SpaceX signed a binding commitment to lease GPU equipment from an Apollo-managed entity, with about $40B in expected principal payments

• SpaceX filed an 8-K on Oct 26 reporting a binding commitment letter, signed Oct 24, to enter into a master finance lease with an entity managed by Apollo Global Management.
• Under the planned lease, that entity buys GPU pods and related equipment and leases them to SpaceX in tranches, each on its own schedule of about 5 to 5.25 years. SpaceX expects principal payments across the schedules to total about $40B.
• The lease is subject to closing conditions and is expected to close before the end of 2026, with the lease schedules starting in the first half of 2027 as the GPUs are delivered.
• The filing reports no share issuance and no change to lockup terms. Lockup tranches, holder allocations, the unlock chart and release schedule are unchanged.

SpaceX GPU lease 8-K

Shares outstanding updated from 13.57B to 13.58B after SpaceX's Q3 quarterly report

• SpaceX filed its quarterly report (Form 10-Q) for the quarter ended Sep 30 on Oct 22. Its cover reports 8,246,541,218 Class A and 5,334,522,491 Class B shares outstanding as of Oct 15.
• This page now uses that count. It already includes the 391.0M Cursor merger shares, which the page previously added on top of the Jul 28 count from the Q2 report.
• Against the page's previous count, shares outstanding rose from 13.57B to 13.58B, up 8.2M or 0.06%, with Class B down 151.0M and Class A up 159.2M. A Class B share converts into one Class A share, which moves shares between classes without changing the total, and the report records 230M such conversions in the July to September quarter.
• Musk stays at 44.7% of shares outstanding and the IPO float at 4.7%, while the Institutional and VC estimate moves from 24.8% to 24.9%. As a share of the larger Class A count, Gracias goes from 6.0% to 5.6%, Founders Fund from 5.5% to 5.2% and Alphabet from 7.2% to 6.7%, with their share counts unchanged.
• Lockup tranches and unlock dates are unchanged.

SpaceX Q3 10-Q

SpaceX registered 23.6M Cursor-related shares held by current and former employees and service providers for resale

• SpaceX filed a registration statement (Form S-8) on Oct 22 for stock tied to its Cursor acquisition. It covers 71.1M shares that may be issued from stock options and restricted stock units SpaceX took over in the merger, plus 23.6M shares already issued.
• The 23.6M are registered for resale by current and former employees and other service providers, or their family members, listed as one group that includes 217 unnamed holders who each own less than 1% of Class A. They may sell under the registration, subject to any lock-up that applies to them and to a cap on how much each can sell in any three months.
• 14.5M of the 23.6M were originally issued as restricted stock under revest agreements, which, per the form filed with the S-8, cover shares received in the Cursor merger. Under that form, unvested shares cannot be transferred until they vest at the end of each three-month period after the Aug 14 closing. The Aug 14 entry below gives Feb 14, 2027 as the earliest the merger shares could be sold under the SEC's six-month holding rule. A sale registered on the S-8 does not have to wait for that date, though any lock-up or vesting restriction still applies.
• The filing does not say when the lock-up on the Cursor merger shares ends, so the Cursor group stays fully locked on this page and off the unlock chart.
• The filing itself issues no shares and changes no share count, holder group or unlock date on this page.

SpaceX Cursor S-8

Q3 unlock date confirmed for Oct 22, following Q3 results

• SpaceX reported Q3 results on Oct 20 and furnished them to the SEC in an 8-K accepted at 16:00:51 ET, 51 seconds after the market close.
• As with Q2, the lockup provides for release on the second full trading day following the results date, rather than on the results date itself.
• Because the results were reported after the Oct 20 close, the Q3 earnings-linked unlock of up to 1.3B shares (28% of the 180-day lockup pool) became effective on Oct 22. That date is now confirmed rather than estimated.
• The three remaining earnings-linked unlocks, from Q4 2026 through Q2 2027, remain estimated until SpaceX announces the relevant reporting dates.

