SpaceX Reserves Up to 5% of IPO Stock for Employees, Friends

SpaceX will allocate up to 5% of shares in its upcoming initial public offering to certain employees and friends and family of executive officers, the company disclosed in an amended prospectus filed June 1, 2026. The directed share program carves out Class A stock for participants, who were previously disclosed last month to be exempt from standard lock-up restrictions. In the filing, the company noted that more than 60% of outstanding shares are subject to extended lock-ups, including the holdings of founder and CEO Elon Musk. SpaceX is targeting a valuation of at least $1.8 trillion in the IPO, Bloomberg reported in late May citing people familiar with the matter. That figure represents a pullback from a previous target of above $2 trillion reported in April 2026.