{"schema_version":"secwatch.filing_event.v1","accession":"0001706946-25-000118","form_type":"8-K","ticker":"SPCE","cik":"0001706946","company_name":"Virgin Galactic Holdings, Inc","filed_at":"2025-08-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:44.727800+00:00","generated_at":"2026-05-17T21:52:24.133892+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"CEO Michael Colglazier renews contract with $2.25M retention bonus tied to first revenue Delta flight","bullets":["Base salary rises to $1.25M from $1.125M effective April 1, 2026; target bonus remains 150% of base.","$1.25M retention bonus paid by July 31, 2025; remaining $1M due upon first revenue-generating Delta spaceflight.","Annual long-term incentive target set at $6M beginning 2026; severance multiplier increased to 2x with 24-month healthcare.","Clawback of retention bonus applies if CEO terminated for cause or resigns without good reason before Dec 31, 2026 (waived upon change of control).","New five-year term with automatic 12-month renewals; CEO retains Spaceflight benefit for self and up to three guests."],"urls":{"canonical":"https://secwatch.observer/filing/0001706946-25-000118","json":"https://secwatch.observer/filing/0001706946-25-000118.json","markdown":"https://secwatch.observer/filing/0001706946-25-000118.md","text":"https://secwatch.observer/filing/0001706946-25-000118.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1706946/000170694625000118/0001706946-25-000118-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1706946/000170694625000118/spce-20250729.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T21:52:24.133892+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}