate. Price moves are close-to-close on the first trading day of each release.

SpaceX lock-up releases, from the IPO prospectus (SEC Form 424B4):

Why SpaceX staggered its lock-up

A lock-up is an agreement, signed before an IPO, in which insiders and early investors promise not to sell for a set period. The classic version lasts 180 days and ends all at once, which can put a large wave of potential selling on a single day. SpaceX split its release into pieces.

The two biggest pieces are tied to earnings. The first 20% became eligible two full trading days after the first quarterly report, and about 28% two full trading days after the third-quarter report, so holders get fresh numbers before they can sell. In between, roughly 7% at a time unlocked on fixed dates. A bonus tranche that would have opened early if the stock closed at or above $175.50, 30% above the IPO price, never triggered; those shares roll into the Dec. 8 release.

Company affiliates face an extra layer even after their lock-up ends: under SEC Rule 144 they can only sell limited amounts over time, and they must file a notice before selling.

How the stock handled each unlock

The first and largest release so far went better than many warnings suggested. SpaceX reported its second quarter on Aug. 4; the stock fell about 14% the next day, and then rose about 6% on Aug. 6, the day 911.5 million shares became eligible. Selling pressure had been priced in before the unlock itself.

The smaller 7% tranches tell a similar story. In our price data, the day before a fixed-date tranche was a down day four times out of five, while the unlock day itself moved anywhere from a 4% drop to a small gain. That pattern fits decades of research on lock-up expirations: a 2001 study in the Journal of Finance by Laura Field and Gordon Hanka found an average drop of about 1.5% around the expiry and roughly 40% more trading volume, with much of the move arriving before the date.

Our read: the calendar is public, so traders position early, and the day an unlock lands is often less dramatic than the days before it. That is an observation about the past, not a prediction.

The chart below tracks SPCX's daily closing price from June 12, 2026 to Oct. 23, 2026. Over that stretch it is down 8.4%, from $160.95 to $147.49, with a high of $201.80 on June 16, 2026 and a low of $108.27 on Aug. 5, 2026. Each red circle marks a week in which company insiders sold shares on the open market (1 week in this period; bigger circles mean more money). There are no green diamonds: no insider bought on the open market in this window.

The largest open-market trades by Space Exploration Technologies Corp insiders in the last 90 days, from their SEC Form 4 filings:

Eligible to sell is not the same as sold

An unlock gives holders permission, not an obligation. Many employees keep their shares; some funds sell gradually; others wait for a better price. What the public can see are the filings: directors and officers must report sales on SEC Form 4 within two business days, and the largest of those trades are listed above.

Ownership by large funds also shifts as shares free up. The latest SEC Form 13F filings show which institutions hold SPCX and whether they added or cut last quarter.

The largest reported holders of SPCX in SEC Form 13F filings (Q2 2026):

What comes next

After the third-quarter tranche, the next fixed-date release falls on Saturday, Oct. 24, so it first affects trading on Monday, Oct. 26. The rest of the standard lock-up ends on Dec. 8, 2026. Two smaller releases for investors with extended lock-ups follow in March and May 2027.

The largest single date is still ahead. Elon Musk and core insiders are locked for 366 days, until June 12, 2027, which falls on a Saturday, so it reaches the market on Monday, June 14. That block, about 6.4 billion shares, dwarfs everything released so far. The prospectus also releases about 352 million more shares two full trading days after each of the next quarterly reports, so each future earnings date doubles as an unlock date.

Lock-up dates can change if the company amends the agreements, so check SpaceX’s latest SEC filings before relying on any single date. This is analysis, not investment advice.

→ Will the SpaceX lock-up flood the market?

→ Will Elon Musk sell SpaceX shares in 2027?

→ Is SPCX stock a buy right now?

→ Live SPCX insider trades, ownership and filings

What would change the picture for SPCX

These are the specific events and levels to watch. None of them is a prediction.

