# Lockup Period A contractual restriction preventing insiders (founders, executives, early investors, employees) from selling shares for a set period after an IPO — typically 90–180 days. Designed to prevent a flood of insider selling from crashing the stock price immediately after listing. Lockup expiration is one of the most predictable and significant events in a newly public company's life. When [[Palantir]]'s lockup expired in early 2021, insider selling (particularly by [[Alex Karp]] and [[Peter Thiel]]) became a recurring narrative event tracked in the [[Palantir Watch Log]]. The pattern of sustained founder selling after lockup — selling economic interest while retaining voting control through Class F shares — is a key indicator the vault monitors. For [[OpenAI]]'s eventual IPO, the lockup terms will determine when the $852B private valuation meets public-market reality. If insiders begin selling immediately after lockup, it signals they believe the private valuation was the peak. Lockup terms will be disclosed in the S-1. ## See Also - [[Palantir Watch Log]] — post-lockup insider selling tracked