Virgin Galactic (NYSE: SPCE) awards director 25,306 RSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Mabus Raymond E reported acquisition or exercise transactions in this Form 4 filing.
Virgin Galactic Holdings, Inc. director Raymond E. Mabus reported a compensation-related equity grant. He received an award of 25,306 restricted stock units (RSUs) of common stock at no cash cost, bringing his direct holdings to 84,371 shares after the transaction.
The RSUs vest in full on the one-year anniversary of the grant date, or on the date of the next annual meeting of stockholders if that meeting occurs earlier and he does not stand for re-election. Upon vesting, the RSUs will be settled in shares of Virgin Galactic common stock, making this a stock-based compensation grant rather than an open-market purchase.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Mabus Raymond E
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 25,306 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 84,371 shares (Direct, null)
Footnotes (1)
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Key Figures
RSUs granted: 25,306 RSUs
Grant price: $0.00 per share
Shares held after grant: 84,371 shares
3 metrics
RSUs granted
25,306 RSUs
Equity award to director Raymond E. Mabus
Grant price
$0.00 per share
Restricted stock unit award with no cash cost
Shares held after grant
84,371 shares
Direct holdings following reported Form 4 transaction
Key Terms
restricted stock units (RSUs), annual meeting of stockholders, vests in full, settled in shares
4 terms
restricted stock units (RSUs) financial
"Represents an award of restricted stock units (RSUs), which vests in full"
Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.
annual meeting of stockholders financial
"following the date of the Issuer's next annual meeting of stockholders"
vests in full financial
"which vests in full on the one-year anniversary of the grant date"
FAQ
What did Virgin Galactic (SPCE) director Raymond E. Mabus report in this Form 4?
Raymond E. Mabus reported receiving 25,306 restricted stock units as equity compensation. These RSUs were granted at no cash cost and increase his direct holdings to 84,371 shares of Virgin Galactic common stock, according to the Form 4 filing details.
Is the Virgin Galactic (SPCE) Form 4 for Raymond E. Mabus a stock purchase or compensation grant?
The Form 4 reflects a compensation grant, not an open-market stock purchase. Raymond E. Mabus received 25,306 restricted stock units at a price of $0.00 per share, classified as a grant or award acquisition under the Form 4 transaction code A.
When do Raymond E. Mabus’s Virgin Galactic (SPCE) RSUs vest?
The 25,306 RSUs vest in full on the one-year anniversary of the grant date. If the next annual meeting of stockholders occurs earlier and he does not stand for re-election, they instead vest on that meeting date, according to the Form 4 footnote.
How will the Virgin Galactic (SPCE) RSUs granted to Raymond E. Mabus be settled?
The restricted stock units granted to Raymond E. Mabus will be settled in shares of Virgin Galactic common stock upon vesting. The Form 4 footnote specifies that the RSUs convert into common shares rather than cash, reinforcing their nature as stock-based compensation.