Intuitive Machines (LUNR) 10% Owner Kamal Ghaffarian Sells Shares

What Happened

• Kamal Ghaffarian (reported as a 10% owner through affiliated entities) sold a total of 267,448 shares of Intuitive Machines (LUNR) in open-market transactions on August 10, 2026, receiving approximately $4,325,193 (~$4.33M). The sales were two lots: 248,784 shares at a weighted average price of $16.13 (total ~$4,013,831) and 18,664 shares at a weighted average price of $16.68 (total ~$311,362).
• The Form 4 also reports same-day derivative activity: an exercise/conversion of 267,448 units/shares and a disposition to the issuer of 267,448 shares (reflecting conversion/redemption mechanics described in the footnotes). The open-market sales were effected under a Rule 10b5-1 trading plan.

Key Details

• Transaction date: August 10, 2026; Form 4 filed August 12, 2026 (timely within the typical two-business-day window).
• Sale details: 248,784 shares at weighted avg $16.13 (range $15.62–$16.61 per F5); 18,664 shares at weighted avg $16.68 (range $16.62–$16.81 per F6). Total proceeds reported ≈ $4.33M.
• Derivative activity: 267,448 shares were converted/exercised (code M) and a corresponding disposition to the issuer (code D) was reported the same day. This reflects conversion/redemption mechanics of Intuitive Machines, LLC common units (see F1).
• Holdings after transaction: Footnotes report post-transaction holdings attributable to affiliated entities — GM Enterprises, LLC and Ghaffarian Enterprises, LLC — including millions of Common Units/Class C shares and 3,494,768 shares of Class A (see F2–F3 for details).
• Plan/authorization: Sales were executed pursuant to a Rule 10b5-1 plan adopted Dec 4, 2025 (F4).
• Price reporting: The Form 4 lists weighted averages and price ranges; the filer offers to provide details of sales at each price on request (F5–F6).

Context

• The sequence (conversion/exercise plus same-day open-market sale) is effectively a conversion of units followed by sale of the resulting shares; this can resemble a cashless exercise/conversion but is a reported conversion plus sale rather than an outright purchase.
• As a reported 10% owner acting through affiliated entities, these transactions reflect entity-level liquidity and structured sales under a 10b5-1 plan rather than a straightforward executive market-timing signal.