Colglazier Michael A 4

What Happened Michael A. Colglazier, CEO and President of Virgin Galactic (SPCE), disposed of 43,103 shares on March 16, 2026. The shares were recorded as a disposition to the issuer at $2.48 per share, totaling approximately $106,895. The Form 4 also shows conversion/exercise entries for 43,103 derivative units at $0.00, reflecting the conversion/settlement of equity awards rather than a cash purchase.

Key Details

• Transaction date: March 16, 2026. Sale price: $2.48 per share; proceeds ≈ $106,895.
• Report filed on March 18, 2026 (timely filing for a Form 4 reporting a March 16 transaction).
• The filing shows exercise/conversion of derivatives (code M) at $0.00 and a disposition to issuer (D); footnotes indicate cash settlement of vested restricted stock units (RSUs).
• Shares owned after the transaction are not specified in the excerpt provided.
• Footnotes of note: F4 says the RSUs fully vested for the remaining 50% and were settled in cash on March 16, 2026; F2 and F3 confirm cash settlement and one-for-one conversion rules; F1 notes 12,121 performance share units did not vest and are excluded.

Context This was effectively a cash settlement of vested RSUs (not an open-market purchase). Such transactions commonly reflect compensation vesting and cash settlement choices rather than a typical buy/sell trade driven by market timing. The Form 4 shows the conversion/exercise of derivative awards and immediate settlement, resulting in cash proceeds to the insider.