Kim Sarah E 4

What Happened

• Sarah E. Kim, Executive Vice President, Chief Legal Officer & Corporate Secretary of Virgin Galactic, had 11,853 restricted stock units (RSUs) vested and converted on March 16, 2026. The RSUs were settled in cash rather than retained as shares: 11,853 units were effectively disposed to the issuer at $2.48 per share, producing $29,395 in cash proceeds. The filing shows corresponding derivative conversion entries (code M) and a disposition to the issuer (code D).

Key Details

• Transaction date: March 16, 2026; Form 4 filed March 18, 2026.
• Shares/units affected: 11,853 RSUs; disposition price reported $2.48; total cash received $29,395.
• Transaction codes: M = exercise/conversion of derivative (RSU conversion), D = disposition to issuer (cash settlement).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnotes of note:
  • F1: The entry reflects cash settlement of previously vested RSUs.
  • F2: RSUs convert into common stock on a one-for-one basis.
  • F3: These RSUs represented an award that fully vested (remaining 50%) and were settled in cash based on the March 16, 2026 share value; the company may settle RSUs in shares or cash upon vesting.

Context

• This was a cash settlement of vested RSUs rather than an open-market sale of existing shares. Cash settlements are commonly used to satisfy tax withholding or to choose cash instead of receiving share certificates and do not necessarily signal the insider's view on the stock. The filing shows conversion of the derivative award and immediate disposition to the issuer (a cash settlement), not a market sale to outside buyers.