Space Exploration Technologies Corp. (SpaceX) (SPCX) — Reincorporation detail

Announcement

2024-02-14

First SEC disclosure

Meeting / Vote

2024-02-14

COMPLETED

Effective

—

Legal effective date

Market Cap

$1.77T

At announcement

Why this firm matters

At $1.77T pre-move market value, Space Exploration Technologies Corp. (SpaceX) is among the largest firms in the cohort and carries disproportionate weight in market-value-weighted aggregates.

Controller & ownership

DE FACTO CONTROLLERFounder Ceo Controller

Elon Musk (controlling shareholder) is the largest disclosed voting holder. Effective controller under Delaware/common-law definition though not strict listing-rule (>50%) controlled.

Vote outcome — reincorporation proposal

Approval standard: majority of votes cast. Meeting type: annual.

Vote totals not yet pulled. Awaiting EDGAR Item 5.07.

Event-study abnormal returns — announcement window

Returns around the announcement date.

No announcement-window CARs available for this firm yet.

Event-study abnormal returns — vote window

Returns around the shareholder-vote (or written-consent) date.

No vote-window CARs available for this firm yet.

Long-run abnormal returns & pooled estimates

Buy-and-hold abnormal returns (1 / 3 / 6 / 12 months) and calendar-time portfolio alpha (CTE) post-effective.

No long-run / pooled estimates available for this firm yet — run phase5z_compute_longrun.py on Windows to populate (requires effective date ≥ 3 months ago).

Cohort-level robustness battery

Heckman selection-corrected ATE · Romano-Wolf step-down + BH FDR · pooled BHAR. This firm's reading is shown in context of the full cohort.

Heckman two-step selection correction (controlled-vs-widely-held)

Cohort ATE = +0.94% (SE = 7.06%, n = 2395) after correcting for controller-status selection (inverse Mills ratio = -0.062).

Romano-Wolf step-down + Benjamini-Hochberg FDR (n = 47)

This firm: per-firm adjusted p-values pending. Multiple-hypothesis correction is computed across the full cohort to control family-wise error rate at alpha = 0.05.

Pooled cohort BHAR (mover firms only)

BHAR_63d: mean = -5.60% (SE = 22.11%, n = 3, p = 0.499) · BHAR_126d: mean = +17.33% (SE = 41.17%, n = 3, p = 0.774)

See Cohort event study → for the full battery and forest plots.

Texas Statutory Adoptions

Status: N/A pending reincorporation.

The Texas opt-in statutory regimes (TBOC §21.552 / SB 29 derivative threshold; TBOC §21.373 / SB 1057 shareholder-proposal threshold) are available only to firms that are nationally listed Texas corporations. Space Exploration Technologies Corp. (SpaceX) is not yet Texas-incorporated; the move is pending shareholder vote with a proposed effective date of TBD. These adoptions can be elected only on or after the firm's TX effective date.

Source filings

Primary-source documents on SEC EDGAR plus IR / search links.

Source filings pending EDGAR backfill. No primary-source filings are presently linked in the canonical record for this firm. Until backfill completes, see SEC EDGAR company browse (CIK 0001181412) → for the live filings list.

Classification & audit trail

Bucket

Panel eligibility

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Audit status

VERIFIED_EDGAR_HEADER_2026-05-30_PENDING_S1_NARRATIVE

Source confidence

—

Transaction status

COMPLETED

Audit notes

Added 2026-05-30 per Shane directive. PRIVATE pre-IPO entity (S-1 IPO registration filed 2026-05-20). EDGAR primary source: acc 0001628280-26-036936 (S-1). Supporting EDGAR evidence: (1) EDGAR header on all filings post-2024 shows 'State of Inc.: TX' for CIK 0001181412; (2) mailing/business address listed in EDGAR as 1 Rocket Road, Starbase, TX 78521; (3) 17 historical Form D filings 2002-2022 under same CIK predate the reincorporation. Day-level dates (announcement / effective) deferred pending pull of the S-1 'Corporate History' section -- year-month approximation 2024-02 derives from inferred date of EDGAR header state change. Market cap intentionally not refreshed: private; no public quote; IPO ~mid-2026. Listed by leavedelaware.org at private valuation but excluded from SMU CGI aggregate_market_cap_usdmm by design (R-1: private valuations are not market-tested).
[2026-05-31 rev110] SpaceX DATE CORRECTION per external red-team: 2026-05-20 was bogus (likely contamination from Starbase municipal incorporation event). Correct DE→TX dates per AP/CNBC/CNN/Reuters: announcement + effective both 2024-02-14 (same Wednesday Musk posted on X + Texas SOS Jane Nelson issued cert). primary_source_url was a non-applicable EDGAR ref (SpaceX is private — no Item 5.03); replaced with AP report. approval_method: PRIVATE_COMPANY_ACTION (the WRITTEN_CONSENT inference is plausible but unverified — no public source confirms the internal mechanism). row_class: WATCHLIST_PRIVATE (not PRIVATE_PRE_IPO — no announced IPO). panel_b_dexit_mover: 1→0 (private companies don't count toward public-company headline). source_status: NEEDS_STATE_FILING_COPY (Texas SOS SOSDirect cert pending).