When FPS insiders can sell
Forgent Power Solutions, Inc. · IPO prospectus filed 2026-02-06 · Single cliff · 180-day lock-up
That is the calendar date the clause computes to, counted from the prospectus date. It is the only date computable without knowing a future earnings date, which is why everything that could pull it earlier is printed below it on this page rather than folded into it.
How much stock, against how much trades
"Absorb days" is the shares coming free divided by average daily volume: how many full sessions of FPS's entire turnover the release amounts to. It is a ratio, not a forecast — it does not know who wants to sell, and a founder with no intention of selling counts the same as a fund that has been waiting six months.
Exactly 287,842,462 shares, against 11,342,370 shares a day averaged over 20 sessions. Volume source: yahoo-finance2 daily bars (symbol not in our price table), through 2026-11-06. Dollar volume $220.9M a day. Lightest third of the cohort.
Our call: Absorbed
FPS sits in the lightest third of a cohort of 47 deals — lightest third at or below 54.1 sessions, heaviest at or above 109 sessions. The call is cohort-relative, not a fixed threshold, so the same absorb-day figure could read differently against a different month's IPOs. Expected excess return against SPY: non-negative.
The lock-up clause, in the issuer's words
Every other free lock-up calendar tells you 180 days and moves on. This is the actual sentence the date above was computed from, so that if the words do not support the number, the number is wrong and the filing is one click away.
Notwithstanding the foregoing, if (i) at least 170 days have elapsed since the date of this prospectus and the period ending 180 days after the date of this prospectus is scheduled to end during, or within five trading days prior to, a Blackout Period, then the 180-day period will end ten trading days prior to the commencement of such Blackout Period. 199 Table of Contents Two of Goldman Sachs & Co. LLC, Jefferies LLC and Morgan Stanley & Co. LLC may, in their sole discretion and at any time or from time to time before the termination of such 180-day period release all or any portion of the securities subject to lock-up agreements. There are no existing agreements between the underwriters and any of our stockholders who will execute a lock-up agreement providing consent to the sale of shares prior to the expiration of the lock-up period.
Where the share count comes from
287,842,462 shares — derived: shares outstanding after the offering, less the shares sold in it. A count the prospectus prints and a count derived from two of its other numbers are not the same quality of claim, so which one this is gets said rather than implied.
| Shares outstanding after the offering | 304,428,889 |
| Shares sold in the offering | 16,586,427 |
| Underwriters' over-allotment option | 2,487,964 |
| Sold by existing holders in the IPO | 39,413,573 |
| Locked up, coming free at expiry | 287,842,462 |
Shares of Class A Common Stock to Be Outstanding After this Offering 230,847,681 shares (233,335,645 shares if the underwriters exercise their option to purchase additional shares of Class A common stock in full). Shares of Class B Common Stock to Be Outstanding After this Offering 73,581,208 shares (71,093,244 shares if the underwriters exercise in full their option to purchase additional shares of Class A common stock). Opco LLC Interests to Be Held Indirectly by Us After this Offering 230,847,681 Opco LLC Interests (233,335,645 Opco LLC Interests if the underwriters exercise in full their option to purchase additional shares of Class A common stock).
Exceptions written into the lock-up (4)
Each of these is a route by which FPS shares can move before 2026-08-05. The 10b5-1 carve-out is the one worth reading twice: it lets insiders put a selling plan in place during the lock-up, so the first sales can be automatic and immediate rather than discretionary and later.
