Ghaffarian Kamal Seyed 4
4 · Intuitive Machines, Inc. · Filed Jun 17, 2026
Research Summary
AI-generated summary of this filing
Intuitive Machines (LUNR) 10% Owner Kamal Ghaffarian Sells Shares
What Happened
- Kamal Ghaffarian, a reported 10% owner of Intuitive Machines (LUNR), effected the conversion/exercise of 141,909 derivative/common-unit interests and disposed of the resulting shares. On June 15, 2026 he sold 141,909 shares in open-market transactions for aggregate proceeds of approximately $3,711,464. The sales were executed under a Rule 10b5-1 plan.
Key Details
- Transaction date: June 15, 2026; Form 4 filed June 17, 2026 (timely).
- Open-market sales (total 141,909 shares / $3,711,464):
- 121,809 shares at a weighted average $26.03 (range $25.58–$26.57) — proceeds ~$3,170,956 (F5)
- 19,334 shares at a weighted average $26.86 (range $26.58–$27.50) — proceeds ~$519,253 (F6)
- 766 shares at a weighted average $27.75 (range $27.59–$27.85) — proceeds ~$21,255 (F7)
- Derivative activity: filing shows exercise/conversion (code M) of 141,909 units and a disposition to the issuer (code D); no exercise price listed in the filing (N/A). (See F1 for redemption/conversion mechanics.)
- Sales executed pursuant to a Rule 10b5-1 plan adopted by Ghaffarian Enterprises, LLC on December 4, 2025 (F4).
- Shares held after the transactions (held of record by related entities) per the filing (F2):
- GM Enterprises, LLC: 2,241,121 Common Units and shares of Class C
- Ghaffarian Enterprises, LLC: 32,688,964 Common Units and shares of Class C, and 3,494,768 shares of Class A
- Beneficial ownership note: Dr. Ghaffarian is sole managing member or trustee of the reporting entities and may be deemed to share beneficial ownership but disclaims ownership except to his pecuniary interest (F3).
Context
- This filing reflects a sale by a 10% non-employee owner under a pre-established 10b5-1 plan; such sales are often scheduled and do not necessarily signal management sentiment.
- The filing shows derivative conversion/exercise followed by disposition; the record does not specify a cashless exercise or cash paid for the derivative exercise in the Form 4 (amounts listed as N/A).
Insider Transaction Report
Form 4
Ghaffarian Kamal Seyed
Director10% Owner
Transactions
- Exercise/Conversion
Class A Common Stock
[F1][F2][F3]2026-06-15+141,909→ 3,636,677 total(indirect: See footnotes) - Disposition to Issuer
Class C Common Stock
[F1][F2][F3]2026-06-15−141,909→ 34,930,085 total(indirect: See footnotes) - Sale
Class A Common Stock
[F4][F5][F2][F3]2026-06-15$26.03/sh−121,809$3,170,956→ 3,514,868 total(indirect: See footnotes) - Sale
Class A Common Stock
[F4][F6][F2][F3]2026-06-15$26.86/sh−19,334$519,253→ 3,495,534 total(indirect: See footnotes) - Sale
Class A Common Stock
[F4][F7][F2][F3]2026-06-15$27.75/sh−766$21,255→ 3,494,768 total(indirect: See footnotes) - Exercise/Conversion
Common Units
[F1][F2][F3]2026-06-15−141,909→ 34,930,085 total(indirect: See footnotes)→ Class A Common Stock (141,909 underlying)
Holdings
- 153,526
Class A Common Stock
Footnotes (7)
- [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.
- [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) 32,688,964 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 $25.58 to $26.57, 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 $26.58 to $27.50, 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 $27.59 to $27.85, 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.