Form 4: Intuitive Machines CEO Stephen Altemus Acquires 105,000 Shares of Class A Common Stock

Intuitive Machines' CEO, Stephen Altemus, acquired 105,000 shares of Class A Common Stock on February 25, 2024, following the certification of achievement of commercial milestones associated with a performance-based restricted stock unit (RSU) award.

Summary

• On February 25, 2024, Stephen J Altemus, CEO of Intuitive Machines, acquired 105,000 shares of Class A Common Stock.
• The acquisition was a result of the compensation committee certifying the achievement of commercial milestones related to a performance-based restricted stock unit (RSU) award.
• The RSU award was originally granted on February 7, 2024.
• The acquired shares are valued at $0 each.
• The RSUs will vest on April 11, 2024, and do not expire.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The CEO acquiring shares after achieving milestones suggests confidence, but it's a routine transaction related to compensation.

Positives

• The CEO's acquisition of shares could be interpreted as a positive signal, indicating confidence in the company's future performance and the achievement of commercial milestones.

Future Outlook

The document does not contain explicit forward-looking statements, but the vesting of RSUs on April 11, 2024, is a future event.

Industry Context

This filing reflects standard executive compensation practices within publicly traded companies, where stock-based awards are used to align management's interests with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, especially in high-growth sectors like space exploration.
• Companies like SpaceX and Blue Origin, while privately held, are known to offer equity-based incentives to their employees.
• Comparing the size and structure of Altemus's RSU award to those of CEOs at similarly sized publicly traded aerospace or technology companies would provide a more detailed benchmark.

Stakeholder Impact

• The CEO's acquisition of shares could positively influence shareholder sentiment, reflecting confidence in the company's performance.

Next Steps

• The RSUs will vest on April 11, 2024.

Key Dates