Virgin Galactic (SPCE) CFO nets shares as RSUs vest and 743 withheld for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Virgin Galactic Holdings Chief Financial Officer Douglas T. Ahrens reported routine equity compensation activity involving restricted stock units. On June 29, 2026, 1,377 RSUs granted on March 16, 2023 converted into the same number of shares of common stock on a one-for-one basis. To cover tax withholding on this quarterly vesting, the company withheld 743 shares at a value of $2.95 per share, a non‑market, tax-related disposition rather than an open-market sale. Following these transactions, Ahrens directly holds 88,647 shares of common stock and 4,130 unvested RSUs from this grant, which continue to vest in scheduled quarterly installments, subject to his continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,377 shares exercised/converted
Mixed
3 txns
Insider
Ahrens Douglas T
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,377 | $0.00 | -- |
| Exercise | Common Stock | 1,377 | $0.00 | -- |
| Tax Withholding | Common Stock | 743 | $2.95 | $2K |
Holdings After Transaction:
Restricted Stock Units — 4,130 shares (Direct, null);
Common Stock — 88,647 shares (Direct, null)
Footnotes (1)
- Represents the number of shares of common stock withheld by the Issuer to cover the Reporting Person's tax withholding obligation upon the quarterly vesting of restricted stock units ("RSUs") granted on March 16, 2023. RSUs convert into common stock on a one-for-one basis. Represents an award of RSUs granted on March 16, 2023, which vested with respect to 25% of the RSUs on March 16, 2024, and the remaining 75% of the RSUs will vest in 12 quarterly installments thereafter, beginning June 16, 2024, 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, cash, upon vesting. Represents only the unvested portion of the RSUs granted on March 16, 2023, and does not include RSUs with different vesting terms.
Key Figures
Shares withheld for taxes: 743 shares at $2.95
RSUs converted to common stock: 1,377 RSUs/shares
Common shares held after transactions: 88,647 shares
+3 more
6 metrics
Shares withheld for taxes
743 shares at $2.95
Common stock withheld to cover tax obligation on June 29, 2026
RSUs converted to common stock
1,377 RSUs/shares
RSUs from March 16, 2023 grant converting one-for-one on June 29, 2026
Common shares held after transactions
88,647 shares
Direct holdings of Douglas Ahrens following June 29, 2026 events
Unvested RSUs remaining from grant
4,130 RSUs
Unvested portion of March 16, 2023 RSU award after June 29, 2026 vesting
Tax withholding transaction shares
743 shares
Disposition coded F for payment of tax liability
RSU grant vesting structure
25% + 75% over 12 quarters
25% vested March 16, 2024; 75% in 12 quarterly installments from June 16, 2024
Key Terms
Restricted Stock Units, tax withholding obligation, derivative security, vesting, +1 more
5 terms
Restricted Stock Units financial
"Represents an award of RSUs granted on March 16, 2023, 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.
tax withholding obligation financial
"withheld by the Issuer to cover the Reporting Person's tax withholding obligation upon the quarterly vesting..."
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
vesting financial
"which vested with respect to 25% of the RSUs on March 16, 2024, and the remaining 75%... will vest in 12 quarterly installments"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
What did Virgin Galactic (SPCE) CFO Douglas Ahrens report in this Form 4?
Douglas Ahrens reported routine equity compensation activity. 1,377 restricted stock units vested and converted into common shares, while 743 shares were withheld by Virgin Galactic to cover tax obligations associated with the vesting event.
What restricted stock unit grant is involved for the Virgin Galactic (SPCE) CFO?
The transactions relate to RSUs granted on March 16, 2023. Twenty-five percent vested on March 16, 2024, and the remaining 75% vest in 12 quarterly installments starting June 16, 2024, assuming the CFO continues to serve through each vesting date.
How many unvested Virgin Galactic (SPCE) RSUs from this grant remain for the CFO?
Following this vesting, 4,130 unvested restricted stock units remain from the March 16, 2023 grant. These RSUs are scheduled to continue vesting in quarterly installments, subject to Douglas Ahrens’ continued service with Virgin Galactic.