Space Exploration (SPCX) CFO discloses trust, RSU and option holdings
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
SPACE EXPLORATION TECHNOLOGIES CORP Chief Financial Officer Bret W. Johnsen has filed an initial Form 3 detailing his equity interests in the company. The filing shows indirect holdings of 3,867,560 shares of Class A Common Stock through the Bret and Catherine Johnsen Family Trust and 2,518,540 shares through B & C Johnsen Holdings LLC.
In addition to these indirect positions, he holds 71,445 restricted stock units tied to Class A Common Stock and multiple stock option grants with different exercise prices and long-dated expirations. One option covers 1,500,000 underlying shares at an exercise price of $8.3998 per share expiring on April 20, 2031, while another covers 586,850 underlying shares at $4.4000 per share expiring on April 24, 2030.
Footnotes indicate that some options are already fully vested, while others are partially vested with remaining portions scheduled to vest in monthly or periodic installments through various dates between 2026 and 2031, all conditioned on his continued employment with the company.
Positive
- None.
Negative
- None.
Insider Trade Summary
11 transactions reported
Mixed
11 txns
Insider
Johnsen Bret W
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Option to Buy (Class A Common Stock) | -- | -- | -- |
| holding | Option to Buy (Class A Common Stock) | -- | -- | -- |
| holding | Option to Buy (Class A Common Stock) | -- | -- | -- |
| holding | Option to Buy (Class A Common Stock) | -- | -- | -- |
| holding | Option to Buy (Class A Common Stock) | -- | -- | -- |
| holding | Option to Buy (Class A Common Stock) | -- | -- | -- |
| holding | Option to Buy (Class A Common Stock) | -- | -- | -- |
| holding | Option to Buy (Class A Common Stock) | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Option to Buy (Class A Common Stock) — 586,850 shares (Direct, null);
Restricted Stock Units — 71,445 shares (Direct, null);
Class A Common Stock — 2,518,540 shares (Indirect, By B & C Johnsen Holdings LLC)
Footnotes (1)
- The options are fully vested and exercisable. The options are vested as to 1,238,400 shares and 261,600 shares will vest in approximately equal monthly installments through November 15, 2026, subject to the Reporting Person's continued employment with the Issuer. The options are vested as to 192,860 shares and 321,430 shares will vest in approximately equal monthly installments through November 15, 2028, subject to the Reporting Person's continued employment with the Issuer. The options are vested as to 46,390 shares and 324,745 shares will vest in approximately equal monthly installments through November 15, 2029, subject to the Reporting Person's continued employment with the Issuer. The options vest as follows: (i) 129,730 vest in approximately equal monthly installments from January 1, 2027 through December 1, 2027 and (ii) 194,595 vest in approximately equal monthly installments from January 1, 2028 through December 1, 2030, in each case, subject to the Reporting Person's continued employment with the Issuer. The options vest as to 20% on September 30, 2027 and thereafter in approximately equal monthly installments through September 30, 2031, subject to the Reporting Person's continued employment with the Issuer. The options vest as to 20% on November 15, 2027 and thereafter in approximately equal monthly installments through November 15, 2031, subject to the Reporting Person's continued employment with the Issuer. The restricted stock units vest as to 30% on November 15, 2027 and thereafter in equal six-month installments through May 15, 2031, subject to the Reporting Person's continued employment with the Issuer.
Key Figures
Family trust Class A shares: 3,867,560 shares
LLC Class A shares: 2,518,540 shares
Restricted stock units: 71,445 units
+5 more
8 metrics
Family trust Class A shares
3,867,560 shares
Indirect Class A Common Stock via Bret and Catherine Johnsen Family Trust
LLC Class A shares
2,518,540 shares
Indirect Class A Common Stock via B & C Johnsen Holdings LLC
Restricted stock units
71,445 units
RSUs tied to Class A Common Stock, direct ownership
Option position at $8.3998
1,500,000 underlying shares
Option to Buy Class A Common Stock, exercise price $8.3998, expires April 20, 2031
Option position at $4.4000
586,850 underlying shares
Option to Buy Class A Common Stock, exercise price $4.4000, expires April 24, 2030
High-strike option at $105.318
356,295 underlying shares
Option to Buy Class A Common Stock, exercise price $105.3180, expires March 1, 2036
Vested option tranche
1,238,400 shares
Footnote states options vested as to 1,238,400 shares
Future vesting tranche
261,600 shares
Footnote states 261,600 shares vest in monthly installments through November 15, 2026
Key Terms
Restricted Stock Units, Option to Buy (Class A Common Stock), indirect, vest, +1 more
5 terms
Restricted Stock Units financial
"security_title: "Restricted Stock Units" tied to Class A Common Stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Option to Buy (Class A Common Stock) financial
"security_title: "Option to Buy (Class A Common Stock)" with various exercise prices"
indirect financial
"ownership_type: "indirect" for shares held via trust and LLC entities"
vest financial
"footnotes describe options that "vest" in monthly or periodic installments"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
Class A Common Stock financial
"underlying_security_title: "Class A Common Stock" for RSUs and options"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
FAQ
What restricted stock units does the SPCX CFO report on this Form 3?
The CFO reports 71,445 restricted stock units linked to SPCX Class A Common Stock. Footnotes state these units vest over time, beginning with a 30% tranche on November 15, 2027, then in equal six-month installments through May 15, 2031, subject to continued employment.
What are the key stock option positions disclosed by SPCX CFO Bret Johnsen?
Key options include grants over 1,500,000 underlying SPCX Class A shares at an $8.3998 exercise price expiring April 20, 2031, and 586,850 underlying shares at $4.4000 expiring April 24, 2030, along with several other option blocks at higher exercise prices and later expirations.
How do Bret Johnsen’s SPCX stock options vest according to the Form 3 footnotes?
Footnotes explain that some options are fully vested, while others are partly vested with remaining shares vesting in monthly installments. Specific schedules extend through dates such as November 15, 2026, November 15, 2028, November 15, 2029, and into 2030 and 2031, contingent on continued employment.
Does the SPCX Form 3 indicate any recent buying or selling by the CFO?
The Form 3 functions as an initial ownership report rather than a trade notice. The transactions are coded as holdings, with no buy or sell codes, indicating disclosure of existing indirect shares, restricted stock units, and option positions instead of new purchases or sales.