Ahrens Douglas T 4

What Happened

• Douglas T. Ahrens, Chief Financial Officer of Virgin Galactic (SPCE), exercised/converted derivatives into 35,560 shares and those shares were immediately settled to the issuer for cash. The disposition price was $2.48 per share, generating proceeds of $88,189. The reported exercise showed an acquisition price of $0.00 (no cash paid on exercise) and an immediate cash settlement to the company.

Key Details

• Transaction date: March 16, 2026 (reported on Form 4 filed March 18, 2026).
• Derivative exercise: 35,560 shares acquired at $0.00 (transaction code M).
• Disposition: 35,560 shares disposed to issuer at $2.48/share for $88,189 (transaction code D).
• Filing timeliness: Reported within the required Form 4 window (timely).
• Shares owned after transaction: Not specified in the summary filing provided here.
• Relevant footnotes from the filing:
  • F1: Excludes 7,342 shares underlying performance share units (granted Mar 16, 2023, adjusted for a 1-for-20 reverse split) that did not vest.
  • F2/F4: Reflects cash settlement of vested restricted stock units; F4 notes an award of RSUs where the remaining 50% vested and were settled in cash on March 16, 2026. RSUs convert one-for-one into common stock or may be settled in cash (F3/F4).

Context

• This was effectively a cash-settlement of vested/convertible awards (exercise of derivatives followed by immediate sale to the issuer), not an open-market purchase. Cash settlements and immediate dispositions are commonly used for tax withholding or to realize value on vested awards and do not necessarily signal a change in personal outlook.