Key facts
- This page summarizes Gregory L. Summe's Form 4 filing for Virgin Orbit Holdings, Inc..
- 6 reported transactions and 4 derivative rows are listed below.
- Accepted by SEC: 03 Jan 2022, 20:17.
Gregory L. Summe - 13 Apr 2021 Form 4 Insider Report for Virgin Orbit Holdings, Inc.
- Reporting relationship
- Director
- Issuer ticker
- N/A
- Reported as of
- 13 Apr 2021
- Net transaction value
- +$20,819,818
- SEC form
- 4
- Accepted by SEC
- 03 Jan 2022, 20:17:14 UTC
- Next SEC filing
- 21 May 2021
- Source filing
- View source filing
- Reporting owner signature
- /s/ Derrick Boston, Attorney-in-fact
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Gregory L. Summe filed Form 4 for Virgin Orbit Holdings, Inc. on 03 Jan 2022.
Change
- No earlier filing in this sequence is available for direct comparison.
- Current net transaction value: +$20,819,818.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
VORBQ
transaction
Common Stock
Award
- Transaction value
- $3,900,000
- Shares
- +390,000
- Change %
- Price
- $10.00*
- Shares after
- 390,000
- Date
- 29 Dec 2021
- Ownership
- Direct
- Footnotes
- F1
VORBQ
transaction
Common Stock
Conversion of derivative security
- Transaction value
- Shares
- +8,799,864
- Change %
- Price
- Shares after
- 8,799,864
- Date
- 29 Dec 2021
- Ownership
- See footnote
- Footnotes
- F1, F2, F3
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
VORBQ
transaction
Derivative
Class B Ordinary Shares
Disposed to Issuer
- Transaction value
- Shares
- -497,636
- Change %
- -4.9%
- Price
- Shares after
- 9,564,864
- Date
- 13 Apr 2021
- Ownership
- See Footnote
- Underlying class
- Common Stock
- Underlying amount
- 497,636
- Exercise price
- Footnotes
- F3, F4
VORBQ
transaction
Derivative
Class B Ordinary Shares
Disposed to Issuer
- Transaction value
- Shares
- -765,000
- Change %
- -8%
- Price
- Shares after
- 8,799,864
- Date
- 29 Dec 2021
- Ownership
- See Footnote
- Underlying class
- Common Stock
- Underlying amount
- 765,000
- Exercise price
- Footnotes
- F3, F5
VORBQ
transaction
Derivative
Class B Ordinary Shares
Conversion of derivative security
- Transaction value
- Shares
- -8,799,864
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 29 Dec 2021
- Ownership
- See Footnote
- Underlying class
- Common Stock
- Underlying amount
- 8,799,864
- Exercise price
- Footnotes
- F2, F3
VORBQ
transaction
Derivative
Private Placement Warrants
Award
- Transaction value
- $16,919,818
- Shares
- +6,767,927
- Change %
- Price
- $2.50*
- Shares after
- 6,767,927
- Date
- 29 Dec 2021
- Ownership
- See Footnote
- Underlying class
- Common Stock
- Underlying amount
- 6,767,927
- Exercise price
- $11.50
- Footnotes
- F3, F6
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 6 footnotes
Footnote F1
Reflects Issuer's common stock acquired from the Issuer pursuant to a Subscription Agreement in connection with the business combination of NextGen Acquisition Corp. II (the former name of the Issuer ("NGCA") and Vieco USA, Inc. ("Vieco USA") (such business combination, the "Business Combination"), which closed on December 29, 2021.
Footnote F2
Pursuant to the Business Combination, NGCA domesticated as a Delaware corporation and changed its name to "Virgin Orbit Holdings, Inc." and each NGCA Class B ordinary share that was issued and outstanding as of immediately prior to the domestication was automatically converted into one share of the Issuer's common stock upon the domestication.
Footnote F3
Reflects securities held by NextGen Sponsor II LLC (the "Sponsor"). The reporting person and George Mattson may be deemed to beneficially own shares held by the Sponsor by virtue of their shared control over the Sponsor. Mr. Summe disclaims beneficial ownership of the Class B ordinary shares reported herein except to the extent of his pecuniary interest therein.
Footnote F4
On April 13, 2021, the Sponsor surrendered 497,636 NGCA Class B ordinary shares for no consideration upon the partial exercise of the over-allotment by Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC (the "Underwriters") in connection with NGCA's initial public offering.
Footnote F5
Pursuant to the terms of a Letter Agreement, dated as of December 28, 2021, by and among NGCA and the Sponsor, the Sponsor surrendered 765,000 NGCA Class B ordinary shares as of immediately prior to the Domestication for no consideration.
Footnote F6
Reflects Private Placement Warrants acquired from the Issuer in connection with the Issuer's initial public offering. Each warrant is exercisable for one share of the Issuer's common stock at an exercise price of $11.50 per share, subject to certain adjustments. The warrants may be exercised commencing on March 25, 2022 and expire on December 29, 2026 or earlier upon redemption or liquidation.
SEC remarks
Exhibit 24 - Power of Attorney.