Intuitive Machines director sells 96K shares
Rhea-AI Filing Summary
Intuitive Machines, Inc. (LUNR) reports that entities associated with director and ten percent owner Kamal Ghaffarian converted a total of 96,304 Common Units of Intuitive Machines, LLC into an equal number of Class A Common shares on September 8–9, 2026, with corresponding Class C shares automatically cancelled. On those dates, Ghaffarian Enterprises, LLC sold 96,304 Class A shares in multiple transactions at weighted-average prices around $15–$16 per share under a Rule 10b5-1 trading plan adopted on December 4, 2025. After these transactions, Dr. Ghaffarian holds 153,526 Class A shares directly and, through GM Enterprises, LLC and Ghaffarian Enterprises, LLC, interests in 2,241,121 and 31,883,115 Common Units and Class C shares, respectively, plus 3,494,768 Class A shares, while he disclaims beneficial ownership except to the extent of his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and sale activity reported; no spread calculated
Exercise and Sale
10 txns
Insider
Ghaffarian Kamal Seyed, Ghaffarian Enterprises, LLC, GM Enterprises, LLC
Role
Director, 10% Owner | 10% Owner | 10% Owner
Sold
96,304 shs ($1.48M)
Approx. gross sale proceeds
$1.48M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Common Units F1, F2, F3 | 1,698 | -- | -- |
| Exercise | Class A Common Stock F1, F2, F3 | 1,698 | -- | -- |
| Disposition | Class C Common Stock F1, F2, F3 | 1,698 | -- | -- |
| Sale | Class A Common Stock F4, F7, F2, F3 | 1,698 | $16.0029 | $27K |
| Exercise | Common Units F1, F2, F3 | 94,606 | -- | -- |
| Exercise | Class A Common Stock F1, F2, F3 | 94,606 | -- | -- |
| Disposition | Class C Common Stock F1, F2, F3 | 94,606 | -- | -- |
| Sale | Class A Common Stock F4, F5, F2, F3 | 93,105 | $15.3913 | $1.43M |
| Sale | Class A Common Stock F4, F6, F2, F3 | 1,501 | $15.7573 | $24K |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Units — 34,124,236 contracts (Indirect, See footnotes);
Class C Common Stock — 34,124,236 shares (Indirect, See footnotes);
Class A Common Stock — 3,494,768 shares (Indirect, See footnotes);
Class A Common Stock — 153,526 shares (Direct)
Footnotes (7)
- F1. The Common Units of Intuitive Machines, LLC may be redeemed for shares of the Issuer's Class A Common Stock on a one-to-one basis at the discretion of the holder. The Common Units do not expire. Upon the redemption of any Common Units, a number of shares of Class C Common Stock equal to the number of Common Units that are redeemed will automatically be cancelled for no consideration.
- F2. Following the transactions reported herein, represents (i) 2,241,121 Common Units and shares of Class C Common Stock held of record by GM Enterprises, LLC and (ii) (x) 31,883,115 Common Units and shares of Class C Common Stock and (y) 3,494,768 shares of Class A Common Stock held of record by Ghaffarian Enterprises, LLC.
- F3. Kamal Ghaffarian is the sole managing member of GM Enterprises, LLC and is the sole trustee of a revocable trust that is the sole member of Ghaffarian Enterprises, LLC. As a result, Dr. Ghaffarian may be deemed to share beneficial ownership of the securities reported herein, but disclaims beneficial ownership except to the extent of his pecuniary interest therein.
- F4. The sales reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Ghaffarian Enterprises, LLC on December 4, 2025.
- F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.75 to $15.7467, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.75 to $15.78, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- F7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $16.00 to $16.01, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
Key Figures
Class A shares sold: 96,304 shares
Common Units converted: 96,304 units
Weighted-average sale price 1: $15.3913 per share
+5 more
8 metrics
Class A shares sold
96,304 shares
Total Class A Common Stock sold by Ghaffarian Enterprises, LLC on September 8–9, 2026
Common Units converted
96,304 units
Common Units of Intuitive Machines, LLC redeemed into Class A Common Stock on September 8–9, 2026
Weighted-average sale price 1
$15.3913 per share
Weighted-average price for 93,105 Class A shares sold on September 8, 2026
Weighted-average sale price 2
$15.7573 per share
Weighted-average price for 1,501 Class A shares sold on September 8, 2026
Weighted-average sale price 3
$16.0029 per share
Weighted-average price for 1,698 Class A shares sold on September 9, 2026
Direct Class A holdings
153,526 shares
Class A Common Stock held directly by Kamal Ghaffarian after transactions
GM Enterprises Common Units and Class C
2,241,121 units/shares
Common Units and Class C Common Stock held of record by GM Enterprises, LLC after transactions
Ghaffarian Enterprises holdings
31,883,115 units/shares and 3,494,768 Class A shares
Common Units and Class C shares, and separate Class A shares, held by Ghaffarian Enterprises, LLC
Key Terms
Common Units, Class C Common Stock, Rule 10b5-1 plan, weighted average price, +1 more
5 terms
Common Units financial
"The Common Units of Intuitive Machines, LLC may be redeemed for shares"
Common units are the basic ownership stakes in a company, limited partnership, or trust that function like common stock: they give holders a claim on profits and often voting rights. Think of them as the ordinary seats at a table—the most directly affected by the business’s success or failure, so they typically offer higher upside but carry greater risk than preferred claims or creditors, which matters to investors evaluating potential return and safety.
Class C Common Stock financial
"shares of Class C Common Stock equal to the number of Common Units"
A class C common stock is a type of company share that usually represents ownership but often carries limited or no voting power compared with other share classes. For investors, that matters because it can affect influence over company decisions and sometimes the stock’s price or dividend priority — think of it as owning a ticket to the same event but in a section with less say in how the event is run.
Rule 10b5-1 plan regulatory
"sales reported herein were effected pursuant to a Rule 10b5-1 plan"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
weighted average price financial
"The price reported in Column 4 is a weighted average price"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
pecuniary interest financial
"disclaims beneficial ownership except to the extent of his pecuniary interest"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did LUNR director Kamal Ghaffarian report on this Form 4?
Entities associated with Kamal Ghaffarian reported converting 96,304 Common Units into Class A Common Stock and selling 96,304 Class A shares on September 8–9, 2026, along with cancellation of an equal number of Class C shares.
Were the LUNR insider sales made under a Rule 10b5-1 trading plan?
Yes. The filing states that the sales were effected pursuant to a Rule 10b5-1 plan adopted by Ghaffarian Enterprises, LLC on December 4, 2025, indicating the trades were pre-arranged under that plan.
What happens to Intuitive Machines LLC Common Units and Class C stock in these transactions?
Common Units of Intuitive Machines, LLC may be redeemed for Class A shares on a one-to-one basis and do not expire. When Common Units are redeemed, an equal number of Class C shares are automatically cancelled for no consideration.
What LUNR holdings does Kamal Ghaffarian report after these transactions?
After the reported transactions, Dr. Ghaffarian holds 153,526 Class A shares directly, plus indirect interests in 2,241,121 Common Units and Class C shares via GM Enterprises, LLC and in 31,883,115 Common Units and Class C shares and 3,494,768 Class A shares via Ghaffarian Enterprises, LLC.
Does Kamal Ghaffarian claim full beneficial ownership of the reported LUNR securities?
No. The filing states that Dr. Ghaffarian may be deemed to share beneficial ownership of the securities held by GM Enterprises, LLC and Ghaffarian Enterprises, LLC, but he disclaims beneficial ownership except to the extent of his pecuniary interest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