• An open-market purchase by an insider at Space Exploration Technologies Corp. There has been none in 90 days; Form 4 filings would show one within two business days of the trade.
• Price levels: a close above $201.8 would be a new 52-week high, 36.8% above the latest close of $147.49; a close below $108.27 would be a new 52-week low, 26.6% below it.
• New shares: dilution risk is moderate now. A new shelf registration (S-3) or a prospectus supplement (424B) for an offering would raise it.

How SPCX compares with its peers

Over the past month SPCX ranks 1 of 2 in this group (-0.4%); the best was SPCX (-0.4%) and the weakest TSLA (-1.5%).

A dash in the P/E column means the company lost money over the last 12 months, so it has no P/E.

Questions people also ask

When does the SpaceX lock-up end?

In stages. The standard lock-up for employees and most pre-IPO investors ends on Dec. 8, 2026, after tranches in August, September and October. Elon Musk and core insiders stay locked until June 12, 2027 (first trading day June 14).

How many SpaceX shares unlock in total?

Several billion. The standard lock-up covers roughly 4.5 billion shares released in tranches through Dec. 8, 2026, and the founder block that ends in June 2027 is about 6.4 billion shares, against an IPO float of about 640 million.

When can Elon Musk sell SpaceX shares?

Not before June 12, 2027, under the lock-up described in the IPO prospectus, which runs 366 days from the June 2026 IPO. As a top insider he would also be subject to SEC reporting and Rule 144 limits after that.

Do lock-up expirations make a stock fall?

Often a little, but not always on the day itself. Academic research found an average drop of about 1.5% around lock-up expiries, and SPCX rose about 6% on its biggest unlock so far, on Aug. 6, after falling the day before.

What is SPCX's 52-week high and low?

Over the past year SPCX closed as high as $201.8 and as low as $108.27. At $147.49 (Oct. 23, 2026) it is down 26.9% from the high and 36.2% above the low. More →

Are SPCX insiders buying or selling?

Insiders sold $52.5 million of SPCX on the open market in 90 days and bought none. Sales are often routine (taxes, diversification, pre-planned plans); purchases with their own money are the stronger signal. More →

Who is the largest shareholder of SPCX?

Among investment managers that file Form 13F, Alphabet Inc. reported the largest SPCX position ($94.2 billion). 1743 institutions reported holding SPCX for Q2 2026. More →

Dates to watch for SPCX

Insider trades can come any day: they must be filed on Form 4 within two business days.

Key terms on this page

P/E ratio

Price divided by the last 12 months of earnings per share. A P/E of 20 means investors pay $20 for each $1 of yearly profit. It is only defined when the company is profitable.

Form 4

The SEC form a company's officers, directors and 10% owners must file within two business days of buying or selling its stock.

Open-market trade

A purchase or sale on the exchange at the market price, paid with the insider's own money (code P or S on Form 4), as opposed to option exercises, grants or gifts.

Form 13F

A quarterly SEC report listing the U.S. stock holdings of every investment manager with more than $100 million. It is due 45 days after each quarter ends, so it shows positions with a delay.

Dilution

When a company issues new shares, each existing share owns a smaller piece of the company. Common sources: stock offerings, convertible debt and large stock-based pay.

52-week high / low

The highest and lowest daily closing price over the past year (about 252 trading days).

Where these numbers come from

Every number on this page is computed from the data when the page is refreshed (usually daily); nothing is typed in by hand. This is information, not investment advice.

• Price: daily closing prices through Oct. 23, 2026; changes use 5, 21 and 63 trading days; the 52-week range uses the last 252 closes.
• Insider trades: SEC Form 4 filings for the last 90 days, counting only open-market purchases (code P) and sales (code S); option exercises, grants, gifts and filings with data errors are left out.
• Earnings dates and estimates: a market-data calendar; reported vs expected EPS for the last 2 quarters.
• Valuation and growth: revenue, earnings, margins and share counts from the company's SEC filings (XBRL data, latest quarter available); P/E and price/sales use the latest close.
• Fund ownership: SEC Form 13F filings for Q2 2026.
• Dilution: share-count changes and offering-related SEC filings (shelf registrations, prospectus supplements, convertible notes) over two years, scored 0-100.