https://www.sec.gov/reports/rule-144-selling-restricted-cont...
reply> Holding Period. Before you may sell any restricted securities in the marketplace, you must hold them for a certain period of time. If the company that issued the securities is a “reporting company” in that it is subject to the reporting requirements of the Securities Exchange Act of 1934, then you must hold the securities for at least six months
Are the securities restricted though? I don’t think these would be?
replyAlmost guaranteed to be. The only other way would be to have issued them during the transaction with the Sec. There was no mention of that. 60billion of issued shares would have been mentioned. It's non trivial amount.
replyWhat’s the lockup period in this case?
replyUm, I honestly don't know for sure, if I'm not mistaken SpaceX has some weird staggered release schedule for employees and early investors, I guess based on their stock dates.
reply> SpaceX has a 7 day lockup for some people which is abnormal
replyYou might be referring to staff members who have shares ? Their shares are not restricted securities as far as I know, but their internal company policy might affect those, but I'm not 100% certain on that.
There are many tranches here. Some friends and family got to buy day one IPO with no restrictions. Then some employees get a rolling release starting June 30.
replyThat's interesting actually, and good to hear. I fully believe those employees deserve their full share.
reply