John A. Herrmann III - Nov 3, 2021 Form 4 Insider Report for NOVAVAX INC (NVAX)

Role
EVP, Chief Legal Officer
Signature
/s/ John A. Herrmann III
Stock symbol
NVAX
Transactions as of
Nov 3, 2021
Transactions value $
-$904,600
Form type
4
Date filed
11/5/2021, 05:02 PM
Previous filing
Nov 3, 2021
Next filing
Dec 1, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NVAX Common Stock Options Exercise $95.4K +5K +181.16% $19.08 7.76K Nov 3, 2021 Direct F1
transaction NVAX Common Stock Sale -$1M -5K -64.43% $200.00 2.76K Nov 3, 2021 Direct F1
holding NVAX Common Stock 1.75K Nov 3, 2021 By spouse F2

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 NVAX Stock Option (Right to Buy) Options Exercise $0 -5K -4.76% $0.00 100K Nov 3, 2021 Common Stock 5K $19.08 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.
F2 The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
F3 On April 17, 2020, the reporting person was granted an option to purchase 125,000 shares of common stock of the Company pursuant to the Company's Amended and Restated 2015 Stock Incentive Plan, as amended. The vesting of the shares subject to this option grant is subject to the satisfaction of a performance-based vesting requirement, followed by time-based vesting. The performance metric required that the Company initiate a COVID-19 Phase 2 clinical trial within twelve (12) months of the grant date, which occurred when the Company initiated its Phase 2 clinical trial of NVX-CoV2373 in the U.S. on August 24, 2020. Following that event, fifty percent (50%) of the shares vested on August 24, 2021, the first anniversary of the initiation date, and the remaining fifty percent (50%) of the shares will vest on August 24, 2022, the second anniversary of the initiation date subject to continued employment through such vesting date.