Form 4: Intuitive Machines Director Kamal Ghaffarian Reports Share Transactions

Kamal Ghaffarian, a director and 10% owner of Intuitive Machines, Inc. (LUNR), reported the acquisition and disposal of Class A and Class C Common Stock, as well as Common Units, through various entities.

Summary

• On August 30, 2024, Kamal Ghaffarian, a director and 10% owner of Intuitive Machines, reported transactions involving Class A Common Stock, Class C Common Stock, and Common Units.
• These transactions were conducted through Ghaffarian's affiliated entities: Ghaffarian Enterprises, LLC, GM Enterprises, LLC, and Intuitive Machines KG Parent, LLC.
• The reported transactions include the acquisition of 1,200 Class A Common Stock through the conversion of Common Units, the disposal of 1,200 Class A Common Stock at a price of $6, and adjustments to holdings of Common Units.
• Following these transactions, Ghaffarian's beneficial ownership includes 3,551,606 shares of Class A Common Stock and 38,876,362 shares of Class C Common Stock held directly, as well as indirect ownership through the affiliated entities.
• The sales reported were effected pursuant to a Rule 10b5-1 plan adopted by Ghaffarian Enterprises, LLC on March 22, 2024.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard regulatory filing detailing insider trading activity. The transactions themselves don't necessarily indicate positive or negative sentiment about the company's future.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for insiders of publicly traded companies, providing transparency into their trading activities. It allows investors to monitor the actions of company directors and large shareholders.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency of insider transactions.
• The Rule 10b5-1 plan is a common tool used by corporate insiders to diversify their holdings while avoiding accusations of trading on non-public information, similar to plans used by executives at companies like Tesla and Apple.

Stakeholder Impact

• Shareholders can use this information to understand the trading activity of key insiders.
• The transactions may have a minor impact on the stock price, depending on the overall market perception.

Key Dates