Sec Form 4 Filing - Virgin Investments Ltd @ Virgin Galactic Holdings, Inc - 2023-11-01

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Virgin Investments Ltd
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
_____ Officer (give title below) X __ Other (specify below)
Former 10% Owner
(Last) (First) (Middle)
CRAIGMUIR CHAMBERS, ROAD TOWN
3. Date of Earliest Transaction (MM/DD/YY)
11/01/2023
(Street)
TORTOLA, D8VG 1110
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 30,745,494 ( 1 ) I See footnote ( 2 ) ( 3 )
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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Virgin Investments Ltd
CRAIGMUIR CHAMBERS, ROAD TOWN
TORTOLA, D8VG 1110
Former 10% Owner
Virgin Group Investments LLC
CRAIGMUIR CHAMBERS, ROAD TOWN
TORTOLA, D8VG 1110
Former 10% Owner
Corvina Holdings LTD
CRAIGMUIR CHAMBERS, ROAD TOWN
TORTOLA, D8VG 1110
Former 10% Owner
Virgin Group Holdings LTD
CRAIGMUIR CHAMBERS, ROAD TOWN
TORTOLA, D8VG 1110
Former 10% Owner
Branson Sir Richard
BRANSON VILLA, NECKER BEACH ESTATE
NECKER ISLAND, D8VG 1150
Former 10% Owner
Signatures
Virgin Investments Limited By: /s/ James Cahillane, Attorney-in-fact 11/03/2023
Signature of Reporting Person Date
Virgin Group Investments LLC By: /s/ James Cahillane, Attorney-in-fact 11/03/2023
Signature of Reporting Person Date
Sir Richard Branson By: /s/ James Cahillane, Attorney-in-fact 11/03/2023
Signature of Reporting Person Date
Corvina Holdings Limited By: /s/ James Cahillane, Attorney-in-fact 11/03/2023
Signature of Reporting Person Date
Virgin Group Holdings Limited By: /s/ James Cahillane, Attorney-in-fact 11/03/2023
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On November 1, 2023, Sir Richard Branson transferred all of the ordinary shares of Virgin Group Holdings Limited ("VGHL") to BFT (PTC) Limited ("PTC"), in its capacity as trustee of trusts for the benefit of members of his family and related philanthropic causes. The aggregate beneficial ownership of the securities of the Issuer held by Virgin Investments Limited ("VIL") is unchanged as a result of this transaction. This Form 4 is being filed to report that the Reporting Persons are no longer beneficial owners of 10% or more of the common stock of the Issuer.
( 2 )VIL is the record holder of the common stock reported herein, whose sole shareholder is Corvina Holdings Limited ("Corvina"), whose sole shareholder is VGHL. PTC, in its capacity as trustee of trusts for the benefit of members of Sir Richard Branson's family and related philanthropic causes, is the sole holder of voting shares of VGHL. Under the terms of the trusts, BFT CLG (PTC) Limited has certain consent rights with respect to the exercise by PTC of its control over VGHL. Sir Richard Branson indirectly has the ability to control the appointment and removal of the management of VGHL and, as such, he may be deemed to indirectly control the decisions of VGHL, regarding the voting and disposition of securities owned by VGHL. As a result, each of the foregoing entities and Mr. Branson may be deemed to share beneficial ownership of the securities held by VIL.
( 3 )In connection with an internal restructuring, Virgin Group Investments LLC ("VGIL") was removed from the corporate group structure. Corvina became the sole shareholder of VIL, and accordingly, VGIL ceased to share beneficial ownership of the securities held by VIL.

Remarks:
Exhibit List - Exhibit 24 - Power of Attorney

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