Ghaffarian Kamal Seyed 4
4 · Intuitive Machines, Inc. · Filed Jun 3, 2026
Research Summary
AI-generated summary of this filing
Intuitive Machines (LUNR) 10% Owner Kamal Ghaffarian Sells Shares
What Happened
Kamal Seyed Ghaffarian, a reported 10% owner, exercised/converted 141,909 derivative units into common shares and sold all 141,909 shares in multiple open‑market transactions on June 1, 2026. The sales were executed under a Rule 10b5‑1 plan and generated aggregate reported proceeds of $5,536,840 (weighted average ≈ $39.02 per share). The filing lists the exercise/conversion as transaction code M and the sales as S.
Key Details
- Transaction date: June 1, 2026 (reported on Form 4 filed June 3, 2026). Filing appears timely.
- Sales breakdown (reported): 84,411 @ $38.50 ($3,250,212); 37,997 @ $39.09 ($1,485,367); 8,301 @ $40.25 ($334,104); 7,193 @ $41.26 ($296,777); 3,007 @ $42.35 ($127,348); 1,000 @ $43.03 ($43,032). Total proceeds $5,536,840. Reported prices are weighted averages; footnotes list transaction price ranges for each tranche.
- Shares involved: 141,909 shares exercised/converted (M) and 141,909 shares sold (S). Some filings also show a related disposition to the issuer.
- Holdings after the transactions (per footnote): GM Enterprises, LLC — 2,241,121 Common Units/Class C; Ghaffarian Enterprises, LLC — 32,830,873 Common Units/Class C and 3,494,768 shares of Class A. Dr. Ghaffarian is the sole managing member/sole trustee of those entities and may be deemed to share beneficial ownership (he disclaims ownership except to the extent of pecuniary interest).
- Notable footnotes: sales were effected pursuant to a Rule 10b5‑1 plan adopted Dec 4, 2025; Common Units of Intuitive Machines, LLC may be redeemed one‑for‑one into Class A shares (footnote on conversion mechanics).
Context
This was an exercise/conversion of redeemable common units followed by immediate open‑market sales — effectively a disposal of newly acquired shares. For retail investors: sales under a pre‑arranged 10b5‑1 plan are typically scheduled trades rather than ad‑hoc market timing. As always, insider sales are routine liquidity events and not, by themselves, a definitive signal of company prospects.
Insider Transaction Report
Form 4
Ghaffarian Kamal Seyed
Director10% Owner
Transactions
- Exercise/Conversion
Class A Common Stock
[F1][F2][F3]2026-06-01+141,909→ 3,636,677 total(indirect: See footnotes) - Disposition to Issuer
Class C Common Stock
[F1][F2][F3]2026-06-01−141,909→ 35,071,994 total(indirect: See footnotes) - Sale
Class A Common Stock
[F4][F5][F2][F3]2026-06-01$38.50/sh−84,411$3,250,212→ 3,552,266 total(indirect: See footnotes) - Sale
Class A Common Stock
[F4][F6][F2][F3]2026-06-01$39.09/sh−37,997$1,485,367→ 3,514,269 total(indirect: See footnotes) - Sale
Class A Common Stock
[F4][F7][F2][F3]2026-06-01$40.25/sh−8,301$334,104→ 3,505,968 total(indirect: See footnotes) - Sale
Class A Common Stock
[F4][F8][F2][F3]2026-06-01$41.26/sh−7,193$296,777→ 3,498,775 total(indirect: See footnotes) - Sale
Class A Common Stock
[F4][F9][F2][F3]2026-06-01$42.35/sh−3,007$127,348→ 3,495,768 total(indirect: See footnotes) - Sale
Class A Common Stock
[F4][F10][F2][F3]2026-06-01$43.03/sh−1,000$43,032→ 3,494,768 total(indirect: See footnotes) - Exercise/Conversion
Common Units
[F1][F2][F3]2026-06-01−141,909→ 35,071,994 total(indirect: See footnotes)→ Class A Common Stock (141,909 underlying)
Holdings
- 146,092
Class A Common Stock
Footnotes (10)
- [F1]The Common Units of Intuitive Machines, LLC may be redeemed for shares of the Issuer's Class A Common Stock on a one-to-one basis at the discretion of the holder. The Common Units do not expire. Upon the redemption of any Common Units, a number of shares of Class C Common Stock equal to the number of Common Units that are redeemed will automatically be cancelled for no consideration.
- [F10]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $42.90 to $43.38, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- [F2]Following the transactions reported herein, represents (i) 2,241,121 Common Units and shares of Class C Common Stock held of record by GM Enterprises, LLC and (ii) (x) 32,830,873 Common Units and shares of Class C Common Stock and (y) 3,494,768 shares of Class A Common Stock held of record by Ghaffarian Enterprises, LLC.
- [F3]Kamal Ghaffarian is the sole managing member of GM Enterprises, LLC and is the sole trustee of a revocable trust that is the sole member of Ghaffarian Enterprises, LLC. As a result, Dr. Ghaffarian may be deemed to share beneficial ownership of the securities reported herein, but disclaims beneficial ownership except to the extent of his pecuniary interest therein.
- [F4]The sales reported herein were effected pursuant to a Rule 10b5-1 plan adopted by Ghaffarian Enterprises, LLC on December 4, 2025.
- [F5]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $37.845 to $38.84, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- [F6]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $38.85 to $39.84, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- [F7]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.86 to $40.85, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- [F8]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.87 to $41.83, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.
- [F9]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $41.87 to $42.86, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.