Intuitive Machines director Michael Blitzer entered a prepaid variable share forward contract on May 18, 2026. The agreement involves 1,608,000 shares of the company.
Blitzer received an upfront cash payment of approximately $44.5 million. The contract requires the delivery of shares or equivalent cash to an unaffiliated dealer in May 2028.
The final settlement amount depends on the stock price at the time of delivery. This transaction provides immediate liquidity while hedging against potential future price declines.