- 10b5-1 plan
- bona fide gift or charitable transfer
- estate planning or family transfer
- option exercise or RSU settlement
…ic disclosure or filing under the Exchange Act by any party to the transfer shall clearly indicate the circumstances of such transfer described in this clause; (f) establishing or amending trading plans pursuant to Rule 10b5-1 under the Exchange Act for the transfer of shares of Class A common stock or Related Securities; provided that such plan or amendment does not provide for the transfer of shares of Class A common stock or Related Securities during the 180-day period, and to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by or on behalf of the lock-up party or the C…
…lock-up agreements), or if the lock-up party is a trust, to a trustor or beneficiary of the trust or to the state of the beneficiary of the trust, (iii) by gift, (iv) for bona fide estate planning purposes, including to charitable organizations or educational organizations, (v) to a partnership, limited liability company or other entity of which the lock-up party and/or a Family Member are the beneficial owner(s) of all of the outstanding equity securities or similar interests of such entity or (vi) to a nominee or custodian of a person or entity to whom a transfer would be permissible under subclauses (i) through (v) of this paragraph; provided that: such transfer does not involve a disposition for value, each transferee executes and delivers to each of Goldman Sachs & Co.
…to which we are a party in which the amount involved exceeded or exceeds $120,000 and in which any of our directors, executive officers, holders of more than 5% of any class of our voting securities or any member of the immediate family of any of the foregoing persons, had or will have a direct or indirect material interest, other than compensation arrangements with directors and executive officers, which are described under "Executive and Director Compensation." History of the Company and Partnership with Neos In 2023 and 2024, affiliates of Neos completed the following acquisitions: On October 31, 2023, Forgent Parent I LP and its…
In addition, you may also experience additional dilution upon future equity issuances, the exercise of stock options to purchase shares of Class A common stock granted to our employees and directors under our stock option and equity incentive plans or the exercise of warrants to purchase shares of Class A common stock. See "Dilution." As an emerging growth company within the meaning of the Securities Act, we may utilize certain modified disclosure requirements, and we cannot be certain if these reduced requirements will make shares of Class A common stock less attractive to investors.
How this reading of FPS could be wrong
The lock-up period is restated 2 times in this prospectus. Issuers repeat the clause on the cover, in the summary, in the risk factors and in the underwriting section, and the wording is not always identical. The parser resolved them to one period; if a reader finds a restatement that disagrees, the quote above is the one it used.
The volume is a vendor's, not ours. FPS is not in our own price table, so average daily volume comes from yahoo-finance2 daily bars (symbol not in our price table). Vendor bars for recently listed symbols are the ones most likely to be wrong.
Only 20 sessions of volume history. This is a recent IPO, and early volume is dominated by the offering itself. An average over 20 sessions of a stock that has barely traded is the weakest input on the page, and absorb days inherits every bit of that weakness.
The parser can misread a filing. That is why every number here is printed next to the words it came from. Earlier versions of this parser read the underwriters' 30-day over-allotment window as a 30-day lock-up on five deals, and double-counted one issuer's share total because the offering summary appears on both the cover and in the summary section.
Also unlocking in 2026-08 (9)
Lock-ups cluster, because IPOs cluster: these priced in the same window as FPS and come free in the same month. Several heavy releases landing together is a different situation from one.
| Deal | Expiry | Shares free | Absorb days |
|---|---|---|---|
| MANE Veradermics, Inc | 2026-08-03 | 20.0M | 29.9 sessions |
| EIKN Eikon Therapeutics, Inc. | 2026-08-04 | 32.9M | 62.2 sessions |
| BOBS Bob's Discount Furniture, Inc. | 2026-08-04 | 110.9M | 115 sessions |
| SGP SpyGlass Pharma, Inc. | 2026-08-05 | 22.5M | 216 sessions |
| AGMB Agomab Therapeutics NV | 2026-08-05 | — | — |
| OFRM Once Upon a Farm, PBC | 2026-08-08 | 32.6M | 35.3 sessions |
| MWH SOLV Energy, Inc. | 2026-08-10 | 178.9M | 102 sessions |
| APC ARKO Petroleum Corp. | 2026-08-12 | — | — |
| GENB Generate Biomedicines, Inc. | 2026-08-26 | 102.5M | 102 sessions |
Learn to read these clauses yourself
The flow arithmetic on this page — shares unlocking divided by average daily volume, and why the clause has to be read rather than assumed — taught step by step, free.
Radar built 2026-11-07 from EDGAR full-text search over 424B4 filings · all 80 parsed lock-ups and the scoreboard · FPS's prospectus on EDGAR · what funds carried these companies at before listing