SpaceX IPO: Up to 5% of Shares Set Aside for Insiders' Inner Circle

SpaceX is carving out a slice of its IPO for the people closest to the company. An SEC filing shows the rocket maker plans to reserve up to 5% of its Class A shares for select employees plus friends and family of executives.

There's a catch for most shareholders, though. More than 60% of shares will carry an extended lock-up period, keeping a majority of the stock off the open market after the company goes public.

The friends-and-family allocation is a well-worn IPO playbook move, but the scale of the lock-up is notable. Locking up that much equity signals SpaceX wants to keep volatility in check and avoid a flood of insider selling post-debut.

The filing marks another concrete step toward what's shaping up to be one of the most anticipated public offerings in years.