Class B common stock + performance-based, a classic Silicon Valley approach.

Mars Finance News, May 21 — SpaceX announced in its S-1 registration statement filed with the U.S. Securities and Exchange Commission (SEC) that it will allow phased unlocking of shares before the 180-day lock-up period expires, with the phases linked to company profitability, stock price, and timing milestones. On January 13, 2026, the board approved the grant of 1 billion performance-based Class B common restricted shares to Elon Musk. Today’s report states that SpaceX has officially filed for an IPO, with Musk retaining 85.1% of voting rights.