Buried deep in the SpaceX S-1 (IPO) filing is a very unique lock-up release timeline that early employees can use to sell shares.
Instead of the standard 180-day lock-up period from most companies, SpaceX shares from early shareholders will release gradually over the following checkpoints:
After 180-days, all shares will be released.
· IPO JUNE 12, 2026 · NASDAQ
SpaceX Lock-Up Release Schedule
Cumulative share unlock windows · IPO June 12, 2026 confirmed · Day-count dates confirmed · Q2 earnings Aug 4, 2026 confirmed · Q2 hurdle not reached · Q3 earnings date estimated
| Date | Release event | Incremental | Cumulative unlock |
|---|---|---|---|
| Aug 4, 2026Q2 EARNINGS | Q2 earnings +2 daysBase release | +20% | 20% |
| Aug 4, 2026Q2 EARNINGS | Q2 earnings +2 daysPerformance early release≥30% above IPO price for 5 of 10 consecutive trading days ending on/including Q2 earnings date✗ Hurdle not reached | +10% | 20% |
| Aug 20, 2026 | 70 days post-offering | +7% | 27% |
| Sep 9, 2026 | 90 days post-offering | +7% | 34% |
| Sep 24, 2026 | 105 days post-offering | +7% | 41% |
| Oct 9, 2026 | 120 days post-offering | +7% | 48% |
| Oct 24, 2026 | 135 days post-offering | +7% | 55% |
| Est. Nov 2026EARNINGS DATE TBD | Q3 earnings +2 days | +28% | 83% |
| Dec 9, 2026 | 180 days post-offeringFull unlock · All remaining 180-day shares | All remaining | 100% |
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366-Day Lock-Up holders: The S-1 specifies that only __% of 366-day lock-up shares qualify for the early release windows above. The remaining shares in that bucket are locked until June 13, 2027 (366 days post-offering). The exact percentage was not disclosed in the draft S-1 — confirm in the final prospectus before advising clients with 366-day restricted shares.
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The only exception is for certain early shareholders who may be subject to a separate 366-day release program (not outlined yet in S-1).