The reader's starting point
Vested does not always mean delivered
An employee may celebrate a vesting milestone and still see no tradable shares in the brokerage account. The service condition may be complete while settlement waits for another condition, an administrative process, or the schedule in the agreement.
The plan expressly separates vesting, payment, additional delivery restrictions, and forfeiture on termination, subject to the applicable RSU agreement.
Why the decision becomes consequential
The gap between two dates can carry tax and market risk
If the employee treats vesting, settlement, tax withholding, share delivery, lockup release, and sale eligibility as one event, cash planning and tax estimates can be wrong even when the share count is right.
- RSU agreement
- Vesting confirmation
- Settlement or release notice
- Payroll withholding record
- Brokerage share-delivery confirmation
The turning point
Build the timeline one tranche at a time
Create a tranche-level timeline with a separate column for each event. Add the share quantity, fair value used for payroll, shares withheld, net shares delivered, lockup status, and cost-basis record beside the dates.
Put service vesting, performance conditions, settlement, share delivery, withholding, lockup release, trading window, and eventual sale on separate timeline rows.
Where the answer can change
Double-trigger and agreement terms can change the sequence
The 2024 plan allows award-specific vesting and settlement provisions, and prior awards can remain under earlier plans. Public filings cannot reveal whether one employee has a single-trigger, double-trigger, delayed, or otherwise customized settlement schedule.
A double-trigger grant, delayed settlement, leave, termination, acquisition-related award, or foreign subplan can change the event and tax sequence.
A practical finish
Reconcile the award only when shares and records arrive
The tranche is complete when the award record, payroll statement, tax withholding, and brokerage delivery reconcile. Until then, “vested” is a milestone in the story—not necessarily the end of it.
This guide provides general education for SpaceX employees. It is not individualized financial, investment, tax, legal, benefits, or securities-law advice and is not a recommendation to buy, hold, sell, exercise, transfer, roll over, or donate an asset.
Frequently asked questions
Questions to take back to the documents
Why might vested SpaceX RSUs not appear in my brokerage account?
Settlement can follow a separate condition or schedule, and administrative delivery can occur later. Review the agreement, plan, payroll record, and company communication.
Which date usually matters for RSU tax reporting?
Tax treatment depends on the award and applicable law, but settlement or share delivery can be distinct from service vesting. Use the employer's payroll record and obtain tax advice.
Should I track RSUs by grant or by vesting tranche?
Track both. The grant identifies the governing agreement, while tranche-level records capture the actual dates, values, withholding, and delivered shares.
Primary sources
What this guide is based on
Sources were reviewed on the dates shown. Later plan amendments, filings, agreements, or employee communications may change the answer.
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