Daniel M. Hart - Jan 4, 2022 Form 4 Insider Report for Virgin Orbit Holdings, Inc. (VORBQ)

Signature
/s/ Derrick Boston, Attorney-in-fact
Stock symbol
VORBQ
Transactions as of
Jan 4, 2022
Transactions value $
$0
Form type
4
Date filed
1/6/2022, 04:45 PM
Previous filing
Jan 3, 2022

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

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction VORBQ Stock Option Award $0 +820K $0.00 820K Jan 4, 2022 Common Stock 820K $6.83 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The stock option vests and becomes exercisable as to 25% of the shares underlying the stock option on December 29, 2022, and the remaining 75% of the shares underlying the stock option will vest in six substantially equal installments on each successive six-month anniversary of December 29, 2021, subject to continued service through the applicable vesting date. In addition, the Reporting Person's stock option will vest and become exercisable in full upon a termination of employment without "cause" or for "good reason."