Form 4: Virgin Galactic CEO Michael Colglazier Reports Stock Transaction
SEC Form 4 Filing
Virgin Galactic's CEO, Michael Colglazier, reports the withholding of shares to cover tax obligations related to vested restricted stock units.
Summary
- On May 6, 2024, Michael Colglazier, CEO and President of Virgin Galactic Holdings, Inc., reported a transaction involving common stock.
- The transaction involved the withholding of 16,516 shares of common stock by the issuer to cover tax withholding obligations.
- This withholding was related to the quarterly vesting of restricted stock units granted on July 20, 2020.
- The price per share for the transaction was $0.948.
- Following the transaction, Colglazier directly owns 817,359 shares of common stock.
- He also indirectly owns 317,840 shares through a Family Revocable Trust, 33,850 shares through a Family Trust for Son 1, and 33,850 shares through a Family Trust for Son 2.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing related to tax withholding, indicating a neutral sentiment.
Industry Context
Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. This filing indicates a standard tax withholding procedure related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 07/20/2020 | Date of grant for the restricted stock units. |
| 05/06/2024 | Date of the stock transaction (tax withholding). |
| 05/08/2024 | Date of signature for the Form 4 filing. |
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