Form 4: Virgin Galactic Executive Alistair Burns Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
Alistair Burns, SVP and Chief Information Officer of Virgin Galactic, reported the disposal of shares to cover tax withholding obligations related to vesting restricted stock units.
Summary
- Alistair Burns, SVP, Chief Information Officer of Virgin Galactic Holdings, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On April 9, 2024, Burns disposed of 325 shares of common stock at $1.18 per share to cover tax obligations related to the vesting of restricted stock units granted on March 16, 2022.
- Additionally, Burns disposed of 5,744 shares of common stock at $1.18 per share to cover tax obligations related to the vesting of restricted stock units granted on March 16, 2023.
- Following these transactions, Burns beneficially owns 379,432 shares of Virgin Galactic common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to the market.
Stakeholder Impact
- The disposal of shares by a company executive could have a minor negative impact on shareholder sentiment, although it is a common practice for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/16/2022 | Date of grant for restricted stock units related to the disposal of 325 shares. |
| 03/16/2023 | Date of grant for restricted stock units related to the disposal of 5,744 shares. |
| 04/09/2024 | Date of stock disposal for tax withholding obligations. |
| 04/11/2024 | Date of signature for the Form 4 filing. |
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