Chitale Aparna 4

What Happened

• Aparna Chitale, CPO & EVP, Customer Operations at Virgin Galactic (SPCE), had 13,470 restricted-stock units (RSUs) convert/exercise on March 16, 2026 and those units were settled to the issuer for cash. The disposal to the issuer was at $2.48 per share, producing $33,406 in cash proceeds. The Form 4 shows conversion/exercise (code M) entries and a disposition-to-issuer (code D) entry for the same 13,470 units.

Key Details

• Transaction date: March 16, 2026.
• Entries reported: exercise/conversion of derivative (M) 13,470 @ $0.00; disposition to issuer (D) 13,470 @ $2.48 for $33,406; a separate M entry reflects the derivative conversion mechanics reported in the filing.
• Shares owned after transaction: Not specified in the Form 4 provided.
• Footnotes of note:
  • F4/F2: These transactions reflect RSUs that vested and were settled in cash (the company may settle RSUs in shares or cash).
  • F3: Restricted stock units convert to common stock on a one-for-one basis.
  • F1: The filing excludes 2,797 PSU shares that did not vest.
• Timeliness: Filed 2026-03-18 for a 2026-03-16 transaction — no late filing indicator was reported.

Context

• This was a cash settlement of vested RSUs (conversion/exercise followed by settlement to the issuer), not an open-market sale. Cash settlements are often routine compensation-related events and do not necessarily indicate an insider's buy/sell market view. Transaction codes: M = exercise/conversion of derivative (here RSUs), D = disposition to issuer (cash settlement).