leadership
confidence high
sentiment neutral
materiality 0.30
Virgin Galactic amends severance terms for CFO and People Officer; change-in-control multipliers raised
Virgin Galactic Holdings, Inc
- CFO Douglas Ahrens' cash severance multiplier increases from 1.0x to 1.5x upon qualifying termination within 24 months after a change in control.
- Both Ahrens and Chief People Officer Aparna Chitale get company-subsidized healthcare extended from 12 to 18 months after a qualifying termination post-change-in-control.
- Amendments also provide for earned but unpaid annual bonus for the prior year upon any qualifying termination.