Virgin Galactic Elects New Directors, Adjusts Executive Pay

Ticker: SPCE · Form: 8-K · Filed: 2025-08-01T00:00:00.000Z

Sentiment: neutral

Topics: board-changes, executive-compensation, leadership

Related Tickers: SPCE

TL;DR

Virgin Galactic adds 2 directors, updates CEO/CFO pay packages.

AI Summary

Virgin Galactic Holdings, Inc. announced on July 29, 2025, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Dr. George Whitesides and Ms. Michelle K. Lee, to its Board of Directors, effective immediately. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Michael P. Moses, and Chief Financial Officer, Jonathan R. Counselman, detailing their compensation packages.

Why It Matters

These changes in leadership and compensation could signal a strategic shift or a renewed focus on operational efficiency and governance for Virgin Galactic as it navigates the competitive space tourism market.

Risk Assessment

Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts that may impact future strategy and performance.

Key Players & Entities

FAQ

Who are the new directors elected to Virgin Galactic's Board?

Dr. George Whitesides and Ms. Michelle K. Lee were elected as new directors.

When were the new directors elected?

The new directors were elected effective July 29, 2025.

What positions do Michael P. Moses and Jonathan R. Counselman hold?

Michael P. Moses is the Chief Executive Officer, and Jonathan R. Counselman is the Chief Financial Officer.

What type of agreements were entered into with the CEO and CFO?

New employment agreements detailing their compensation packages were entered into.

What is the filing date of this 8-K report?

The filing date of this 8-K report is August 1, 2025, with the earliest event reported on July 29, 2025.

From the Filing

0001706946-25-000118.txt : 20250801 0001706946-25-000118.hdr.sgml : 20250801 20250801163216 ACCESSION NUMBER: 0001706946-25-000118 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 34 CONFORMED PERIOD OF REPORT: 20250729 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20250801 DATE AS OF CHANGE: 20250801 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Virgin Galactic Holdings, Inc CENTRAL INDEX KEY: 0001706946 STANDARD INDUSTRIAL CLASSIFICATION: TRANSPORTATION SERVICES [4700] ORGANIZATION NAME: 01 Energy & Transportation EIN: 853608069 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38202 FILM NUMBER: 251176657 BUSINESS ADDRESS: STREET 1: 1700 FLIGHT WAY CITY: TUSTIN STATE: CA ZIP: 92782 BUSINESS PHONE: (575) 424-2100 MAIL ADDRESS: STREET 1: 1700 FLIGHT WAY CITY: TUSTIN STATE: CA ZIP: 92782 FORMER COMPANY: FORMER CONFORMED NAME: Virgin Galactic Vehicle Holdings, Inc DATE OF NAME CHANGE: 20191025 FORMER COMPANY: FORMER CONFORMED NAME: Social Capital Hedosophia Holdings Corp. DATE OF NAME CHANGE: 20170517 8-K 1 spce-20250729.htm 8-K spce-20250729 FALSE 0001706946 0001706946 2025-07-29 2025-07-29 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   ____________________________ FORM 8-K ____________________________ CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): July 29, 2025 ____________________________________________________________________________________________________________ Virgin Galactic Holdings, Inc . (Exact name of registrant as specified in its charter)   ____________________________ Delaware   001-38202   85-3608069 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.) 1700 Flight Way Tustin , California 92782 (Address of principal executive offices) (Zip Code) ( 949 ) 774-7640 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report)   ____________________________   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions :   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered   Common stock, $0.0001 par value per share   SPCE   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company   ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 29, 2025 (the “Effective Date”), Virgin Galactic Holdings, Inc., together with Virgin Galactic, LLC (which we refer to, collectively with Virg

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