Vertical Aerospace Ltd. appointed Clyde Woltman as a director effective October 5, 2026. Mudrick Capital Management L.P. proposed his appointment under director appointment rights in the company’s amended and restated memorandum and articles of association.
Carsten Stendevad and James Keith Brown gave notice of their intention to resign on October 1, 2026, and agreed with the Board that their resignations would take effect October 5, 2026. Woltman served as Chief Executive Officer of Leonardo Helicopters US from 2022 to 2026; the company’s announcement says he led a $1 billion business spanning sales, engineering, certification, production, customer support and research and development.
Vertical Aerospace Ltd. Chief Executive Officer Stuart Simpson was granted 161,274 nil-cost options on September 30, 2026. His reported direct holding after the grant was 3,592,040 options. The options vest beginning September 30, 2026, with additional shares vesting quarterly thereafter, subject to continued service through each vesting date, and expire September 29, 2036.
Vertical Aerospace Ltd. (EVTL) received a New York Stock Exchange notice on September 9, 2026, stating that its ordinary shares’ average closing price was below $1.00 per share over 30 consecutive trading days. The company told the NYSE it intends to cure the deficiency.
Vertical can regain compliance during the six-month cure period following receipt if, on the last trading day of any calendar month, its shares close at least $1.00 and average at least $1.00 over the 30 trading-day period ending that day. Its ordinary shares will continue trading during the cure period, subject to other continued listing requirements. The company said the notice has no immediate effect on the listing and is not anticipated to affect ongoing operations.
Vertical Aerospace Ltd. (EVTL) reported that its Board of Directors approved an increase in board size from eight to nine members and appointed Fabrice Brégier as a director and Chair of the Board, effective September 21, 2026.
Brégier was proposed under Mudrick Capital Management L.P.’s director appointment rights in Vertical’s amended and restated memorandum and articles of association. He brings over three decades of senior leadership experience, including serving as CEO of Airbus Commercial Aircraft, COO of Airbus Group, President & CEO of Eurocopter, CEO of Matra BAe Dynamics and MBDA, and President of Palantir Technologies France. He currently serves as a non-executive director of Safran SA and ENGIE SA, and Chair of SCOR SE.
The company states that this leadership change comes as it focuses on certification and commercialisation of its all-electric Valo eVTOL aircraft and development of hybrid-electric, autonomous and defence applications. Interim Chair Ben Story will remain on the board as a non-executive director after Brégier assumes the Chair role.
Vertical Aerospace Ltd. (EVTL) entered into a Marketing Services Agreement under which its wholly owned subsidiary, Vertical Aerospace Group Limited, engaged Outside The Box Capital Inc. to provide marketing and distribution services communicating information about the company, including via social media and online media distribution, for a cash fee.
The agreement runs from September 16, 2026 to March 15, 2027. The disclosure is also incorporated by reference into multiple existing Registration Statements on Form F-3, making this agreement part of the company’s registered disclosure record.
Vertical Aerospace Ltd. (EVTL) reported the results of its September 11, 2026 Annual General Meeting, where holders of 91,888,684 ordinary shares and 27,000 Series A convertible preferred shares were present or represented, accounting for approximately 56.71% of the voting power as of the August 18, 2026 record date.
Shareholders ratified the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the year ending December 31, 2026. They approved an increase of 2,767,806 shares available under the 2021 Incentive Award Plan (excluding the CEO and non-employee directors) and approved reducing the exercise prices of certain existing options from $3.50 or $5.82 per share to $1.30 per share. Shareholders also approved, by special resolution, a Sixth Amended and Restated Memorandum and Articles of Association, which, among other matters, grants specific director nomination, removal, and consent rights to Mudrick Capital Management, L.P., the largest shareholder. A further proposal to adopt a Seventh Amended and Restated Memorandum and Articles of Association to remove certain references to Stephen Fitzpatrick received sufficient overall votes but failed because not all shares held directly or indirectly by Stephen Fitzpatrick were voted in favor, so the Sixth A&R M&A remains in effect.
Vertical Aerospace Ltd. (EVTL) reported that Chief Executive Officer Stuart Simpson received a grant of 13,934 Nil Cost Options over common stock. The options have a conversion price of $0.00 per share, expire on January 21, 2036, and increase his directly held option position to 3,430,766 options. According to the vesting terms, options begin vesting on September 30, 2026 with additional shares vesting quarterly thereafter, subject to continued service.
Vertical Aerospace Ltd. (EVTL) reported that Chief Executive Officer Stuart Simpson received a grant of 44,013 Nil Cost Options on August 19, 2026. These options relate to an equal number of shares of common stock, have a zero exercise price, and expire on January 21, 2036.
Following this award, Simpson holds 3,416,832 derivative securities directly. According to the vesting terms, the options begin vesting on September 30, 2026, with additional portions vesting quarterly thereafter under an applicable vesting schedule, subject to his continued service through each vesting date.
Vertical Aerospace Ltd. is convening its AGM on September 11, 2026, for shareholders of record as of August 18, 2026, to vote on several governance and incentive proposals. Each ordinary share carries one vote, and Series A preferred shares vote on an as-converted basis.
Shareholders will vote on ratifying PricewaterhouseCoopers LLP as auditor for the year ending December 31, 2026; increasing the employee share limit under the 2021 Incentive Award Plan by 2,767,806 shares (excluding the CEO and non-employee directors); and repricing 5,043,000 existing options from $3.50/$5.82 to $1.30 per share.
They will also consider amendments to adopt a Sixth and then a conditional Seventh Amended and Restated Memorandum and Articles of Association, which embed and then clean up governance arrangements. These amendments formalize enhanced director nomination and consent rights for Mudrick Capital, tied to its ownership thresholds, and remove legacy rights held by founder Stephen Fitzpatrick once he holds below 3% of outstanding ordinary shares. The Mudrick-related amendments are linked to an accelerated issuance of the remaining $35,000,000 of Convertible Senior Secured Notes and are presented as supporting the company’s capital-intensive plan targeting aircraft certification in 2029.
Mudrick Capital Management and affiliated funds report beneficial ownership of 214,698,010 ordinary shares of Vertical Aerospace Ltd., representing 64.2% of the class on a partially diluted basis. This position includes existing shares, ordinary shares issuable upon conversion of Convertible Senior Secured Notes, and shares issuable from Existing, Tranche A and Tranche B Warrants held across multiple Mudrick funds.
The filing notes that Vertical Aerospace and Mudrick Capital Management, L.P. entered into an Amended and Restated Convertible Note Purchase Agreement under which the company issued an additional $35,000,000 aggregate nominal principal amount of Convertible Senior Secured Notes to Mudrick-managed vehicles. The related indenture was supplemented to change the conversion price of all such notes from $3.50 to $1.30 per ordinary share.
A separate Shareholder Agreement grants Mudrick Capital Management specified nomination, removal and consent rights, including expansion of the board from eight to nine directors and a formula-based right to nominate directors proportional to its beneficial ownership, subject to at least one Specified or Appointed Director remaining on the board.