SpaceX (SPCX.US) Sees First Insider Selling Signal After IPO; President Plans to Sell $52 Million in Shares Ahead of Starship's First Orbital Test

Latest regulatory filings show that SpaceX (SPCX.US) President and Chief Operating Officer Gwynne Shotwell filed to sell nearly $52 million worth of shares, while a separate disclosure shows that an investment account held in the name of U.S. President Donald Trump bought and sold the company's stock in July. SPCX shares rose 2% on Tuesday to close at $154.72, ending a two-session losing streak. SpaceX Trading Disclosures Draw Attention Shotwell's latest regulatory filing shows she plans to sell 342,170 shares, with a total market value of $51.96 million. The company acquired these shares on Tuesday through a cash exercise of stock options. In its first quarterly report since going public, SpaceX disclosed that Shotwell adopted a 10b5-1 trading plan on June 23 covering up to 585,605 shares. The company said most of her holdings remain subject to an extended lock-up period. The shares listed in Tuesday's sale notice did not exceed the cap disclosed under that plan. Separately, a financial disclosure released Tuesday showed that on July 10, an account held in Trump's name bought $15,001 to $50,000 worth of SpaceX stock, then sold $1,001 to $15,000 worth on July 17. A disclosure last month also showed that an account held in Trump's name bought $15,001 to $50,000 worth of SpaceX stock on June 23. White House spokesperson Davis Ingle said: "President Trump and no member of his family has the ability to direct, influence, or provide advice on how the portfolio is invested or when securities are bought or sold." His holding of SpaceX stock has drawn attention because the company holds major contracts with NASA and the Department of Defense. Starship's First Orbital Test Approaches The trading disclosures come just before SpaceX's next major operational test. The company is targeting no earlier than September 28 for Starship's 14th flight, a mission aimed at sending the upper stage into Earth orbit for the first time and deploying 26 operational Starlink V3 satellites. The 10-hour mission is planned to circle Earth six times before the spacecraft splashes down in The Pacific. The test comes as SpaceX prepares to shift more launches from Falcon 9 to Starship. Some commercial customers are already struggling to book Falcon 9 launches beyond 2028 and are seeking other routes to orbit. SpaceX is gradually scaling back Falcon 9 production, though the rocket is expected to keep flying for yearsespecially for government missionswhile Starship remains in development.