SPCX's low float and phased unlocking are true, but the 5%→25%→60%→100% progression should be understood as an approximate tradable equity path, not a definitive sell-off schedule. After the Q2 earnings report, up to 20% of eligible insider shares will be unlocked, with an additional +10% possible if stock price performance conditions are met; Subsequent releases will occur in batches at 70/90/105/120/135 days; most non-Musk shares will be unlocked after 180 days; Musk's ~42% stake is locked until June 2027. Key point: unlock ≠ sell, but the low float + phased volume release is indeed one of SPCX's biggest structural risks moving forward. Attachment: SPCX Unlock Schedule: Today: 5% August 11: 25% August 21: 32% September 10: 39% September 25: 46% October 10: 53% October 25: 60% November 9: 60% December 9: 58–60% June 13, 2027: 100% https://(x.com)/DeFiTracer/status/2067418178142056758/video/1