SpaceX is public. Now comes the part that's on you.

After two decades private — and years of twice-a-year tender windows — SpaceX listed on Nasdaq as SPCX in June 2026 in the largest IPO on record. For employees, the IPO answered "when can I sell?" and replaced it with three harder questions: what do I owe on the RSUs that just settled, when does my stock actually unlock, and how fast do I diversify?

What happened (as reported)

IPO June 12, 2026 — Nasdaq: SPCX. Priced at a reported $135 per share (~555.6M shares, ~$75B raised — the largest IPO on record), valuing the company above $2 trillion; shares reportedly closed their first session around $161, up ~19%.
The tender era is over. The company's reported pre-IPO rhythm — employee tender offers roughly twice a year — is history; liquidity now runs through the public market, on the lockup's schedule.
Markets move. Prices above are IPO-day reporting, not quotes — check live pricing, and verify every program detail against your own grant documents and company communications.

Educational only; figures are from public IPO coverage and may simplify holder-class differences. This site is not affiliated with or endorsed by SpaceX.

The lockup isn't one date — it's a schedule

Coverage of the S-1 describes a staggered lockup inside the traditional 180-day frame, with multiple chances at partial liquidity (reported; your eligible percentages and dates depend on your holder class and grant terms):

~20% of eligible shares sellable after the first (Q2) earnings release;
up to ~10% more, early, if the stock trades 30%+ above the IPO price on 5 of 10 consecutive sessions before that first earnings date;
time-based tranches — up to ~7% at each of roughly days 70, 90, 105, 120, and 135 post-IPO;
up to ~28% more after the Q3 earnings call;
full release at ~180 days.

That structure is a gift to planners and a trap for procrastinators: you get several windows in 2026 — but each is brief, and deciding in the window is how people freeze. Map your tranche calendar now and pre-commit what sells in each.

The tax bill already happened

Double-trigger RSUs settled at the IPO — that's ordinary income at settlement-day value, often a year's salary or more on one W-2. Sell-to-cover share withholding has been reported, and standard supplemental withholding routinely undershoots real marginal rates at these sizes. Confirm the gap and fund estimated payments now, not in April.
New vests keep settling at market prices each cycle — ongoing ordinary income, same withholding caution.
Options now have a public benchmark. Exercise timing, AMT exposure on ISOs, and exercise-and-sell math all change when the reference price updates by the second — rough out the after-tax number, then model it properly.

The decisions, in order

Reserve the tax first. Settlement income + under-withholding = the classic post-IPO surprise. Park the reserve; pay the quarterlies.
Pick your concentration target before the first window. Not "should I sell" but "what % of net worth should one volatile stock be?" Decide it while you can't trade; execute when you can.
Turn the unlock schedule into a glidepath. Pre-committed tranches per window (or a 10b5-1 plan if you're exposed to MNPI windows) beat in-window improvisation — and beat anchoring on the IPO pop.
Mind lots and clocks. Settled RSU basis = settlement-day price; long-term treatment starts then. Selling order across lots changes the bill.
Put proceeds into a plan — diversified portfolio, cash runway, charitable lots, and next year's estimates.

Just want to buy SPCX?

It's a public stock now — any brokerage works. This page is for holders: employees and early holders planning settlement taxes, lockup windows, and concentration. For companies still private, start with the tender-offer guide, OpenAI, or the Figma post-IPO playbook — a preview of your next 18 months.

Your unlock calendar is already running.

Get matched with a fee-only fiduciary who works post-IPO equity — settlement taxes, tranche-by-tranche glidepaths, 10b5-1 design, and option math. Free, no obligation.