8-K
filed April 25, 2023, 7:59 PM ET
ticker SPCE
CIK 0001706946
leadership
confidence high
sentiment neutral
materiality 0.60
Virgin Galactic appoints new directors Mabus and Strandberg; Lovell named Chair; Bain and Mattson to retire
Virgin Galactic Holdings, Inc
- Raymond Mabus Jr. (former US Navy Secretary) and Diana Strandberg (former Dodge & Cox exec) appointed to board, effective April 21, 2023.
- Evan Lovell, Virgin Group CIO, appointed Chair (was interim chair since Feb 2022).
- Adam Bain and George Mattson to retire at 2023 annual meeting, not standing for re-election; no disagreement with company.
- Board size increased to 11 with new appointments, will be reduced to 9 after annual meeting when Bain and Mattson leave.
- Mabus appointed Lead Independent Director; Strandberg to serve on Audit and Compensation Committees starting May 22, 2023.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Adam Bain departed as Director at Virgin Galactic Holdings, Inc.
- Action
- will not stand for re-election
- Role
- Director
Exact text from the filing
each of Adam Bain and George Mattson notified the Board that he plans to retire from the Board at the end of his current term and will not stand for re-election at the Annual Meeting.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Diana S. Strandberg was elected as Director at Virgin Galactic Holdings, Inc.
- Action
- elected
- Role
- Director
Exact text from the filing
elected Raymond E. Mabus, Jr. and Diana S. Strandberg as directors to fill the vacancies on the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
George Mattson departed as Director at Virgin Galactic Holdings, Inc.
- Action
- will not stand for re-election
- Role
- Director
Exact text from the filing
each of Adam Bain and George Mattson notified the Board that he plans to retire from the Board at the end of his current term and will not stand for re-election at the Annual Meeting.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Raymond E. Mabus, Jr. was elected as Director at Virgin Galactic Holdings, Inc.
- Action
- elected
- Role
- Director
Exact text from the filing
elected Raymond E. Mabus, Jr. and Diana S. Strandberg as directors to fill the vacancies on the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Raymond E. Mabus, Jr. was appointed as Lead Independent Director at Virgin Galactic Holdings, Inc.
- Action
- appointed
- Role
- Lead Independent Director
Exact text from the filing
Mr. Mabus was appointed to serve as the Company’s Lead Independent Director.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Evan Lovell was appointed as Chair at Virgin Galactic Holdings, Inc.
- Action
- appointed
- Role
- Chair
Exact text from the filing
Evan Lovell was appointed to serve as Chair of the Company’s Board
View on SEC.gov
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