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

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Virgin Galactic Holdings, Inc. (NYSE: SPCE) has announced the approval of inducement restricted stock unit awards for three new non-executive employees. The Compensation Committee of Virgin Galactic's Board of Directors granted these awards, covering a total of 42,018 shares of Virgin Galactic common stock, effective September 15, 2024. These awards, granted under the company's 2023 Employment Inducement Incentive Award Plan, are designed to attract new talent to the company.

The vesting schedule for these awards spans four years, with 25% of the shares vesting on the first anniversary of the grant date, and the remaining 75% vesting over the subsequent 12 quarters, contingent on continued employment. This action aligns with NYSE Listing Rule 303A.08, which allows for equity-based compensation as an inducement for new employees joining the company.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) ha annunciato l'approvazione di premi di unità azionarie ristrette per induzione per tre nuovi dipendenti non esecutivi. Il Comitato Compensazioni del Consiglio di Amministrazione di Virgin Galactic ha concesso questi premi, coprendo un totale di 42.018 azioni ordinarie di Virgin Galactic, con effetto dal 15 settembre 2024. Questi premi, concessi nell'ambito del Piano di Premi per Induzione al Lavoro 2023 dell'azienda, sono progettati per attrarre nuovi talenti nella compagnia.

Il programma di maturazione di questi premi si estende su quattro anni, con il 25% delle azioni che maturano al primo anniversario della data di concessione, e il restante 75% che matura nei successivi 12 trimestri, subordinato al mantenimento dell'impiego. Questa azione è in linea con la Regola di Quotazione NYSE 303A.08, che consente compensi basati su azioni come incentivo per i nuovi dipendenti che entrano nell'azienda.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) ha anunciado la aprobación de bonificaciones de unidades de acciones restringidas por inducción para tres nuevos empleados no ejecutivos. El Comité de Compensaciones de la Junta Directiva de Virgin Galactic otorgó estos premios, que cubren un total de 42,018 acciones ordinarias de Virgin Galactic, con efecto desde el 15 de septiembre de 2024. Estos premios, otorgados bajo el Plan de Incentivos por Inducción al Empleo 2023 de la empresa, están diseñados para atraer nuevo talento a la compañía.

El cronograma de adquisición de estos premios se extiende por cuatro años, con el 25% de las acciones adquiriendo derechos en el primer aniversario de la fecha de concesión y el 75% restante adquiriendo derechos en los siguientes 12 trimestres, condicionado a la continuidad del empleo. Esta medida se alinea con la Regla de Cotización NYSE 303A.08, que permite la compensación basada en acciones como un incentivo para los nuevos empleados que se unen a la empresa.

버진 갤럭틱 홀딩스(뉴욕 증권 거래소: SPCE)는 세 명의 신규 비상임 직원에 대한 유인 제한 주식 단위 보상 승인을 발표했습니다. 버진 갤럭틱 이사회 보상위원회는 이 보상을 승인했으며, 총 42,018주의 버진 갤럭틱 보통주를 포함하며, 2024년 9월 15일부터 시행됩니다. 이 보상은 회사를 위한 신규 인재 유치를 위해 설계된 2023 고용 유인 인센티브 보상 계획의 일환으로 제공됩니다.

이 보상의 가치는 4년에 걸쳐 배분되며, 보상 부여일 첫 번째 기념일에 25%의 주식이 귀속되고, 나머지 75%는 이후 12분기에 걸쳐 귀속되며, 계속 고용 조건이 부여됩니다. 이 조치는 NYSE 상장 규칙 303A.08과 일치하며, 이는 신규 직원 유인을 위한 주식 기반 보상을 허용합니다.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) a annoncé l'approbation de récompenses en unités d'actions restreintes incitatives pour trois nouveaux employés non exécutifs. Le Comité de Rémunération du Conseil d'Administration de Virgin Galactic a accordé ces récompenses, portant sur un total de 42 018 actions ordinaires de Virgin Galactic, avec effet à compter du 15 septembre 2024. Ces récompenses, accordées dans le cadre du Plan d'incitation à l'emploi 2023 de l'entreprise, visent à attirer de nouveaux talents au sein de l'entreprise.

Le calendrier d'acquisition de ces récompenses s'étend sur quatre ans, avec 25 % des actions acquérant des droits au premier anniversaire de la date d'attribution, et les 75 % restants acquérant des droits au cours des 12 trimestres suivants, sous réserve d'une poursuite de l'emploi. Cette action est conforme à la règle d'inscription NYSE 303A.08, qui permet une rémunération en actions comme incitatif pour les nouveaux employés rejoignant l'entreprise.

Virgin Galactic Holdings, Inc. (NYSE: SPCE) hat die Genehmigung von eingeschränkten Aktieneinheiten als Anreiz für drei neue nicht-executive Mitarbeiter bekannt gegeben. Der Vergütungsausschuss des Vorstandes von Virgin Galactic hat diese Auszeichnungen genehmigt, die insgesamt 42.018 Aktien der Virgin Galactic Stammaktien umfassen, wirksam ab dem 15. September 2024. Diese Auszeichnungen, die im Rahmen des 2023 Anreizplan für die Beschäftigung des Unternehmens gewährt werden, sind darauf ausgelegt, neue Talente für das Unternehmen zu gewinnen.

Der Vesting-Zeitraum für diese Auszeichnungen erstreckt sich über vier Jahre, wobei 25% der Aktien am ersten Jahrestag des Gewährungsdatums vesten und die restlichen 75% in den folgenden 12 Quartalen vesten, abhängig von der anhaltenden Beschäftigung. Diese Maßnahme entspricht der NYSE Listungsregel 303A.08, die eine aktienbasierte Vergütung als Anreiz für neue Mitarbeiter, die dem Unternehmen beitreten, zulässt.

Positive
  • Attraction of new talent through equity-based compensation
  • Implementation of a long-term vesting schedule to encourage employee retention
Negative
  • Potential dilution of existing shareholders' stock value

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 42,018 shares of Virgin Galactic common stock to three new non-executive employees, each effective September 15, 2024.

The awards were granted under Virgin Galactic’s 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 four-year period: 25% of the underlying shares will vest on the first anniversary of the grant date and the remaining 75% of the shares will vest over the remaining 12 quarters, subject to 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 spaceflight for private individuals and researchers with its advanced air and space vehicles. Scale and profitability are driven by next generation vehicles capable of bringing humans to space at an unprecedented frequency with an industry-leading cost structure. You can find more information at https://www.virgingalactic.com.

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.

FAQ

How many shares of Virgin Galactic (SPCE) stock were granted in the inducement awards?

Virgin Galactic granted inducement restricted stock unit awards covering an aggregate of 42,018 shares of common stock to three new non-executive employees.

What is the vesting schedule for Virgin Galactic's (SPCE) inducement stock awards?

The restricted stock unit awards vest over a four-year period: 25% of the shares vest on the first anniversary of the grant date, and the remaining 75% vest over the subsequent 12 quarters, subject to continued employment.

When will the Virgin Galactic (SPCE) inducement stock awards become effective?

The inducement restricted stock unit awards will become effective on September 15, 2024.

Under which plan were Virgin Galactic's (SPCE) inducement awards granted?

The awards were granted under Virgin Galactic's 2023 Employment Inducement Incentive Award Plan.

Virgin Galactic Holdings, Inc.

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