Colglazier Michael A 4
4 · Virgin Galactic Holdings, Inc · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
Virgin Galactic CEO Michael Colglazier Sells 43,103 Shares
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.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-16+43,103→ 63,977 total - Disposition to Issuer
Common Stock
[F2]2026-03-16$2.48/sh−43,103$106,895→ 20,874 total - Exercise/Conversion
Restricted Stock Units
[F3][F4]2026-03-16−43,103→ 0 total→ Common Stock (43,103 underlying)
- 15,892(indirect: By Trust)
Common Stock
- 1,692(indirect: By Trust)
Common Stock
- 1,692(indirect: By Trust)
Common Stock
Footnotes (4)
- [F1]Excludes 12,121 shares underlying performance share units granted on March 16, 2023 (adjusted to reflect the 1-for-20 reverse stock split effected by the Issuer on June 14, 2024) formerly reported as beneficially owned by the Reporting Person which were subject to vesting requirements which were not met.
- [F2]Reflects the cash settlement of previously vested restricted stock units.
- [F3]Restricted stock units convert into common stock on a one-for-one basis.
- [F4]Represents an award of restricted stock units, which fully vested with respect to the remaining 50% of the restricted stock units and were settled in cash based on the value of a share of common stock on March 16, 2026. The restricted stock units may be settled in shares of the Issuer's common stock or, in the Issuer's discretion, cash, upon vesting.