Virgin Galactic (NYSE: SPCE) EVP nets shares after RSU vesting and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Virgin Galactic Holdings EVP, CLO & Corporate Secretary Sarah E. Kim reported the vesting and settlement of restricted stock units tied to company common stock. On April 7, 2026, RSUs previously granted on March 20, 2025 converted into 55,594 shares of common stock on a one-for-one basis.
To cover her tax withholding obligation on this vesting event, the company withheld 28,781 shares at a price of $3.07 per share, a non‑market transaction recorded under code F. Following these transactions, she directly holds 33,821 shares of Virgin Galactic common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
55,594 shares exercised/converted
Mixed
3 txns
Insider
Kim Sarah E
Role
EVP, CLO & Corporate Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 55,594 | $0.00 | -- |
| Exercise | Common Stock | 55,594 | $0.00 | -- |
| Tax Withholding | Common Stock | 28,781 | $3.07 | $88K |
Holdings After Transaction:
Restricted Stock Units — 111,188 shares (Direct);
Common Stock — 62,602 shares (Direct)
Footnotes (1)
- Represents the numbers of shares of common stock withheld by the Issuer to cover the Reporting Person's tax withholding obligation upon the annual vesting of restricted stock units ("RSUs") granted on March 20, 2025. RSUs convert into common stock on a one-for-one basis. Represents an award of RSUs granted on March 20, 2025, which vested with respect to 1/3 of the RSUs on March 20, 2026; and thereafter 1/3 of the RSUs will vest on the second anniversary of the Grant Date; and the remaining 1/3 of the RSUs will vest on the third anniversary of the Grant Date, in each case subject to the Reporting Person's continued service through the applicable vesting date. The RSUs may be settled in shares of the Issuer's common stock or, in the Issuer's discretion, in cash. Represents only the unvested portion of the RSUs granted on March 20, 2025, and does not include RSUs with different vesting terms.
Key Figures
RSUs converted: 55,594 shares
Tax withholding shares: 28,781 shares
Withholding price: $3.07 per share
+1 more
4 metrics
RSUs converted
55,594 shares
RSUs converting one-for-one into common stock on April 7, 2026
Tax withholding shares
28,781 shares
Shares withheld to cover tax obligations on RSU vesting
Withholding price
$3.07 per share
Value used for tax-withholding disposition (code F)
Shares held after transaction
33,821 shares
Direct common stock ownership following RSU conversion and withholding
Key Terms
Restricted Stock Units, RSUs, tax withholding obligation, vest
4 terms
Restricted Stock Units financial
"Represents an award of RSUs granted on March 20, 2025, which vested..."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
RSUs financial
"The RSUs may be settled in shares of the Issuer's common stock or..."
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
tax withholding obligation financial
"withheld by the Issuer to cover the Reporting Person's tax withholding obligation..."
vest financial
"vested with respect to 1/3 of the RSUs on March 20, 2026; and thereafter 1/3..."
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
What insider transaction did Virgin Galactic's EVP report for SPCE?
Virgin Galactic’s EVP, CLO & Corporate Secretary Sarah E. Kim reported RSU vesting that converted into 55,594 common shares. The company then withheld 28,781 of those shares at $3.07 each to satisfy tax obligations, leaving her with 33,821 shares held directly after the transactions.
How many Virgin Galactic RSUs vested for Sarah E. Kim in this Form 4?
The filing shows 55,594 restricted stock units converted into an equal number of Virgin Galactic common shares. These RSUs were part of an award granted on March 20, 2025, with one-third vesting on March 20, 2026, subject to her continued service with the company.
How do the Virgin Galactic RSUs for SPCE vest over time in this award?
The RSU award granted on March 20, 2025 vests in three equal tranches. One-third vested on March 20, 2026, while the remaining two-thirds vest on the second and third anniversaries of the grant date, subject to Sarah E. Kim’s continued service with Virgin Galactic.