Investing.com -- SpaceX will reserve up to 5% of shares in its upcoming initial public offering for certain employees and friends and family of its executive officers, the company disclosed in an amended filing.

The amount of Class A stock the company is setting aside for its directed share program is newly specified in an updated prospectus filed Monday. Space Exploration Technologies Corp. already had disclosed last month that participants on its so-called friends and family list will not be subject to a lock-up restriction.

Although directed share programs are common in IPOs, participants are usually required to observe lock-ups that limit immediate share sales. SpaceX noted in the filing that over 60% of shares outstanding before the IPO—including those held by CEO Elon Musk—will be under an extended lock-up period.

SpaceX is currently targeting a valuation of at least $1.8 trillion in the IPO, according to several media reports. Bloomberg previously reported in April that the company was aiming for a valuation above $2 trillion.

The U.S. Space Force said Friday it has awarded SpaceX a $4.16 billion deal for a program designed to sense and track airborne targets from space.

The Space-Based Advanced Moving Target Indicator is designed as an interconnected system-of-systems, combining space-based sensors, secure communications links and ground processing to drive closer cooperation across the government space industrial base.