SpaceX's 911.5 Million Share Unlock Tests a Staggered Lockup Design

911.5 million SpaceX insider shares became sellable August 6 under a phased 10-month lockup (restricting insider sales post-IPO), not the usual 180-day cliff. Another 455.8 million unlock only if shares hold above $175.50 for five of 10 trading days — a level untested. The stock sat 49% below its June high and under the $135 IPO price.