Virgin Galactic officer exercises RSUs, withholds shares
Virgin Galactic Holdings, Inc executive Aparna Chitale, CPO & EVP Astronaut Operations, reported that on June 29, 2026, 525 Restricted Stock Units from a March 16, 2023 grant converted into 525 shares of common stock.
Rhea-AI Filing Summary
Virgin Galactic Holdings, Inc executive Aparna Chitale, CPO & EVP Astronaut Operations, reported that on June 29, 2026, 525 Restricted Stock Units from a March 16, 2023 grant converted into 525 shares of common stock. In connection with this quarterly vesting, 284 shares were withheld at $2.95 per share to cover tax obligations. After these transactions, she directly holds 36,822 shares of Virgin Galactic common stock, and the RSUs convert into stock on a one-for-one basis.
Positive
- None.
Negative
- None.
Insider Trade Summary
525 shares exercised/converted
Exercise
3 txns
Insider
Chitale Aparna
Role
CPO & EVP Astronaut Operations
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 525 | $0.00 | $0.00 |
| Exercise | Common Stock | 525 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 284 | $2.95 | $837.80 |
Holdings After Transaction:
Restricted Stock Units — 1,573 contracts (Direct);
Common Stock — 36,822 shares (Direct)
Footnotes (4)
- 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 ("RSUs") granted on March 16, 2023.
- F2. RSUs convert into common stock on a one-for-one basis.
- F3. 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.
- F4. Represents only the unvested portion of the RSUs granted on March 16, 2023, and does not include RSUs with different vesting terms.
Key Figures
RSUs converted: 525 shares
Tax withholding shares: 284 shares
Tax withholding price: $2.95 per share
+5 more
8 metrics
RSUs converted
525 shares
Restricted Stock Units converted into common stock on June 29, 2026
Tax withholding shares
284 shares
Shares withheld to cover tax obligations related to RSU vesting
Tax withholding price
$2.95 per share
Per-share price for the tax-withholding disposition of common stock
Post-transaction holdings
36,822 shares
Direct common stock holdings after the reported transactions
RSU grant date
March 16, 2023
Grant date of the Restricted Stock Units referenced in the filing
Initial vesting portion
25%
Portion of the RSUs that vested on March 16, 2024
Remaining vesting portion
75%
Portion vesting in 12 quarterly installments beginning June 16, 2024
Quarterly installments
12
Number of quarterly installments for the remaining RSUs
Key Terms
Restricted Stock Units, tax withholding obligation, vesting, one-for-one basis
4 terms
Restricted Stock Units financial
"525 Restricted Stock Units from a March 16, 2023 grant converted into shares"
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
"shares of common stock withheld to cover the Reporting Person's tax withholding obligation"
vesting financial
"the remaining 75% of the RSUs 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.
one-for-one basis financial
"RSUs convert into common stock on a one-for-one basis"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Aparna Chitale report for Virgin Galactic (SPCE)?
Aparna Chitale reported that 525 Restricted Stock Units from a March 16, 2023 grant converted into 525 shares of Virgin Galactic common stock on June 29, 2026. In connection with this vesting, 284 shares were withheld to satisfy tax obligations.
What are the vesting terms of the March 16, 2023 RSU grant at Virgin Galactic (SPCE)?
The RSU award granted on March 16, 2023 vested 25% on March 16, 2024, with the remaining 75% vesting in 12 quarterly installments beginning June 16, 2024, subject to continued service. The RSUs may be settled in common stock or cash.
How do the RSUs in Virgin Galactic (SPCE)'s filing convert into common stock?
The filing states that the Restricted Stock Units convert into Virgin Galactic common stock on a one-for-one basis. Upon each vesting event, one RSU corresponds to one share of common stock, subject to the company’s ability to settle the award in cash instead.
Were Aparna Chitale’s SPCE transactions reported under a Rule 10b5-1 trading plan?
The document-level Rule 10b5-1 checkbox is not marked, and there is no footnote stating that these transactions were executed pursuant to a pre-arranged Rule 10b5-1 trading plan, based on the information provided.
AI-generated analysis. How Rhea-AI works. Not financial advice.
