Virgin Galactic Reports Inducement Award Under NYSE Listing Rule 303A.08

Key Terms

restricted stock unit financial

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

inducement award financial

An inducement award is a special cash or equity payment given to a new hire—often an executive or key employee—outside the company’s regular pay plans to persuade them to join. Think of it like a signing bonus that can align the new person’s goals with shareholders but also represents a cost and can reduce existing owners’ percentage of the company, so investors watch these awards for their impact on ownership and future performance.

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ORANGE COUNTY, Calif.--(BUSINESS WIRE)--

Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic”) announced that the Compensation Committee of Virgin Galactic’s Board of Directors approved the grants of time-based inducement restricted stock unit awards covering an aggregate of 141,295 shares of Virgin Galactic common stock to two new non-executive employees, each effective July 15, 2026.

The awards were granted under Virgin Galactic’s Second Amended and Restated 2023 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Virgin Galactic. The restricted stock unit awards will vest over a three-year period with approximately one third of the units vesting on each anniversary of the grant date, subject to each recipient’s continued service. The awards were granted as an inducement material to the new employees entering into employment with Virgin Galactic, in accordance with NYSE Listing Rule 303A.08.

About Virgin Galactic

Virgin Galactic is an aerospace and space travel company, pioneering human-first spaceflight for private individuals, researchers, and governments with its advanced SpaceShips and launch vehicle. Scale and profitability are driven by next generation vehicles capable of taking humans to space at an unprecedented frequency with an industry-leading cost structure. You can find more information at https://www.virgingalactic.com.

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For media inquiries:
Aleanna Crane - Vice President, Communications
news@virgingalactic.com
575.800.4422

For investor inquiries:
Eric Cerny - Vice President, Investor Relations
vg-ir@virgingalactic.com
949.774.7637

Source: Virgin Galactic Holdings, Inc.