Crain Timothy Price II 4

What Happened

• Crain Timothy Price II, SVP & Chief Technology Officer of Intuitive Machines (LUNR), exercised/converted 150,000 derivative units into common stock and disposed of 150,000 shares on March 19, 2026. He sold 78,100 shares at a weighted average of $16.93 (proceeds $1,322,491), 42,798 shares at $17.81 (proceeds $762,104), and 29,102 shares at $18.81 (proceeds $547,301), for total reported proceeds of approximately $2,631,896 (aggregate weighted average ≈ $17.55/share). The filing also reports a 150,000-share disposition to the issuer related to the conversion/redeemed units.

Key Details

• Transaction date: March 19, 2026; Form 4 filed March 23, 2026 (timely).
• Open-market sales: 78,100 @ $16.93 (F3), 42,798 @ $17.81 (F4), 29,102 @ $18.81 (F5); total proceeds ≈ $2.63M.
• Derivative activity: 150,000 shares were reported as exercised/converted (M) and a related 150,000-share disposition to the issuer (D); some shares sold in the open market same day.
• Sales executed under a Rule 10b5-1 plan adopted Sept 16, 2025 (F1).
• Footnote on unit redemption: Common Units of Intuitive Machines, LLC may be redeemed 1:1 for Class A shares and redemption can trigger cancellation of Class C shares (F2).
• Shares owned after the transactions: not specified in the filing.

Context

• The filing shows exercise/conversion and same-day sales, which commonly reflects a cashless conversion + sale or redemption pathway; the Form 4 indicates both market sales and a disposition to the issuer (likely redemption/cancellation mechanics described in F2).
• Sales were carried out under a pre-established 10b5-1 plan, which is a routine trading arrangement that provides an affirmative defense under Rule 10b5-1 and does not by itself indicate a change in the insider’s view of the company.