SpaceX Q3 8-K

Gracias holding updated from 460.7M to 464.9M shares after a corrected filing

• On Sep 30, SpaceX board member Antonio Gracias filed a corrected version (Form 4/A) of the Sep 15 report on Valor investment funds transferring 42.8M SpaceX shares to their own investors.
• The correction adds about 4.3M shares the first report did not include. According to the filing, part of the transferred shares stayed with Gracias, held directly with family members, through AJG Growth Fund and through a family trust.
• The Gracias holding on this page goes from 460.7M to 464.9M shares. The 6.0% shown next to it stays the same.
• The filing reports no shares sold. The lockup schedule, total shares and unlock chart are unchanged.

Gracias Form 4/AGracias Form 4

President and COO Gwynne Shotwell reported the sale of 342,170 shares

• Gwynne Shotwell filed a Form 4 on Sep 24 for transactions dated Sep 22: 342,170 Class A shares acquired by exercising stock options, and the same number sold.
• These are the shares named in the Sep 22 Form 144, sold under the Rule 10b5-1 trading plan Shotwell adopted on Jun 23, 2026.
• Shotwell's direct holding after the sales is 2,472,035 Class A shares, the same as before the exercise.
• The same Form 4 also reports two option exercises dated Apr 18, 2026, before the IPO, for 213,310 Class A shares.
• Lockup tranches, shares outstanding, holder allocations, the unlock chart and release schedule are unchanged.

Shotwell Form 4Shotwell Form 144

President and COO Gwynne Shotwell filed notice of a proposed sale of 342,170 shares

• Gwynne Shotwell filed a Form 144 on Sep 22 for 342,170 Class A shares, acquired the same day by exercising stock options.
• The proposed sale is under a pre-arranged Rule 10b5-1 trading plan Shotwell adopted on Jun 23, 2026 for up to 585,605 shares, as disclosed in SpaceX's Q2 10-Q.
• Lockup tranches, shares outstanding, holder allocations, the unlock chart and release schedule are unchanged.

Shotwell Form 144SpaceX Q2 10-Q

Updated Gracias (Institutional & VC) from 503.4M to 460.7M Class A shares (6.7% → 6.0%)

• Updated Gracias (Institutional & VC) from 503.4M to 460.7M Class A shares (6.7% → 6.0%) following a 2026-09-15 Form 4 reporting a pro-rata distribution of 42,790,223 shares from Valor funds to their investors.
• Lockup tranches, shares outstanding, unlock chart and release schedule are unchanged.

Gracias Form 4

The Cursor merger added 391.0M Class A shares

• SpaceX closed its acquisition of Anysphere, the maker of Cursor, on Aug 14 and filed the closing report with the SEC the same day.
• Cursor equity converted into 389,289,254 SpaceX Class A shares, plus 1,752,426 shares for vested Cursor restricted stock units, so 391.0M in total.
• Those shares were issued without registration, which makes them restricted securities. They are on none of the 17 lockup tranches.
• No public filing states when they can be sold. The merger agreement confirms a lock-up exists, and bars the transfer agent from lifting the restriction while it runs, but leaves its length to a letter of transmittal that was not filed. Feb 14, 2027 is the earliest any of them could clear under the SEC's ordinary six-month holding rule.
• They are therefore shown as their own holder group under Allocations, fully locked, rather than folded into the pre-IPO investors. They are deliberately absent from the unlock schedule chart, which plots shares against release dates and has none to plot for them. The effect of that is unlocked supply topping out near 97.1% rather than 100%.
• Shares outstanding rose from 13.18B to 13.57B, an increase of 2.97%, so market cap at any given price rose by the same proportion.
• Every percentage of shares outstanding on this page moved with that denominator. Musk goes from 46.0% to 44.7%, Alphabet from 4.18% to 4.06%, the IPO float from 4.85% to 4.71%.
• The unlock tranches themselves did not change. The prospectus states them as share counts, and those counts are what this page renders.

SpaceX merger 8-K

Three more major-holder filings, including Alphabet's

• Alphabet, XXVI Holdings and Google LLC filed jointly on Aug 14, reporting the same 551,189,500 shares, held directly by Google LLC, as shared beneficial ownership.
• That answers the question left open in the Aug 7 entry below. The holding is beneficial ownership and not only investment discretion, and its absence from SpaceX's own table of holders above 5% is explained by that table being two months older.
• The Founders Fund entities and Peter Thiel filed on Aug 14, reporting 427,306,025 Class A shares in aggregate, 5.5% of the class, across 29 funds and holding entities. SpaceX's prospectus does not name them, so this page now cites the filing under Institutional and VC.
• Elon Musk filed on Aug 13, reporting 6,418,547,515 shares. That is the holding this page already states plus the 350.0M shares underlying his options, so no figure changed.
• His filing does add one detail. Of his Class B shares, 1,302,072,285 are restricted and vest only if performance conditions are met. That is close to a fifth of what his June 2027 lockup expiry releases, and it may not be vested when the lockup lifts.
• The 48.4% his filing reports is not comparable to the 44.7% shown here, because a major-holder filing measures against a different share count.

