Intuitive Machines CEO Offloads 2 Million LUNR Shares as Stock Rallies 62% in December

Intuitive Machines (NASDAQ: LUNR), the Houston-based aerospace company focused on lunar and orbital mission services, has revealed a significant insider transaction. CEO Stephen J. Altemus sold 2 million shares directly held through open-market trading on December 19 and 22, 2025, generating approximately $31.5 million in proceeds at a weighted average price of $15.75 per share.

The Numbers Behind the Sale

The 2 million share disposition represents a substantial reduction in Altemus’s direct ownership stake. His personal shareholding dropped from 16,368,615 shares to 14,368,615 shares—a 12.22% decrease in direct holdings, with no reported indirect positions at the filing date. The post-sale direct ownership value stands at roughly $226.3 million based on the December 22 close.

What stands out is the scale of this transaction compared to historical precedent. Altemus’s typical administrative sales average around 61,432 shares, with median open-market dispositions hitting 550,000 shares. This 2 million share flush is dramatically larger by comparison. In fact, since September 2024, the CEO’s direct shareholding has contracted by nearly 20%—suggesting a systematic pattern rather than an isolated event.

Why Sell Now?

The timing raises eyebrows for a specific reason: LUNR experienced explosive momentum in early December, surging approximately 62% in just three weeks—one of the year’s strongest performances compressed into that window. The month of December itself became the company’s best-performing month of 2025. From a strategic standpoint, liquidating equity after such a rally represents a textbook example of insider profit-taking at elevated valuations.

Additionally, context matters here. Intuitive Machines announced its acquisition of Lanteris Space Systems, a spacecraft manufacturer, in November, with the deal expected to close in Q1 2026. Pre-acquisition share sales by executives are not uncommon, as management sometimes exits positions ahead of potential post-merger volatility or dilution.

Company Context

Intuitive Machines operates in the expanding commercial space services sector. The company’s portfolio spans lunar access, orbital services, data collection, and space infrastructure—targeting both government and commercial clients. Current market metrics show a $2.73 billion market capitalization, trailing-twelve-month (TTM) revenue of $220.32 million, and TTM net losses of $208.64 million, reflecting the capital-intensive nature of aerospace development.

The Investor Takeaway

For shareholders monitoring insider activity, this sale reflects opportunistic portfolio management rather than a crisis signal. Executives selling after substantial stock appreciation, particularly as the year winds down, remains standard practice. The acquisition dynamics add another reasonable explanation layer. While frequent equity dispositions throughout 2025 warrant investor attention, this particular transaction shouldn’t trigger alarm—it appears consistent with disciplined insider activity following strong price momentum and ahead of material corporate developments.