Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic” or the “Company”) announced that the Compensation Committee of Virgin Galactic’s Board of Directors approved the grant of time-based inducement restricted stock unit awards of 7,546 shares of Virgin Galactic common stock to one new non-executive employee, effective August 15, 2023.
The award was 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 award 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 award was 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 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/.