When MWH insiders can sell
SOLV Energy, Inc. · IPO prospectus filed 2026-02-11 · 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 MWH'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 178,915,436 shares, against 1,760,590 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 $45.1M a day. Middle third — no call.
Why there is no call on this deal
The numbers above are published, but no dated call was issued. A call only goes in the ledger when the expiry falls 15 to 45 days out, the prospectus states or implies a share count, and there are at least 20 sessions of volume — and the middle third of the cohort gets no call at all, because a call on every deal is not a call. Publishing one here would be padding the scoreboard with a coin flip.
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.
Morgan Securities LLC for a period of 180 days after the date of this prospectus. These agreements are subject to certain exceptions, as set forth in "Underwriting." In addition, following the expiration of the lock-up period, we expect that certain stockholders will have the right, subject to certain conditions, to require us to register the sale of their shares of our common stock under federal securities laws. See "Certain Relationships and Related Person Transactions—Registration Rights Agreement" for additional information. There will not be any maximum cash penalties or additional penalties resulting from delays in registering our common stock associated with such registration rights.
Where the share count comes from
178,915,436 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 | 199,415,436 |
| Shares sold in the offering | 20,500,000 |
| Underwriters' over-allotment option | 3,075,000 |
| Locked up, coming free at expiry | 178,915,436 |
Class A common stock to be outstanding after this offering 112,273,571 shares (115,348,571 shares if the underwriters exercise their option to purchase additional shares of Class A common stock in full). Option to purchase additional shares of Class A common stock The underwriters have an option to purchase up to 3,075,000 additional shares of Class A common stock from us to cover overallotments. The underwriters can exercise this option at any time within 30 days from the date of this prospectus. Class B common st…
Exceptions written into the lock-up (3)
Each of these is a route by which MWH shares can move before 2026-08-10. 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
- estate planning or family transfer
- option exercise or RSU settlement
…transactions, provided that such recipients enter into a lock-up agreement with the underwriters; (iv) facilitating the establishment of a trading plan on behalf of our stockholder, officer or director pursuant to Rule 10b5-1 under Regulation G of the Securities Exchange Act of 1934, as amended (the "Exchange Act") for the transfer of shares of Common Stock, provided that (a) such plan does not provide for the transfer of Common Stock during the Restricted Period and (b) to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by the Company regarding the establishment of such…
A related person includes (i) our directors, director nominees or executive officers, (ii) any 5% record or beneficial owner of our common stock or (iii) any immediate family member of the foregoing. In reviewing and approving any related person transaction, the Audit Committee is tasked to consider all of the relevant facts and circumstances, and consideration of various factors enumerated in the policy. Unit Redemption and Loan Agreement On December 20, 2025, SOLV Energy Parent Holdings LP redeemed the units held by a minority investor for $112.5 million. In connection…
…0,000 additional shares of Class A common stock reserved for future issuance under the 2026 Plan that we intend to adopt at the time of this offering, including 3,077,446 shares of Class A common stock issuable upon the exercise of stock options granted in connection with this offering to certain holders of Class C Units (as defined herein) with an exercise price per share equal to the initial public offering price, and 267,000 shares of Class A common stock issuable upon the settlement of restricted stock units granted in connection with this offering to all employees with at least one year of service with us, see "Executive and Di…
How this reading of MWH could be wrong
The lock-up period is restated 6 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. MWH 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 MWH 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 | — | — |
| FPS Forgent Power Solutions, Inc. | 2026-08-05 | 287.8M | 25.4 sessions |
| OFRM Once Upon a Farm, PBC | 2026-08-08 | 32.6M | 35.3 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 · MWH's prospectus on EDGAR · what funds carried these companies at before listing