Gwynne Shotwell, President and COO of SpaceX, sold company stock valued at $52.5 million on September 22. The transaction involved the exercise of stock options for 342,170 shares at prices between $8.40 and $19.40, followed by an immediate sale at prices ranging from $151 to $155 per share.
The sale was executed through Morgan Stanley under a Rule 10b5-1 plan established on June 23. This regulatory framework allows executives to pre-schedule trades to avoid potential conflicts with non-public information. The transaction represents approximately 6% of Shotwell's total holdings in the company.
Following the sale, Shotwell retains 2.47 million Class A shares directly and 3.11 million shares held in family trusts. Based on the closing price of $148.68 on Friday, the value of her remaining stake is estimated at approximately $830 million. She also maintains 575,005 unexercised options.
The stock sale occurred shortly before the scheduled launch of the Starship rocket, which is set to carry 26 Starlink satellites. SpaceX shares have experienced volatility, recently trading about 34% below their peak of $225.64. Analysts currently track an average price target of $232.07 for the company.
