Sec Form 4 Filing - Colglazier Michael A @ Virgin Galactic Holdings, Inc - 2024-04-09

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
Colglazier Michael A
2. Issuer Name and Ticker or Trading Symbol
Virgin Galactic Holdings, Inc [ SPCE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
CEO and President
(Last) (First) (Middle)
1700 FLIGHT WAY
3. Date of Earliest Transaction (MM/DD/YY)
04/09/2024
(Street)
TUSTIN, CA92782
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ 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 04/09/2024 M 181,818 A $ 0 ( 1 ) 951,896 D
Common Stock 04/09/2024 F 97,728 ( 2 ) D $ 1.18 854,168 D
Common Stock 04/09/2024 F 15,918 ( 3 ) D $ 1.18 838,250 D
Common Stock 04/09/2024 F 4,375 ( 4 ) D $ 1.18 833,875 D
Common Stock 317,840 I By Family Revocable Trust
Common Stock 33,850 I By Family Trust for Son 1
Common Stock 33,850 I By Family Trust for Son 2
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
Restricted Stock Units ( 1 ) 04/09/2024 M 181,818 ( 5 ) ( 5 ) Common Stock 181,818 $ 0 545,455 ( 6 ) D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Colglazier Michael A
1700 FLIGHT WAY
TUSTIN, CA92782
X CEO and President
Signatures
/s/ Sarah Kim, Attorney-in-Fact for Michael Colglazier 04/11/2024
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Restricted stock units convert into common stock on a one-for-one basis.
( 2 )Represents the number of shares of common stock withheld by the Issuer to cover the Reporting Person's tax withholding obligation upon the vesting of restricted stock units granted on March 16, 2023.
( 3 )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 17, 2022.
( 4 )Represents the number of shares of common stock withheld by the Issuer to cover the Reporting Person's tax withholding obligations upon the quarterly vesting of restricted stock units granted on March 24, 2021.
( 5 )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.
( 6 )Represents only the unvested portion of the RSUs granted on March 16, 2023, and does not include restricted stock units with different vesting terms.

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).

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