Wanda Sigur
Virgin Galactic HoldingsAbout Wanda Sigur
Wanda Sigur, 66, has served as an independent director of Virgin Galactic since December 2021. She is President and Founder of Lambent Engineering LLC (since 2018), and previously held senior leadership roles at Lockheed Martin Space Systems from 1979–2017, including Vice President & General Manager of Civil Space (2014–2017). She holds a B.S. in Materials Science & Engineering (Rice University) and an MBA (Tulane University), and is a member of the NAE, IAA, TAMEST, and the National Academies’ Aeronautics and Space Evaluation Board (ASEB) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lambent Engineering LLC | President & Founder | 2018–Present | Independent aerospace consulting; design, analysis, prototype build/test solutions |
| Lockheed Martin Space Systems | Vice President & GM, Civil Space | 2014–2017 | Executive responsibility for human spaceflight and space science missions for civil agencies |
| Lockheed Martin Space Systems | Senior leadership roles | 1979–2013 | Various senior roles across the space systems portfolio |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Charles Stark Draper Laboratory, Inc. | Director | Since Mar 2021 | Board member of leading R&D lab |
| National Academy of Engineering (NAE) | Member | N/A | Professional recognition of engineering leadership |
| International Academy of Astronautics (IAA) | Member | N/A | Aerospace community leadership |
| TAMEST | Member | N/A | Texas-based science and engineering academy |
| National Academies ASEB | Member | N/A | Oversight and evaluation in aeronautics/space |
Board Governance
- Independence: The Board determined Ms. Sigur is independent under NYSE rules .
- Tenure: Director since December 2021; currently a non-employee director .
- Attendance: In 2024, the Board met 9 times; each incumbent director attended at least 75% of Board and committee meetings during their service period. All directors attended the 2024 annual meeting .
- Executive sessions: Independent directors meet regularly; the independent Chair presides .
| Committee | Role | Chair | Meetings in 2024 |
|---|---|---|---|
| Nominating & Corporate Governance | Member | W. Gilbert West | 4 |
| Safety | Member | Craig Kreeger | 6 |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Director Cash Retainer | $125,000 | Paid quarterly in arrears |
| Committee Member Retainers | $7,500 (Nominating) + $7,500 (Safety) | Per-committee non-chair retainers |
| Total Fees Earned in Cash (2024) | $140,000 | As reported in Director Compensation table |
Performance Compensation
| Equity Component | Grant Value | Vesting | Change-in-Control Treatment | Outstanding RSUs (12/31/2024) |
|---|---|---|---|---|
| Annual RSU grant (non-Chair) | $125,000 | Vests in full by 1-year anniversary or next annual meeting (if not standing for reelection), subject to service | Director equity awards vest in full immediately prior to a change in control | 7,337 |
| Initial RSU grant (on first appointment) | $150,000 | Vests one-third on each anniversary, subject to service | Same as above | N/A (program term; specific balances not itemized) |
- No director performance metrics are tied to equity vesting; awards are time-based per program terms .
Other Directorships & Interlocks
| Category | Company/Relationship | Role | Notes |
|---|---|---|---|
| Public company boards (current/past 5 years) | None disclosed | — | No public company directorships listed in biography |
| Private/non-profit | Charles Stark Draper Laboratory | Director | External board role |
| Virgin Group structural influence (board context) | VG designees under Stockholders’ Agreement | Board-level | Virgin Investments Limited retains rights to designate directors (currently Kreeger and Brambilla) |
Expertise & Qualifications
- Aerospace and safety: Senior leadership of national space programs (human spaceflight, planetary/solar/astrophysical missions; Earth remote sensing) .
- Professional recognition: Member of NAE, IAA, TAMEST; ASEB participant .
- Education: B.S. Materials Science & Engineering (Rice), MBA (Tulane) .
Equity Ownership
| Holder | Shares Beneficially Owned (3/31/2025) | Ownership % | RSUs Outstanding (12/31/2024) |
|---|---|---|---|
| Wanda Sigur | 2,992 | <1% | 7,337 |
- Stock ownership guidelines: Non-employee directors must hold shares equal to 5x annual retainer within five years of service; compliance reviewed annually; unvested RSUs count toward the guideline, but options/warrants and performance-based awards do not .
- Anti-hedging/pledging: The Company prohibits directors from hedging and pledging Company securities .
Governance Assessment
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Strengths
- Independent director with deep aerospace and safety oversight credentials; serves on Safety Committee, aligning expertise with board risk oversight .
- Attendance meets required threshold; participated in 2024 annual meeting—supports engagement .
- Director pay structure balanced between cash retainer and time-based RSUs; ownership guidelines (5x retainer) and anti-hedging/pledging policies enhance alignment .
- No Sigur-specific related-party transactions disclosed in the proxy’s related-person transactions section .
-
Potential Risks/Watch Items
- Change-in-control acceleration of director RSUs is shareholder-sensitive; monitor for any future modifications that increase guarantees (currently standard immediate vesting) .
- External consulting via Lambent Engineering LLC is disclosed; while no transactions with SPCE are reported, continue monitoring for any future engagements that could create related-party exposure .
- Board-level structural influence from Virgin Group (VG designees) persists; while not affecting Sigur’s independence designation, it is a broader governance consideration for minority shareholders .
