SpaceX (SPCX.US) showed signs of executive holdings reduction for the first time since its listing. Starship's president plans to sell 52 million US dollars of shares before entering orbit for the first time

The Zhitong Finance App learned that the latest regulatory documents show that SpaceX (SPCX.US) President and Chief Operating Officer Gwen Shortwell submitted documents to sell shares worth nearly 52 million US dollars; another disclosure shows that an investment account held in the name of US President Donald Trump traded the company's shares in July.

SPCX shares rose 2% to close at $154.72 on Tuesday, ending two consecutive trading days of decline.

SpaceX deal disclosure draws attention

According to the latest regulatory filings submitted by Shortwell, it plans to sell 342,170 shares, with a total market value of $51.96 million. The company acquired these shares on Tuesday through cash exercise stock options.

SpaceX revealed in its first quarterly report after listing that Shortwell had adopted a 10b5-1 trading plan on June 23, covering up to 585,605 shares. The company said most of her holdings are still in the extended lockdown period. The shares listed in Tuesday's sale notice did not exceed the maximum disclosed in the plan.

Additionally, a financial disclosure released on Tuesday showed that on July 10, an account held in Trump's name bought SpaceX shares worth $1,5001 to $50,000, and then sold for $1001 to $15,000 on July 17. Last month's disclosure also revealed that accounts held in Trump's name bought SpaceX shares between 1,5001 and $50,000 on June 23.

White House spokesman Davis Ingle said, “President Trump and no member of his family are capable of directing, influencing, or advising on how to invest or when to buy and sell portfolios.” His ownership of SpaceX stock attracted attention because the company holds important contracts between the National Aeronautics and Space Administration (NASA) and the Department of Defense.

Starship's first orbital test is approaching

The transaction disclosure comes before SpaceX's next major operational test. The company aims to launch the 14th Starship flight no earlier than September 28. The mission aims to launch the upper stage into Earth orbit for the first time and deploy 26 active Starlink V3 satellites. The 10-hour mission was scheduled to orbit Earth six times before the spacecraft splashed in the Pacific Ocean.

This test comes as SpaceX is preparing to shift more launch missions from Falcon 9 (Falcon 9) to Starship. Some commercial customers have had trouble booking Falcon 9 launches after 2028 and are looking for other ways to get into orbit. SpaceX is gradually reducing production of Falcon 9, but the rocket is expected to fly for many more years — especially government missions — while the Starship is still being developed.