Form 4: Intuitive Machines Director Kamal Ghaffarian Sells Shares Under 10b5-1 Plan

Director Kamal Ghaffarian and related entities sold shares of Intuitive Machines (LUNR) Class A Common Stock and converted Common Units to Class A Common Stock on December 16, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On December 16, 2024, Kamal Ghaffarian, a director and 10% owner of Intuitive Machines, Inc. (LUNR), executed transactions involving the company's stock.
• Ghaffarian converted 377,973 Common Units into Class A Common Stock.
• He also sold 229,206 shares of Class A Common Stock at an average price of $11.7617 and 148,767 shares at an average price of $12.5751.
• These sales were conducted under a pre-arranged Rule 10b5-1 plan adopted on March 22, 2024.
• The transactions were executed by Ghaffarian Enterprises, LLC, GM Enterprises, LLC, and Intuitive Machines KG Parent, LLC, entities over which Kamal Ghaffarian has control.
• Following these transactions, Ghaffarian and related entities continue to hold a significant number of Class A and Class C Common Stock, as well as Common Units.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports insider selling under a pre-arranged plan, which is a common practice. The impact on the stock price will depend on market perception and the company's overall performance.

Industry Context

Insider sales are a common occurrence, and the use of a 10b5-1 plan suggests the sales were pre-planned and not based on current inside information. The market will likely interpret the sales in light of the company's performance and future prospects.

Stakeholder Impact

• Shareholders may react to the insider selling, depending on their perception of the company's prospects and the reasons behind the sales.
• The sales could have a short-term impact on the stock price.

Key Dates