Virgin Galactic Reports Inducement Award Under NYSE Listing Rule 303A.08
Virgin Galactic Reports Inducement Award Under NYSE Listing Rule 303A.08
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restricted stock unitsfinancial
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.
rsusfinancial
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
Performance-vesting restricted stock units are a form of employee pay where future company shares are granted only if the business meets specific targets, such as revenue, profit, or stock-price goals. Think of them as a bonus you earn only when certain milestones are hit; for investors they matter because they can increase the number of shares outstanding if goals are met and they reveal how management is being motivated to hit particular financial or operational objectives.
psusfinancial
PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.
common stockfinancial
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
ORANGE COUNTY, Calif.--(BUSINESS WIRE)--
Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic”) announced that the Compensation Committee of Virgin Galactic’s Board of Directors approved the grants of time-based inducement restricted stock units (“RSUs”) covering an aggregate of 484,793 shares of Virgin Galactic common stock and performance-vesting restricted stock units (“PSUs”) awards (collectively, the “Awards”) covering an aggregate of 384,793 shares of Virgin Galactic common stock to a new non-executive employee, effective April 15, 2026.
The awards were granted under Virgin Galactic’s Second Amended and Restated 2023 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Virgin Galactic. The vesting schedules for the Awards are as follows: (1) RSUs covering an aggregate of 284,793 shares of Virgin Galactic common stock will vest over a three-year period: 33.3% of the underlying shares will vest on the first and second anniversary of the grant date and the remaining 33.4% of the shares will vest on the third anniversary of the grant date, subject to continued service; (2) RSUs covering an aggregate of 200,000 shares of Virgin Galactic common stock will vest in full on the one-year anniversary of April 15, 2026, subject to continued service; (3) PSUs covering an aggregate of 284,793 shares of Virgin Galactic common stock shall vest, if at all, based on the achievement of performance goals over a performance period ending on December 31, 2028, subject to continued service; and (4) PSUs covering an aggregate of 100,000 shares of Virgin Galactic common stock shall vest, if at all, on the second-year anniversary of April 15, 2026, based on the achievement of specified performance goals, subject to continued service. The Awards were granted as an inducement material to the new employee entering into employment with Virgin Galactic, in accordance with NYSE Listing Rule 303A.08.
About Virgin Galactic
Virgin Galactic is an aerospace and space travel company, pioneering human-first spaceflight for private individuals, researchers, and governments with its advanced SpaceShips and launch vehicle. Scale and profitability are driven by next-generation vehicles capable of taking humans to space at an unprecedented frequency with an industry-leading cost structure. You can find more information at https://www.virgingalactic.com.
