Elon Musk (SPCX) discloses massive SpaceX stake and 350M-share option
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
SPACE EXPLORATION TECHNOLOGIES CORP filed an initial ownership report for Elon Musk, who is listed as CEO, CTO, Chairman and a more than 10% owner. The filing shows large indirect holdings of Class A and Class B Common Stock through entities such as the Elon Musk Revocable Trust, EM 2024 GRAT-A and other trusts.
The report also discloses an option to buy 350,000,000 shares of Class B Common Stock at an exercise price of $8.3998 per share, expiring on February 11, 2031, which is fully vested and exercisable. Multiple series of preferred stock are held indirectly and, upon completion of the company’s initial public offering, each share of certain preferred series will automatically convert into 50 shares of either Class A or Class B Common Stock. Each share of Class B Common Stock is convertible at any time into one share of Class A Common Stock and will convert automatically upon sale, according to the disclosed terms.
Positive
- None.
Negative
- None.
Insider Trade Summary
11 transactions reported
Mixed
11 txns
Insider
Musk Elon
Role
CEO, CTO & Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Series A Preferred Stock | -- | -- | -- |
| holding | Series A Preferred Stock | -- | -- | -- |
| holding | Series B Preferred Stock | -- | -- | -- |
| holding | Series C Preferred Stock | -- | -- | -- |
| holding | Series H Preferred Stock | -- | -- | -- |
| holding | Series I Preferred Stock | -- | -- | -- |
| holding | Option to Buy (Class B Common Stock) | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 663,806,095 shares (Indirect, By Elon Musk Revocable Trust);
Series A Preferred Stock — 57,494,561 shares (Indirect, By Elon Musk Revocable Trust);
Series B Preferred Stock — 5,002,400 shares (Indirect, By Elon Musk Revocable Trust);
Series C Preferred Stock — 5,652,297 shares (Indirect, By Elon Musk Revocable Trust);
Series H Preferred Stock — 370,370 shares (Indirect, By Elon Musk Revocable Trust);
Series I Preferred Stock — 295,858 shares (Indirect, By Elon Musk Revocable Trust);
Option to Buy (Class B Common Stock) — 350,000,000 shares (Direct, null);
Class A Common Stock — 526,165,420 shares (Indirect, By Elon Musk Revocable Trust)
Footnotes (1)
- Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of the Issuer's Class A Common Stock and has no expiration date. In addition, subject to certain exceptions, each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any sale of such share of Class B Common Stock or any legal or beneficial interest in such share. Upon the completion of the Issuer's initial public offering, each share of Series A Preferred Stock and Series B Preferred Stock will automatically convert into 50 shares of the Issuer's Class B Common Stock. The Series A Preferred Stock and Series B Preferred Stock have no expiration date. Upon the completion of the Issuer's initial public offering, each share of Series C Preferred Stock, Series H Preferred Stock, and Series I Preferred Stock will automatically convert into 50 shares of the Issuer's Class A Common Stock. The Series C Preferred Stock, Series H Preferred Stock, and Series I Preferred Stock have no expiration date. The options are fully vested and exercisable.
Key Figures
Option size: 350,000,000 shares
Option exercise price: $8.3998/share
Option expiration: February 11, 2031
+3 more
6 metrics
Option size
350,000,000 shares
Option to buy Class B Common Stock
Option exercise price
$8.3998/share
Option to buy Class B Common Stock
Option expiration
February 11, 2031
Option to buy Class B Common Stock
Class A via EM 2024 GRAT-A
7,402,770 shares
Class A Common Stock, indirect ownership
Class A via Revocable Trust
526,165,420 shares
Class A Common Stock, indirect ownership
Class B via Revocable Trust
663,806,095 shares
Class B Common Stock, indirect ownership
Key Terms
Class B Common Stock, Class A Common Stock, Series A Preferred Stock, Series C Preferred Stock, +2 more
6 terms
Class B Common Stock financial
"Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of the Issuer's Class A Common Stock"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A Common Stock financial
"Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of the Issuer's Class A Common Stock"
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.
Series A Preferred Stock financial
"Upon the completion of the Issuer's initial public offering, each share of Series A Preferred Stock and Series B Preferred Stock will automatically convert into 50 shares of the Issuer's Class B Common Stock"
Series A preferred stock is a type of ownership share in a company that gives investors certain advantages, such as priority in receiving profits or getting their money back if the company is sold or goes bankrupt. It is often issued during early funding stages to attract investors by offering more security than common shares. This stock matters to investors because it provides a safer way to invest while still holding potential for future gains.
Series C Preferred Stock financial
"Upon the completion of the Issuer's initial public offering, each share of Series C Preferred Stock, Series H Preferred Stock, and Series I Preferred Stock will automatically convert into 50 shares of the Issuer's Class A Common Stock"
A Series C preferred stock is a specific class of ownership issued during a later funding round that gives holders priority over common shareholders for getting paid and receiving dividends, like having a reserved lane in traffic when money is distributed. It often includes agreed rights such as a fixed payout, protection against dilution, and the option to convert into common shares, so investors treat it as a mix of safety and upside potential.
initial public offering financial
"Upon the completion of the Issuer's initial public offering, each share of Series A Preferred Stock and Series B Preferred Stock will automatically convert"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
Grantor Retained Annuity Trust financial
"nature_of_ownership: By EM 2024 GRAT-A"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
FAQ
What does Elon Musk’s Form 3 filing show for SPCX?
The Form 3 shows Elon Musk’s initial ownership in SPACE EXPLORATION TECHNOLOGIES CORP, including large indirect holdings of Class A and Class B Common Stock through several trusts and an option to buy 350,000,000 Class B shares at $8.3998 per share.
How is Elon Musk’s ownership in SPCX held according to the Form 3?
Ownership is primarily indirect, held through entities including the Elon Musk Revocable Trust, EM 2024 GRAT-A, Mission Trust and the Musk 2017 Sprinkling Trust. These entities hold various classes of common and preferred stock that together represent Musk’s reported stake in the company.
What happens to SpaceX Class B Common Stock based on this filing’s terms?
Each share of Class B Common Stock is convertible at any time into one share of Class A Common Stock, with no expiration date. The filing also states Class B shares convert automatically into Class A upon any sale of the Class B share or its legal or beneficial interest.
How will SpaceX preferred stock held by Elon Musk’s trusts convert at the IPO?
The filing states that upon completion of the initial public offering, each share of Series A and Series B Preferred Stock will automatically convert into 50 shares of Class B Common Stock, and each share of Series C, Series H and Series I Preferred Stock will convert into 50 shares of Class A Common Stock.