Virgin Galactic Reports Inducement Award Under NYSE Listing Rule 303A.08

ORANGE COUNTY, Calif.--(BUSINESS WIRE)--Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic”) announced that the Compensation Committee of Virgin Galactic’s Board of Directors approved the grants of time-based inducement restricted stock units (“RSUs”) covering an aggregate of 484,793 shares of Virgin Galactic common stock and performance-vesting restricted stock units (“PSUs”) awards (collectively, the “Awards”) covering an aggregate of 384,793 shares of Virgin Galactic common stock to a new non-executive employee, effective April 15, 2026.

The awards were granted under Virgin Galactic’s Second Amended and Restated 2023 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Virgin Galactic. The vesting schedules for the Awards are as follows: (1) RSUs covering an aggregate of 284,793 shares of Virgin Galactic common stock will vest over a three-year period: 33.3% of the underlying shares will vest on the first and second anniversary of the grant date and the remaining 33.4% of the shares will vest on the third anniversary of the grant date, subject to continued service; (2) RSUs covering an aggregate of 200,000 shares of Virgin Galactic common stock will vest in full on the one-year anniversary of April 15, 2026, subject to continued service; (3) PSUs covering an aggregate of 284,793 shares of Virgin Galactic common stock shall vest, if at all, based on the achievement of performance goals over a performance period ending on December 31, 2028, subject to continued service; and (4) PSUs covering an aggregate of 100,000 shares of Virgin Galactic common stock shall vest, if at all, on the second-year anniversary of April 15, 2026, based on the achievement of specified performance goals, subject to continued service. The Awards were granted as an inducement material to the new employee entering into employment with Virgin Galactic, in accordance with NYSE Listing Rule 303A.08.

About Virgin Galactic

Virgin Galactic is an aerospace and space travel company, pioneering human-first spaceflight for private individuals, researchers, and governments with its advanced SpaceShips and launch vehicle. Scale and profitability are driven by next-generation vehicles capable of taking humans to space at an unprecedented frequency with an industry-leading cost structure. You can find more information at https://www.virgingalactic.com.