SpaceX Director Gracias Disposes 42,790,223 Shares

What Happened

• Antonio J. Gracias, a director of Space Exploration Technologies Corp. (SpaceX / SPCX), reported an Other acquisition/disposition (code J) on 2026-09-11 showing a disposition of 42,790,223 shares. No price or cash proceeds are reported (price = N/A). The transaction was effected as pro rata in‑kind distributions by several Valor entities under a Rule 10b5‑1 pre-set in‑kind distribution plan adopted June 12, 2026.
• This filing is an amendment (filed 2026-09-30) to the original Form 4 (filed 2026-09-15). The amendment clarifies that the in‑kind distributions did not change the Reporting Person’s pecuniary interest and that a portion of the distributed shares remain owned (directly by Gracias and his children or indirectly through AJG Growth Fund LLC and the Gracias 2009 Family Trust) that were inadvertently omitted from the original filing.

Key Details

• Transaction date: 2026-09-11; Form 4 originally filed 2026-09-15 and amended 2026-09-30.
• Transaction code: J (other acquisition/disposition); price: N/A; shares disposed: 42,790,223.
• Mechanism: Pro rata in‑kind distributions by Valor IV Space Holdings, LLC and related Valor entities pursuant to a 10b5‑1 in‑kind plan.
• Holdings after transaction: not explicitly quantified in the amended Form 4; amendment states some distributed shares remain directly or indirectly held by Gracias (and his children / related vehicles).
• Notable footnotes: reporting person may be deemed beneficial owner of shares held of record by many Valor entities by virtue of positions; he disclaims beneficial ownership except to the extent of his pecuniary interest. Footnote also notes 29,423 Class A shares were received earlier (Aug–Sep 2026) as pro rata distributions from non‑affiliated third parties under Rule 16a‑9.
• Timeliness: original Form 4 was filed 2026-09-15 for a 2026-09-11 transaction (original filing appears within the standard Form 4 timeframe); this is an amended report to clarify ownership and reporting details.

Context

• In‑kind distributions are non‑cash transfers of shares and often reflect changes in how shares are held or distributed rather than active buying or selling for cash; they do not necessarily indicate a change in the insider’s economic stake. The amendment emphasizes this was largely a change in form and clarifies continued ownership interests.