Virgin Investments Ltd - Nov 1, 2023 Form 4 Insider Report for Virgin Galactic Holdings, Inc (SPCE)

Role
Former 10% Owner
Signature
Virgin Investments Limited By: /s/ James Cahillane, Attorney-in-fact
Stock symbol
SPCE
Transactions as of
Nov 1, 2023
Transactions value $
$0
Form type
4
Date filed
11/3/2023, 04:12 PM
Previous filing
Apr 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding SPCE Common Stock 30.7M Nov 1, 2023 See footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Virgin Investments Ltd is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On November 1, 2023, Sir Richard Branson transferred all of the ordinary shares of Virgin Group Holdings Limited ("VGHL") to BFT (PTC) Limited ("PTC"), in its capacity as trustee of trusts for the benefit of members of his family and related philanthropic causes. The aggregate beneficial ownership of the securities of the Issuer held by Virgin Investments Limited ("VIL") is unchanged as a result of this transaction. This Form 4 is being filed to report that the Reporting Persons are no longer beneficial owners of 10% or more of the common stock of the Issuer.
F2 VIL is the record holder of the common stock reported herein, whose sole shareholder is Corvina Holdings Limited ("Corvina"), whose sole shareholder is VGHL. PTC, in its capacity as trustee of trusts for the benefit of members of Sir Richard Branson's family and related philanthropic causes, is the sole holder of voting shares of VGHL. Under the terms of the trusts, BFT CLG (PTC) Limited has certain consent rights with respect to the exercise by PTC of its control over VGHL. Sir Richard Branson indirectly has the ability to control the appointment and removal of the management of VGHL and, as such, he may be deemed to indirectly control the decisions of VGHL, regarding the voting and disposition of securities owned by VGHL. As a result, each of the foregoing entities and Mr. Branson may be deemed to share beneficial ownership of the securities held by VIL.
F3 In connection with an internal restructuring, Virgin Group Investments LLC ("VGIL") was removed from the corporate group structure. Corvina became the sole shareholder of VIL, and accordingly, VGIL ceased to share beneficial ownership of the securities held by VIL.

Remarks:

Exhibit List - Exhibit 24 - Power of Attorney