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Virgin Galactic (NYSE: SPCE) exec reports RSU vesting, tax withholding

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Virgin Galactic Holdings, Inc executive Aparna Chitale reported quarterly vesting of 524 restricted stock units on October 7, 2025, converting one-for-one into common stock. To cover tax obligations, the issuer withheld 436 shares at $4.08 per share. Following these transactions, Chitale holds 8,838 shares of Virgin Galactic common stock directly.

Positive

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Negative

  • None.

Insights

Routine RSU vesting with withholding; tax-cover shares reduced net share count.

The transactions reflect scheduled equity compensation mechanics: 524 RSUs vested and converted into common stock at a $0 conversion price while the company withheld 436 shares in total (283 and 153) to satisfy tax obligations at $4.08 per share. This is a standard practice that preserves net cash for the reporting person and records the tax settlement on the issuer's books.

Key dependencies and risks are limited and administrative: future dilution depends on remaining unvested awards (3,147 RSUs) and whether the issuer elects cash settlement. Investors should note the continuing quarterly vesting schedule through the remaining 12 installments starting 06/16/2024, which will modestly increase share count as vesting occurs.

Reported changes are small in absolute shares but important for insider ownership tracking.

The post-transaction beneficial ownership lines show 9,274, 8,991, and 8,838 shares across reporting lines, reflecting the timing and mechanics of conversion and withholding. The derivative table records 524 underlying shares converted and 3,147 remaining unvested RSUs from the 2023 grant.

Material impact on overall capital structure is minimal given these absolute amounts, but ongoing quarterly vesting will cause predictable, small increases in share float until the RSUs fully vest. Monitor the issuer's settlement choice (shares vs cash) for any near-term cash flow implications.

Insider Chitale Aparna
Role CPO & EVP, Customer Operations
Type Security Shares Price Value
Exercise Restricted Stock Units 524 $0.00 $0.00
Exercise Common Stock 524 $0.00 $0.00
Exercise Price or Tax Liability Common Stock 283 $4.08 $1K
Exercise Price or Tax Liability Common Stock 153 $4.08 $624.24
Holdings After Transaction: Restricted Stock Units — 3,147 shares (Direct); Common Stock — 8,838 shares (Direct)
Footnotes (5)
  1. F1. 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 granted on March 16, 2023.
  2. F2. 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 granted on March 16, 2022.
  3. F3. Restricted stock units convert into common stock on a one-for-one basis.
  4. F4. Represents an award of restricted stock units (the "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.
  5. F5. Represents only the unvested portion of the RSUs granted on March 16, 2023, and does not include restricted stock units with different vesting terms.
RSUs Converted 524 shares Restricted stock units converting into common stock on October 7, 2025
Tax Withholding Shares 436 shares Common stock withheld to cover tax obligations upon RSU vesting
Tax Withholding Price $4.08 per share Price applied to F-code tax-withholding transactions in common stock
Post-transaction Holdings 8,838 shares Direct common stock owned by Aparna Chitale after reported transactions
Restricted Stock Units financial
"Represents an award of restricted stock units (the "RSUs") granted on March 16, 2023"
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"
quarterly vesting financial
"the remaining 75% of the RSUs will vest in 12 quarterly installments thereafter"
one-for-one basis financial
"Restricted stock units convert into common stock on a one-for-one basis."

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What RSU vesting did SPCE executive Aparna Chitale report?
Aparna Chitale524 restricted stock units on October 7, 2025, which converted into an equal number of Virgin Galactic common shares. These RSUs are part of compensation awards granted in 2022 and 2023.

How many Virgin Galactic (SPCE) shares were withheld for taxes?
The issuer withheld a total of 436 common shares at $4.08 per share to satisfy Chitale’s tax withholding obligations tied to the quarterly vesting of RSUs granted on March 16, 2022 and March 16, 2023.

What is Aparna Chitale’s post-transaction shareholding in SPCE?
After the October 7, 2025 RSU vesting and related tax withholding, Aparna Chitale directly owns 8,838 shares of Virgin Galactic common stock. This figure reflects her reported holdings following the transactions in this Form 4.

What was the conversion rate of RSUs to Virgin Galactic common stock?
The filing states that restricted stock units convert into common stock on a one-for-one basis. Thus, each vested RSU held by Aparna Chitale resulted in the issuance of one share of Virgin Galactic common stock, before tax-withholding adjustments.

What is the vesting schedule for Chitale’s March 16, 2023 RSUs at SPCE?
The March 16, 2023 RSU grant vested 25% on March 16, 2024. The remaining 75% will vest in 12 quarterly installments beginning June 16, 2024, subject to Chitale’s continued service; RSUs may be settled in shares or cash upon vesting.
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*
Chitale Aparna
(Last) (First) (Middle)
1700 FLIGHT WAY
(Street)
TUSTIN CA 92782
(City) (State) (Zip)
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)
CPO & EVP, Customer Operations
3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
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)
Code V Amount (A) or (D) Price
Common Stock 10/07/2025 M 524 A $0 9,274 D
Common Stock 10/07/2025 F 283(1) D $4.08 8,991 D
Common Stock 10/07/2025 F 153(2) D $4.08 8,838 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (3) 10/07/2025 M 524 (4) (4) Common Stock 524 $0 3,147(5) D
Explanation of Responses:
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 granted on March 16, 2023.
2. 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 granted on March 16, 2022.
3. Restricted stock units convert into common stock on a one-for-one basis.
4. Represents an award of restricted stock units (the "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.
5. Represents only the unvested portion of the RSUs granted on March 16, 2023, and does not include restricted stock units with different vesting terms.
Remarks:
/s/ Sarah Kim, Attorney-in-Fact for Aparna Chitale 10/08/2025
** 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.

Source: View Original Filing on SEC EDGAR