Derrick Osmond Boston - 29 Dec 2021 Form 4 Insider Report for Virgin Orbit Holdings, Inc.

Role: Chief Legal Officer
Signature: /s/ Derrick Boston
Issuer symbol: N/A
Transactions as of: 29 Dec 2021
Net transactions value: $0
Form type: 4
Filing time: 03 Jan 2022, 20:13:26 UTC
Next filing: 06 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VORBQ	Common Stock	Award		+22,557			22,557	29 Dec 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Shares	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VORBQ	Stock Option	Award	+62,907	62,907	29 Dec 2021	Common Stock	62,907	$3.23	Direct	F1, F2
transaction	VORBQ	Stock Option	Award	+26,300	26,300	29 Dec 2021	Common Stock	26,300	$4.02	Direct	F1, F2
transaction	VORBQ	Stock Option	Award	+12,738	12,738	29 Dec 2021	Common Stock	12,738	$3.92	Direct	F1, F2
transaction	VORBQ	Stock Option	Award	+16,512	16,512	29 Dec 2021	Common Stock	16,512	$3.92	Direct	F1, F2
transaction	VORBQ	Stock Option	Award	+42,083	42,083	29 Dec 2021	Common Stock	42,083	$3.86	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to the business combination of NextGen Acquisition Corp. II and Vieco USA, Inc. ("Vieco USA"), each share of Vieco USA outstanding common stock was automatically cancelled and converted into the right to receive shares of the Issuer's Common Stock based on a 1-to-1.2503 conversion ratio (the "Conversion Ratio"). In addition, each outstanding Vieco USA equity award was automatically cancelled and converted into a corresponding equity award of the Issuer based on the Conversion Ratio and with the same terms and vesting conditions as the Vieco USA equity awards.
F2	The stock option vests and becomes exercisable as to 25% of the shares underlying the stock option on the one year anniversary of the vesting commencement date and thereafter as to 1/12th of the shares underlying the stock option on each quarterly anniversary of the vesting commencement date, subject to continued service through the applicable vesting date.

Content

Pursuant to the business combination of NextGen Acquisition Corp. II and Vieco USA, Inc. ("Vieco USA"), each share of Vieco USA outstanding common stock was automatically cancelled and converted into the right to receive shares of the Issuer's Common Stock based on a 1-to-1.2503 conversion ratio (the "Conversion Ratio"). In addition, each outstanding Vieco USA equity award was automatically cancelled and converted into a corresponding equity award of the Issuer based on the Conversion Ratio and with the same terms and vesting conditions as the Vieco USA equity awards.

The stock option vests and becomes exercisable as to 25% of the shares underlying the stock option on the one year anniversary of the vesting commencement date and thereafter as to 1/12th of the shares underlying the stock option on each quarterly anniversary of the vesting commencement date, subject to continued service through the applicable vesting date.