Alphabet 13GFounders Fund 13GMusk 13G

Alphabet disclosed its exact SpaceX holding for the first time

• Alphabet's quarterly holdings report to the SEC, filed Aug 7, reports 551,189,500 SpaceX Class A shares at a stated value of $94,176,237,970.
• Before this disclosure we derived the share count ourselves, by dividing the $94.1B carrying value in Alphabet's accounts by SpaceX's closing price.
• That made the figure an estimate, and the only number on this page that depended on a market price rather than on a filing. It no longer does.
• The estimate was 489,500 shares low, approximately 0.09%, so the effect on the allocation chart is immaterial.
• Alphabet holds 4.18% of shares outstanding, equal to 7.16% of the Class A common stock. That allocation is therefore no longer marked EST.
• One question remains unresolved. A holding of that size would ordinarily appear in SpaceX's own disclosure of major shareholders, and it does not.
• The likeliest explanation is that a quarterly holdings report discloses investment discretion while that table discloses beneficial ownership, which are separate tests under different rules. No filing confirms this, so we state it as an explanation rather than as a fact.

Alphabet Q2 13F-HRAlphabet Q2 10-Q

First unlock date confirmed for Aug 6, following Q2 results

• SpaceX reported Q2 results on Aug 4 and filed them with the SEC at 16:01 ET, one minute after the market close.
• The lockup provides for release on the second full trading day following the results date, rather than on the results date itself.
• Because the results were reported after the Aug 4 close, the first earnings-linked unlock became effective on Aug 6. That date is now confirmed rather than estimated.
• The four subsequent earnings-linked unlocks, from Q3 2026 through Q2 2027, remain estimated until SpaceX announces the relevant reporting dates.

SpaceX Q2 8-KSpaceX Q2 10-Q

The conditional early-unlock test was not satisfied

• Up to 455.8M shares, equal to 10% of the shares subject to the 180-day lockup, were eligible for early release.
• The condition required SPCX to close at $175.50 or higher, which is 30% above the $135 IPO price, on at least 5 of the 10 trading days ending on the results date.
• That condition was not met.
• The subsequent outcome is not reported in the prospectus itself, which only defines the release condition. We determine whether it was satisfied using the press coverage cited under Sources & Verification.
• Those shares therefore remain subject to their original release dates and are no longer shown as pending an early unlock.
• This also resolves which of the two release scenarios described in the filing applies. Because the early-release condition was not satisfied, the 180-day expiry releases the larger stated amount: 797.6M shares.

424B4 prospectus

The IPO grew to 638.9M shares after the underwriters exercised their option in full

• The underwriters exercised their option to purchase an additional 83.3M shares in full.
• That increased the offering from 555,555,555 to 638,888,888 shares and gross proceeds from $75.0B to $86.3B, with approximately $85.7B in net proceeds to SpaceX after underwriting discounts and expenses.
• The offering therefore represented 4.85% of shares outstanding.
• This matters when interpreting the prospectus because its post-offering ownership and capitalization tables assume the underwriters did not exercise the option.
• Once the option was exercised on Jun 15, figures based on that assumption no longer reflected the final post-offering capital structure. The subsequent filing therefore becomes the authoritative source for those figures.

SpaceX Q2 10-Q

The final prospectus became our authoritative source

• This page went live on Jun 10, 2026, one day before the final prospectus was dated Jun 11, so the initial data was based on the earlier draft registration statement and press coverage.
• The final prospectus superseded those estimates with the complete 17-row unlock table.
• It also specified the second-trading-day rule for earnings-linked releases, established the prospectus date as the reference date for day-based unlock calculations, and provided Musk's exact allocation between Class A and Class B shares.
• Unlock data published on this page before Jun 11, 2026 should therefore be treated as estimates.

424B4 prospectus