What does the Form 4 say about unvested Virgin Galactic (SPCE) performance share units?

The filing notes 7,342 shares underlying performance share units granted March 16, 2023 did not meet vesting requirements. These units, adjusted for a 1-for-20 reverse stock split, are excluded from Douglas Ahrens’ reported beneficial ownership in this Form 4.

Virgin Galactic (SPCE) CFO exercises 35,560 RSUs, settles in cash with issuer

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Virgin Galactic Holdings, Inc. Chief Financial Officer Douglas T. Ahrens reported compensation-related stock transactions. On March 16, 2026, he exercised 35,560 restricted stock units into an equal number of common shares at $0.00 per share, then those shares were disposed of to the issuer at $2.48 per share as a cash settlement of previously vested units. After these transactions, he directly held 17,275 shares of common stock. The filing also notes that 7,342 performance share units previously reported as beneficially owned did not vest and are excluded.

Insider Trade Summary

35,560 shares exercised/converted

Mixed 3 txns

Insider Ahrens Douglas T

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	35,560	$0.00	--
Exercise	Common Stock	35,560	$0.00	--
Disposition	Common Stock	35,560	$2.48	$88K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 52,835 shares (Direct)

Footnotes (1)

Excludes 7,342 shares underlying performance share units granted on March 16, 2023 (adjusted to reflect the 1-for-20 reverse stock split effected by the Issuer on June 14, 2024) formerly reported as beneficially owned by the Reporting Person which were subject to vesting requirements which were not met. Reflects the cash settlement of previously vested restricted stock units. Restricted stock units convert into common stock on a one-for-one basis. Represents an award of restricted stock units, which fully vested with respect to the remaining 50% of the restricted stock units and were settled in cash based on the value of a share of common stock on March 16, 2026. The restricted stock units may be settled in shares of the Issuer's common stock or, in the Issuer's discretion, cash, upon vesting.

Form 4 Insider Transactions: What Each Field Means →

03/18/2026 - 04:39 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ahrens Douglas T

(Last)

(First)

(Middle)

1700 FLIGHT WAY

(Street)

TUSTIN

CALIFORNIA

92782

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Virgin Galactic Holdings, Inc [ SPCE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/16/2026		M		35,560	A	$0	52,835⁽¹⁾	D
Common Stock	03/16/2026		D		35,560	D	$2.48	17,275⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽³⁾	03/16/2026		M			35,560	⁽⁴⁾	⁽⁴⁾	Common Stock	35,560	$0	0	D

Explanation of Responses:

1. Excludes 7,342 shares underlying performance share units granted on March 16, 2023 (adjusted to reflect the 1-for-20 reverse stock split effected by the Issuer on June 14, 2024) formerly reported as beneficially owned by the Reporting Person which were subject to vesting requirements which were not met.

2. Reflects the cash settlement of previously vested restricted stock units.

3. Restricted stock units convert into common stock on a one-for-one basis.

4. Represents an award of restricted stock units, which fully vested with respect to the remaining 50% of the restricted stock units and were settled in cash based on the value of a share of common stock on March 16, 2026. The restricted stock units may be settled in shares of the Issuer's common stock or, in the Issuer's discretion, cash, upon vesting.

Remarks:

	/s/ Sarah Kim, Attorney-in-Fact for Douglas T. Ahrens	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Virgin Galactic (SPCE) CFO Douglas Ahrens report in this Form 4?

Virgin Galactic CFO Douglas Ahrens reported exercising 35,560 restricted stock units into common shares, then settling those shares in cash with the issuer at $2.48 per share. Following the transactions, he directly held 17,275 shares of Virgin Galactic common stock.

How many Virgin Galactic (SPCE) shares were involved in Douglas Ahrens’ RSU exercise?

Douglas Ahrens exercised 35,560 restricted stock units, which converted one-for-one into 35,560 shares of Virgin Galactic common stock. Those shares were then disposed of to the issuer for cash, reflecting settlement of previously vested restricted stock units.

What is Douglas Ahrens’ Virgin Galactic (SPCE) shareholding after these transactions?

After the reported transactions, Douglas Ahrens directly owned 17,275 shares of Virgin Galactic common stock. The sequence reflects an exercise and cash settlement of restricted stock units, leaving his direct share count at this reported post-transaction level.

At what price were Virgin Galactic (SPCE) shares disposed of in this Form 4?

The 35,560 Virgin Galactic common shares received from restricted stock units were disposed of to the issuer at $2.48 per share. This reflects cash settlement of previously vested units, rather than an open-market sale through a stock exchange or broker.

How do Virgin Galactic (SPCE) restricted stock units convert according to this filing?

The filing states restricted stock units convert into Virgin Galactic common stock on a one-for-one basis. It also explains these units may be settled in shares or, at the issuer’s discretion, in cash upon vesting, as occurred here with cash settlement on March 16, 2026.