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

What Happened
Kamal Ghaffarian (identified as a 10% owner) carried out a set of transactions on August 24, 2026, that involved converting/exercising 141,909 derivative/common-unit interests into shares and selling shares in the open market. The open-market sales consisted of 139,772 shares at a weighted average price of $16.86 (range $16.61–$17.23) for proceeds of $2,356,724, plus 2,137 shares at $17.68 for $37,782. Total reported proceeds for the open-market sales: $2,394,506. The filings also show a related disposition to the issuer and conversion/derivative activity tied to the same 141,909-share amount.

Key Details

• Transaction date: August 24, 2026 (Form 4 filed Aug 26, 2026 — timely)
• Sales: 139,772 shares @ $16.86 (weighted avg; individual prices $16.61–$17.23) and 2,137 shares @ $17.68
• Total proceeds reported from open-market sales: $2,394,506
• Derivative activity: 141,909 shares reported as exercised/converted (related disposition to issuer also reported) — these reflect conversion/redemption mechanics between Intuitive Machines, LLC common units and the Issuer’s Class A shares (see footnote)
• Plan: Sales were effected pursuant to a Rule 10b5-1 trading plan adopted Dec 4, 2025 (footnote)
• Holdings after transactions (per filing footnotes): GM Enterprises, LLC — 2,241,121 common units/Class C; Ghaffarian Enterprises, LLC — 31,979,419 common units/Class C and 3,494,768 shares of Class A
• Beneficial ownership note: Dr. Ghaffarian is sole managing member/sole trustee of the reporting entities and may be deemed to share beneficial ownership but disclaims beneficial ownership except to the extent of pecuniary interest

Context
The filing combines derivative conversion/redemption mechanics (conversion of LLC common units into Class A shares and related cancellations) with immediate open-market sales. Because the sales were made under a pre-established Rule 10b5-1 plan, they are generally considered routine dispositions rather than ad hoc insider buys. As a 10% owner (through entities), these transactions represent entity-level liquidity rather than a straightforward executive buy signal. The derivative entries reflect the conversion/redemption process — not the grant of new compensation — and the subsequent sales generated the cash proceeds noted above.