Form 4: Virgin Galactic CEO Michael Colglazier Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Virgin Galactic's CEO, Michael Colglazier, reports changes in his beneficial ownership of company stock due to vesting of restricted stock units and tax withholding.
Summary
- Michael Colglazier, CEO and President of Virgin Galactic Holdings, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock on April 9, 2025.
- The transactions occurred on April 7, 2025, and involved the vesting of restricted stock units (RSUs) and the subsequent withholding of shares to cover tax obligations.
- Colglazier acquired 2,273 shares of common stock upon the vesting of RSUs.
- A total of 2,243 shares were withheld by the issuer to cover tax obligations related to the vesting of RSUs granted on March 16, 2023, March 17, 2022 and March 24, 2021.
- Following these transactions, Colglazier directly owns 32,243 shares of common stock and indirectly owns 15,892 shares through a family revocable trust, 1,692 shares through a family trust for Son 1, and 1,692 shares through a family trust for Son 2.
- He also holds 18,182 unvested restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to executive compensation, and it doesn't inherently indicate positive or negative sentiment. It's a neutral event.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. It is a normal part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| March 24, 2021 | Date of grant of restricted stock units where shares were withheld to cover tax obligations. |
| March 17, 2022 | Date of grant of restricted stock units where shares were withheld to cover tax obligations. |
| March 16, 2023 | Date of grant of restricted stock units 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. |
| March 16, 2024 | 25% of the RSUs granted on March 16, 2023 vested. |
| June 16, 2024 | Beginning of the 12 quarterly installments for the remaining 75% of the RSUs granted on March 16, 2023. |
| April 07, 2025 | Transaction date for RSU vesting and tax withholding. |
| April 09, 2025 | Date of Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Michael Colglazier, Virgin Galactic, SPCE, Restricted Stock Units, RSU, Tax Withholding, SEC Filing
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