Intuitive Machine's CEO Sold Nearly 13,000 Shares. Is the Stock a Buy or Sell?
Key Points
CEO Stephen Altemus sold 12,669 shares a total of ~$253,400 on Jan. 8, 2026, at a weighted average price around $20.00 per share.
This transaction represented 0.09% of Stephen Altemus’s direct holdings, reducing his direct ownership to 13,855,946 shares post-sale.
The filing reflects a derivative-based transaction: options were exercised and the resulting shares immediately sold, impacting only direct (not indirect) ownership.
The volume and percentage were immaterial relative to historic administrative trades and available capacity.
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On Jan. 8, 2026, Intuitive Machines (NASDAQ:LUNR) Chief Executive Officer Stephen J. Altemus executed an option exercise and immediate sale of 12,669 shares for a total transaction value of approximately $253,400, as disclosed in the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 12,669 |
| Transaction value | ~$253,419.27 |
| Post-transaction shares (direct) | 13,855,946 |
| Post-transaction value (direct ownership) | ~$271,992,219.98 |
Transaction value based on SEC Form 4 weighted average purchase price ($20.00); post-transaction value based on trade-date closing price.
Key questions
- How significant was the sale relative to the CEO’s total direct holdings?
The 12,669 shares sold represented just 0.09% of Stephen J. Altemus’s direct ownership, leaving his stake essentially unchanged at over 13.8 million shares. - What was the structure and intent of the transaction?
This event was a derivative transaction involving the exercise of 12,669 options for Class A Common Stock, with all acquired shares immediately sold on the open market — consistent with liquidity management rather than directional disposition. - Did the transaction alter indirect holdings or involve any trusts or entities?
No indirect holdings were affected; the filing attributes all activity to direct ownership, with no involvement of family trusts, LLCs, or other related entities. - How does the size of this trade compare to prior administrative transactions?
The volume is immaterial compared with recent administrative trades, which have included events as large as 2,000,000 shares, indicating that this transaction had negligible impact on insider exposure or capacity.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $3.07 billion |
| Revenue (TTM) | $218.49 million |
| Net income (TTM) | ($193.22 million) |
| 1-year price change | 13.22% |
* 1-year performance calculated using Jan. 8, 2026 as the reference date.
Company snapshot
- Intuitive Machines offers lunar access services, orbital services, lunar data services, and space products and infrastructure, supporting robotic and human exploration of the Moon and beyond.
- It offers space products and services to support sustained robotic and human exploration to the moon, mars, and beyond.
- The company offers services related to lunar access, orbital services, and lunar data through its various business units.
Intuitive Machines is a Houston-based aerospace company focused on providing advanced lunar and orbital solutions for the space industry. With a diversified portfolio spanning lunar access, data, and infrastructure, the company positions itself as a key enabler of sustained lunar exploration. Its integrated business model and technical expertise support government and commercial clients in achieving complex space missions.
What this transaction means for investors
The sale of 12,669 shares of Intuitive Machines by CEO Stephen Altemus is not a red flag. The transaction was part of Mr. Altemus’ Rule 10b5-1 trading plan. He adopted the plan in December of 2024.
A Rule 10b5-1 trading plan is often implemented by insiders to avoid accusations of making trades based on insider information. In addition, the 12,669 shares involved only a small portion of Mr. Altemus’ more than 13.8 million shares held, suggesting the sale was perhaps for personal reasons, such as to meet personal obligations or pay taxes rather than a reflection of company performance.
The sale came at a time when Intuitive Machines stock was on an upswing. Shares hit a 52-week high of $24.95 on Jan. 24, thanks to the company capturing new customer contracts. It also completed the acquisition of Lanteris Space Systems in January, expanding its revenue and scope of space-related offerings.
However, the company’s share price jump means its price-to-sales ratio rose, reaching nearly 11, which is higher than it’s been over the past year. Consequently, this suggests now is a good time to sell, but not to buy.
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Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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