Stocks: lock-up expiry

After an IPO, large shareholders cannot sell for a while — that is the lock-up. We read SEC filings and show when and how many shares reach the market — for stocks that have futures on the exchanges we track.

SPCX share lock-up

Full unlock calendar →

From the prospectus and SEC filings · checked 09/27/2026

Tradable

21.4%

2.9B of 13.6B shares

Locked

78.6%

10.7B shares

Next release

10/26, 13:30

328M shares · +11.3% to float · ≈ $53.8B

Founder's shares

6.4B

Elon Musk · from 06/14/2027

How the lock-up works

Pre-IPO shareholders receive their shares in steps of 7–28%; the last step is 12/08/2026.
Several large shareholders stay locked longer, in steps until the Q2 2027 results.
All of the founder's shares (Elon Musk, 6.4B) are locked for 366 days with no early release; they can be sold from 06/14/2027.
Steps tied to earnings unlock on the second full trading day after the results are published. Until the company schedules the report, the date is an estimate.
The early release of another 456M shares if the price stayed above $175.50 did not trigger; they unlock on 12/08/2026.
391M shares were issued to buy Cursor; their lock-up terms are not disclosed, and by law they cannot be sold before 02/14/2027.
Times are the New York market open (09:30 New York time).

All release steps

10/26/2026, 13:30scheduled
10/24/2026 is a weekend
180-day lock-up: day 135 · 7% of the pool
328M+11.3% to float
≈ 11/05/2026estimated date
180-day lock-up: after Q3 2026 results · 28% of the pool
1.3B+40.2% to float
12/08/2026, 14:30scheduled
180-day lock-up: day 180
798M+17.6% to float
≈ 02/11/2027estimated date
Extended lock-up: after Q4 2026 results · 20% of the pool
352M+6.6% to float
03/18/2027, 13:30scheduled
Extended lock-up: day 280 · 10% of the pool
176M+3.1% to float
≈ 05/06/2027estimated date
Extended lock-up: after Q1 2027 results · 20% of the pool
352M+6% to float
05/17/2027, 13:30scheduled
Extended lock-up: day 340 · 10% of the pool
176M+2.8% to float
06/14/2027, 13:30scheduled
06/12/2027 is a weekend
Extended lock-up: day 366 · 20% of the pool
352M+5.5% to float
06/14/2027, 13:30scheduled
06/12/2027 is a weekend
Founder: all shares
6.4B+95% to float
≈ 08/05/2027estimated date
Extended lock-up: after Q2 2027 results
352M+2.7% to float
—not before 02/14/2027
Issued to buy Cursor
391M

When	What unlocks	Shares	To float	Price a day later	Status
06/12/2026	Initial public offering	639M	—	—	✓ released
08/06/2026, 13:30	180-day lock-up: after Q2 2026 results · 20% of the pool	912M	+142.7%	+7.1%	✓ released
—	180-day lock-up: early if price ≥ $175.50 · 10% of the pool	456M	—	—	✗ not triggered
08/20/2026, 13:30	180-day lock-up: day 70 · 7% of the pool	319M	+20.6%	−1.6%	✓ released
09/09/2026, 13:30	180-day lock-up: day 90 · 7% of the pool	319M	+17.1%	−2.7%	✓ released
09/10/2026, 13:30	180-day lock-up: day 91	59.1M	+2.7%	+2.0%	✓ released
09/24/2026, 13:30	180-day lock-up: day 105 · 7% of the pool	328M	+14.6%	+0.6%	✓ released
10/09/2026, 13:30	180-day lock-up: day 120 · 7% of the pool	328M	+12.7%	—	✓ released
10/26/2026, 13:30 10/24/2026 is a weekend	180-day lock-up: day 135 · 7% of the pool	328M	+11.3%	—	scheduled
≈ 11/05/2026	180-day lock-up: after Q3 2026 results · 28% of the pool	1.3B	+40.2%	—	estimated date
12/08/2026, 14:30	180-day lock-up: day 180	798M	+17.6%	—	scheduled
≈ 02/11/2027	Extended lock-up: after Q4 2026 results · 20% of the pool	352M	+6.6%	—	estimated date
03/18/2027, 13:30	Extended lock-up: day 280 · 10% of the pool	176M	+3.1%	—	scheduled
≈ 05/06/2027	Extended lock-up: after Q1 2027 results · 20% of the pool	352M	+6%	—	estimated date
05/17/2027, 13:30	Extended lock-up: day 340 · 10% of the pool	176M	+2.8%	—	scheduled
06/14/2027, 13:30 06/12/2027 is a weekend	Extended lock-up: day 366 · 20% of the pool	352M	+5.5%	—	scheduled
06/14/2027, 13:30 06/12/2027 is a weekend	Founder: all shares	6.4B	+95%	—	scheduled
≈ 08/05/2027	Extended lock-up: after Q2 2027 results	352M	+2.7%	—	estimated date
—	Issued to buy Cursor	391M	—	—	not before 02/14/2027

SPCX on our venues: open interest $730.5M on 6 exchanges · 24h volume $81.3M

Sources: IPO prospectus (06/11/2026) · quarterly results (08/04/2026) · 10-Q quarterly report (08/04/2026) · acquisition (8-K) (08/14/2026)