The most anticipated IPO in Wall Street history is officially happening. SpaceX, the company that has redefined commercial spaceflight, satellite internet, and now artificial intelligence, is set to go public on Nasdaq under the ticker SPCX. If you are a SpaceX employee with equity, or an investor watching closely, the next two weeks are critical. Here is what you need to know.

The Key Dates

June 3: Online Investor Event
SpaceX kicks off its public-facing investor engagement. This is your first opportunity to hear directly from leadership about the company's financial outlook and vision.

June 4: Roadshow Begins
The formal institutional roadshow gets underway, with SpaceX presenting to major investors and financial institutions. This is where the pricing conversation begins in earnest.

June 11: Expected Pricing
Shares are expected to be priced the evening before trading begins. This is the moment the official IPO price per share is set.

June 12: IPO Day, Nasdaq: SPCX
SpaceX targets its Nasdaq debut on this date. The company is aiming to raise up to $75 billion at a valuation of approximately $1.75 trillion, which would make it the largest IPO in history, surpassing Saudi Aramco's 2020 offering.

What SpaceX Employees Need to Understand Before June 12th

If you are a SpaceX employee holding equity, the IPO date is exciting, but it does not mean you can sell your shares immediately. This is one of the most misunderstood aspects of employee equity in a newly public company.

Lockup Periods Are Real, And They Are Complex

Most employees assume they can sell shares the moment the company goes public. In reality, employee shares are subject to lockup periods and release schedules that vary depending on your specific share class, vesting schedule, and company policy. Releases can happen in stages over many months.

Beyond lockup schedules, SpaceX employees are also subject to insider trading policies and blackout periods. These are windows around earnings releases where trading is restricted entirely. Before making any financial decisions, you need clarity from SpaceX's legal or compliance team on exactly when your specific trading windows open.

The Biggest Decision You Will Ever Make With Your Wealth

Let's be direct about something most people are not saying out loud right now.

If you are a SpaceX employee with equity, there is a very real possibility that the majority, or even all, of your wealth is sitting in one single basket. One company. One stock. One ticker symbol.

That is an extraordinary position to be in. And it is also one of the most financially dangerous places you can stand.

What if the stock goes down? IPO excitement does not guarantee long-term price stability. History is filled with companies that debuted at record valuations and pulled back significantly in the months and years that followed. If your entire financial life is tied to SPCX and the price drops 30%, 40%, or more, what does that mean for your retirement, your family, your future?

What if the stock goes up? This sounds like a great problem to have, and it is. But a rising stock price on a concentrated position also means a growing tax liability the moment you sell. The bigger the gain, the bigger the bill. Without a strategy in place, a significant portion of that wealth goes straight to taxes before you ever see it.

The answer is diversification, and the time to plan for it is right now.

Not after your shares are released. Not after the stock moves. Now, while you still have time to structure things correctly.

Employees who take this moment seriously and build a thoughtful diversification strategy have the opportunity to create income that could last the rest of their lives. A properly structured plan can give you:

• Tax-advantaged income year after year for decades
• Protection against a single stock's volatility
• A charitable legacy if that aligns with your values
• Freedom, the ability to make life decisions that are not dependent on what SPCX does on any given day

This is not about being pessimistic about SpaceX. It is about making sure that everything you have worked for is protected and positioned to grow, no matter what the market does.

The Tax Conversation Nobody Is Having

Here is the part that catches most employees off guard. When your shares are released and you sell, the gain is potentially subject to significant capital gains taxes. On a multi-million dollar position, you could be looking at a tax liability in the hundreds of thousands of dollars, or more.

This is where strategic planning before the window opens makes an enormous difference.

What Is a CRUT and Why Does It Matter Here?

A Charitable Remainder Unitrust, or CRUT, is one of the most powerful tools available for employees facing a large, concentrated equity position at IPO. Here is how it works in plain terms:

• You transfer your shares into the trust before you sell
• The trust sells the shares without triggering immediate capital gains tax
• You receive an income stream from the trust for a set number of years
• You receive a significant charitable deduction in the year of contribution
• The remainder goes to a charity of your choice at the end of the trust term

For example, on a $500,000 contribution with a 5% annual payout structured over two lives, the charitable deduction can be significant, and it can be carried forward and applied over 5 years. Combined with a high-income year like 2026, the tax savings can be substantial.

The exact deduction depends on your age, payout rate, trust structure, and the current IRS §7520 rate, which is why working with the right team to run your specific numbers matters. This is not a one-size-fits-all strategy, but for the right employee with the right equity position, it is one of the most powerful tools available.

The Importance of Planning Now, Not After

The window between the IPO and your first share release is your most valuable planning period. Here is what needs to be in place before your shares are available:

• CRUT documents drafted, reviewed, and signed
• Tax strategy mapped out with a qualified tax attorney
• Securities broker engaged and ready to execute the transfer
• Diversification plan in place for proceeds

Waiting until shares are released to start this process means lost time, potential missed tax savings, and rushed decisions on one of the most significant financial events of your life.

How Our Team Can Help

At WMA, we have assembled the right team to guide SpaceX employees through every step of this process:

• Wealth Strategy: Our advisors work with you on the big picture plan, including CRUT structuring, deduction timing, and portfolio diversification
• Tax & Legal: Our tax attorney is available to walk you through the tax implications inside the CRUT and help you maximize the deduction across the right tax years
• Securities Execution: Our securities broker handles the mechanics of transferring shares into the trust and executing the sale within your specific window

We are not just advisors. We are a coordinated team that works together so nothing falls through the cracks.

The information in this post is for educational purposes only and does not constitute tax or legal advice. Please consult a qualified tax professional regarding your specific situation.

Sandra Miller | WMA Wealth Management | Titusville, FL