SPCE · Virgin Galactic Holdings, Inc.

0001706946-26-000026

Summary

Virgin Galactic Holdings, Inc. announced that director Luigi Brambilla will not stand for re-election at the 2026 Annual Meeting for personal reasons, with Virgin Investments Limited designating Allison Belzberg as his replacement nominee.

Key takeaways

Luigi Brambilla informed the Company on April 13, 2026, that he will not stand for re-election to the Board upon completion of his current term at the 2026 Annual Meeting.
Brambilla's decision is for personal reasons with no disagreement with the Company.
Virgin Investments Limited (VIL) has the right under the October 25, 2019 Stockholders’ Agreement to designate two Board nominees at the 2026 Annual Meeting.
VIL designated Allison Belzberg, Director, Investment and Commercial of Virgin Management USA, Inc., for nomination on April 14, 2026.
Additional information on Ms. Belzberg will be in the definitive proxy statement prior to the 2026 Annual Meeting.

Full analysis

The departure of Luigi Brambilla from the Board at the 2026 Annual Meeting is stated to be due to personal reasons, with no disagreements noted, suggesting continuity in governance. Virgin Investments Limited's prompt designation of Allison Belzberg, from a Virgin Management USA subsidiary, maintains their contractual right to two Board seats under the 2019 Stockholders’ Agreement. This transition preserves VIL's influence without disruption, with full details on the nominee forthcoming in the proxy statement.