Sarah E. Kim - Dec 5, 2022 Form 4 Insider Report for Virgin Galactic Holdings, Inc (SPCE)

Signature
/s/ Sarah E. Kim
Stock symbol
SPCE
Transactions as of
Dec 5, 2022
Transactions value $
$0
Form type
4
Date filed
12/7/2022, 06:08 PM
Next filing
Jun 20, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SPCE Common Stock Award $0 +43.6K $0.00 43.6K Dec 5, 2022 Direct F1
transaction SPCE Common Stock Award $0 +145K +333.34% $0.00 189K Dec 5, 2022 Direct F2
transaction SPCE Common Stock Award $0 +48.5K +25.64% $0.00 237K Dec 5, 2022 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents an award of restricted stock units (the "RSUs"), which will vest with respect to 50% of the RSUs on June 5, 2023 and the remaining 50% of the RSUs will vest on December 5, 2023, subject to the Reporting Person's continued service through the applicable vesting date. The RSUs will be settled in shares of the Issuer's common stock upon vesting.
F2 Represents an award of RSUs, which will vest with respect to 25% of the RSUs on December 5, 2023 and the remaining 75% of the RSUs will vest in 12 quarterly installments beginning on December 5, 2023, subject to the Reporting Person's continued service through the applicable vesting date. The RSUs will be settled in shares of the Issuer's common stock upon vesting.
F3 Represents an award of performance share units ("PSUs"), each of which represents a contingent right to receive one share of the Issuer's common stock. The PSUs will vest based on the achievement of growth rates in the price of the Issuer's common stock between the award date and March 16, 2025, subject to earlier vesting in certain circumstances described in the applicable award agreement. The amount reported herein represents the target amount under the PSU award.

Remarks:

Reporting Person's title: Executive Vice President and Chief Legal Officer