Virgin Galactic Reports Inducement Awards Under NYSE Listing Rule 303A.08

Rhea-AI Summary

Virgin Galactic grants inducement restricted stock unit awards to new employees

Positive

• Virgin Galactic grants time-based inducement restricted stock unit awards to two new non-executive employees
• The awards cover an aggregate of 15,185 shares of Virgin Galactic common stock
• The restricted stock unit awards will vest over a four-year period

Negative

• None.

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 unit awards covering an aggregate of 15,185 shares of Virgin Galactic common stock to two new non-executive employees, each effective September 15, 2023.

The awards were granted under Virgin Galactic’s 2023 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Virgin Galactic. The restricted stock unit awards will vest over a four-year period: 25% of the underlying shares will vest on the first anniversary of the grant date and the remaining 75% of the shares will vest over the remaining 12 quarters, subject to continued service. The awards were granted as an inducement material to the new employees 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 spaceflight for private individuals and researchers with its advanced air and space vehicles. It has developed a spaceflight system designed to connect the world to the love, wonder and awe created by space travel and to offer customers a transformative experience. You can find more information at https://www.virgingalactic.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230918475619/en/

For media inquiries:

Aleanna Crane – Vice President, Communications

virgingalacticpress@virgingalactic.com

For Investor Inquiries:

Eric Cerny - Vice President, Investor Relations

vg-ir@virgingalactic.com

949.774.7637

Source: Virgin Galactic Holdings, Inc.