Ghaffarian entity sells 110,976 Intuitive Machines (LUNR) shares under plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Intuitive Machines, Inc. reported that entities associated with director and 10% owner Dr. Kamal Ghaffarian redeemed 110,976 Common Units into the same number of Class A Common Stock and sold 110,976 Class A shares in the open market at a weighted average price of $15.6399 on July 13, 2026 under a Rule 10b5-1 trading plan. Following these transactions, Ghaffarian-related entities hold 3,494,768 shares of Class A Common Stock and an aggregate of 34,677,200 Common Units and shares of Class C Common Stock, while Dr. Ghaffarian also holds 153,526 Class A shares directly.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 110,976 shares ($1,735,654)
Net Sell
5 txns
Insider
Ghaffarian Kamal Seyed, Ghaffarian Enterprises, LLC, GM Enterprises, LLC
Role
Director, 10% Owner | 10% Owner | 10% Owner
Sold
110,976 shs ($1.74M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Common Units | 110,976 | -- | -- |
| Exercise | Class A Common Stock | 110,976 | -- | -- |
| Disposition | Class C Common Stock | 110,976 | -- | -- |
| Sale | Class A Common Stock | 110,976 | $15.6399 | $1.74M |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Units — 34,677,200 shares (Indirect, See footnotes);
Class A Common Stock — 3,605,744 shares (Indirect, See footnotes);
Class C Common Stock — 34,677,200 shares (Indirect, See footnotes);
Class A Common Stock — 153,526 shares (Direct)
Footnotes (1)
- 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. 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) 32,436,079 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. 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. The sales reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Ghaffarian Enterprises, LLC on December 4, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.03 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
Shares sold: 110,976 shares
Weighted average sale price: $15.6399 per share
Indirect Class A holdings after sale: 3,494,768 shares
+4 more
7 metrics
Shares sold
110,976 shares
Class A Common Stock sold in open-market transaction on July 13, 2026
Weighted average sale price
$15.6399 per share
Weighted average for sales within a $15.03–$16.01 price range
Indirect Class A holdings after sale
3,494,768 shares
Class A Common Stock held by Ghaffarian Enterprises, LLC after reported transactions
Direct Class A holdings
153,526 shares
Class A Common Stock held directly by Dr. Kamal Ghaffarian after the transactions
GM Enterprises Common Units/Class C
2,241,121 units/shares
Common Units and shares of Class C Common Stock held by GM Enterprises, LLC
Ghaffarian Enterprises Common Units/Class C
32,436,079 units/shares
Common Units and shares of Class C Common Stock held by Ghaffarian Enterprises, LLC
Rule 10b5-1 plan adoption date
December 4, 2025
Date Ghaffarian Enterprises, LLC adopted the trading plan covering the reported sales
Key Terms
Common Units, Class C Common Stock, Rule 10b5-1 plan, beneficial ownership, +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
"a number of 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
"The sales reported herein were effected pursuant to a Rule 10b5-1 plan adopted"
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.
beneficial ownership financial
"may be deemed to share beneficial ownership of the securities reported herein"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership except to the extent of his pecuniary interest therein"
FAQ
What insider transactions did Intuitive Machines (LUNR) disclose for July 13, 2026?
Entities associated with director Dr. Kamal Ghaffarian redeemed 110,976 Common Units into the same number of Class A shares, then sold 110,976 Class A shares in open-market transactions at a weighted average price of $15.6399 under a Rule 10b5-1 plan.
Were the Intuitive Machines (LUNR) insider sales made under a Rule 10b5-1 plan?
Yes. A footnote explains the sales were effected pursuant to a Rule 10b5-1 plan adopted by Ghaffarian Enterprises, LLC on December 4, 2025. Such plans pre-schedule trades, indicating the timing was established in advance rather than decided opportunistically.
Who is considered the beneficial owner in this Intuitive Machines (LUNR) Form 4?
The securities are held by GM Enterprises, LLC and Ghaffarian Enterprises, LLC. Dr. Kamal Ghaffarian controls these entities and may be deemed to share beneficial ownership, but he disclaims beneficial ownership except to the extent of his pecuniary interest.