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Virgin Galactic Reports Inducement Awards Under NYSE Listing Rule 303A.08
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Virgin Galactic grants inducement restricted stock unit awards to new employees
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Virgin Galactic grants time-based inducement restricted stock unit awards to two new non-executive employees
The awards cover an aggregate of 15,185 shares of Virgin Galactic common stock
The restricted stock unit awards will vest over a four-year period
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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 15,185 shares of Virgin Galactic common stock to two new non-executive employees, each effective September 15, 2023.
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. It has developed a spaceflight system designed to connect the world to the love, wonder and awe created by space travel and to offer customers a transformative experience. You can find more information at https://www.virgingalactic.com.
virgin galactic is the world’s first commercial spaceline. we are developing vehicles to fly private astronauts, research experiments, and satellites to space—democratizing access to space for the benefit of life on earth. the virgin galactic astronaut experience will include out-of-seat weightlessness and stunning views of earth from space onboard spaceshiptwo, our reusable spaceplane designed for us by aerospace pioneer scaled composites. spaceshiptwo has been designed to carry two pilots and as many as six astronauts (or more than 1,000 pounds of experiments) to space and back on commercial flights from new mexico’s spaceport america, the world’s first purpose-built commercial spaceport. we are also developing launcherone, a dedicated launch vehicle for small satellites. launcherone is designed to carry smaller satellites (typically 200-300 kilograms)) into earth orbit for historically low prices. together with our wholly-owned manufacturing arm, the spaceship company, virgin galact