Daniel M. Hart - Jan 4, 2022 Form 4 Insider Report for Virgin Orbit Holdings, Inc. (VORB)

Role: Chief Executive Officer, Director
Signature: /s/ Derrick Boston, Attorney-in-fact
Stock symbol: VORB
Transactions as of: Jan 4, 2022
Transactions value $: $0
Form type: 4
Date filed: 1/6/2022, 04:45 PM
Previous filing: Jan 3, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	VORB	Stock Option	Award	$0	+820K		$0.00	820K	Jan 4, 2022	Common Stock	820K	$6.83	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The stock option vests and becomes exercisable as to 25% of the shares underlying the stock option on December 29, 2022, and the remaining 75% of the shares underlying the stock option will vest in six substantially equal installments on each successive six-month anniversary of December 29, 2021, subject to continued service through the applicable vesting date. In addition, the Reporting Person's stock option will vest and become exercisable in full upon a termination of employment without "cause" or for "good reason."

Content

The stock option vests and becomes exercisable as to 25% of the shares underlying the stock option on December 29, 2022, and the remaining 75% of the shares underlying the stock option will vest in six substantially equal installments on each successive six-month anniversary of December 29, 2021, subject to continued service through the applicable vesting date. In addition, the Reporting Person's stock option will vest and become exercisable in full upon a termination of employment without "cause" or for "good reason."