PART 57 / 63 spaceX招股书

全部股权计划（SpaceX + xAI + Swarm）+ EchoStar + Cursor 期权

ENGLISH · ORIGINAL

The term "Equity Plans" in this prospectus refers to our 2015 Plan, our A&R 2017 ESPP and our A&R 2024 Plan as well as (i) xAI's 2023 Equity Incentive Plan, 2023 Incentive Plan and 2025 Equity Incentive Plan, each of which we assumed in the xAI Merger (the "xAI Plans") and (ii) the 2017 Stock Plan, as amended, of Swarm Technologies, Inc. ("Swarm"), which we assumed in our acquisition of Swarm in 2021. The information in this prospectus also does not reflect: • the payment of 261,792,453 shares of Class A common stock and cash consideration which would occur upon closing of our agreement with EchoStar Corporation ("EchoStar") to purchase certain AWS-3, AWS-4, and H-Block spectrum licenses pursuant to the License Purchase Agreement, dated as of September 7, 2025 (as amended and restated on November 5, 2025), by and among SpaceX, Spectrum Business Trust 2025-1 and EchoStar (the "Spectrum Transaction"), which transaction was approved by the FCC on May 12, 2026 and is subject to other closing conditions prior to completion; and • the issuance of shares of our Class A common stock if in the future our board determines to exercise our option to acquire Cursor as such option is described under "Business—Collaboration with Cursor," which, as an example, assuming the volume-weighted average closing price of our common stock over the seven consecutive trading days immediately preceding the closing of such acquisition were equal to the initial public offering price of $ per share (which is the midpoint of the price range set forth on the cover of this prospectus), would equal approximately shares.

中文翻译

全部股权计划（SpaceX + xAI + Swarm）+ EchoStar + Cursor 期权

"股权计划"这个术语——在本招股书中——包括我们的——

• 2015 计划；

• A&R 2017 ESPP；

• A&R 2024 计划；

• 以及——

• (i) xAI 的 2023 股权激励计划、2023 激励计划、2025 股权激励计划——这些是我们在 xAI 并购中承接下来的（合称"xAI 计划"）；

• (ii) Swarm Technologies, Inc. 的 2017 股权计划（已修订）——这是我们在 2021 年收购 Swarm 时承接下来的。

本招股书的信息还不反映：

• 根据 SpaceX、Spectrum Business Trust 2025-1 和 EchoStar Corporation 之间的"许可购买协议"（2025 年 9 月 7 日签订，2025 年 11 月 5 日修订重述）——收购某些 AWS-3、AWS-4 和 H-Block 频谱许可——完成时将支付的 261,792,453 股 A 类普通股 + 现金对价（"频谱交易"）。该交易于 2026 年 5 月 12 日获 FCC 批准——完成前还需满足其他交割条件。

• 如果未来我们董事会决定行使收购 Cursor 的期权——按"业务—与 Cursor 合作"那一节的描述——将要发行的 A 类普通股。举例来说——假设收购完成前 7 个交易日我们普通股的成交量加权平均收盘价 = 招股书封面价格区间的中点 $_____ / 股——将发行约 _____ 股。

📝 翻译者注

• "xAI Plans"：xAI 三套股权激励计划——2023 计划（初始）+ 2023 Incentive Plan（可能给高管）+ 2025 计划（最近合并前给关键人）——SpaceX 在 2026 年 2 月收购 xAI 时"原样承接"——这些计划的归属和行权都会导致 SpaceX 未来发行新股。

• "Swarm Technologies"：一家做"微型卫星物联网"的公司——2021 年被 SpaceX 悄悄收购——它的 2017 股权计划被承接。

• "EchoStar 频谱交易 261,792,453 股"：2025 年 9 月披露的"SpaceX 用股票 + 现金从 EchoStar 买频谱"的交易——频谱对 Starlink 直接连接手机业务至关重要——FCC 于 2026 年 5 月 12 日批准——完成后 SpaceX 立即拿到关键频谱资源。

• "AWS-3 / AWS-4 / H-Block"：都是美国 FCC 拍卖的特定频段——最适合做"卫星—手机直连"。

🪓 2026 Stock Split