Stanley C. Erck - 14 Dec 2022 Form 4 Insider Report for NOVAVAX INC (NVAX)

Role
President and CEO, Director
Signature
/s/ John A. Herrmann III, Attorney-in-Fact
Issuer symbol
NVAX
Transactions as of
14 Dec 2022
Net transactions value
-$39,974
Form type
4
Filing time
16 Dec 2022, 16:00:48 UTC
Previous filing
28 Sep 2022
Next filing
23 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NVAX Common Stock Options Exercise +6,966 +22% 38,812 14 Dec 2022 Direct F1, F2
transaction NVAX Common Stock Tax liability $39,974 -2,320 -6% $17.23 36,492 14 Dec 2022 Direct F3, F4

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 Restricted Stock Units Options Exercise $0 -6,966 -50% $0.000000 6,967 14 Dec 2022 Common Stock 6,966 Direct F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares were received by the Reporting Person in connection with vesting of restricted stock units ("RSUs").
F2 Each RSU represents a contingent right to receive one share of Novavax, Inc. (the "Company") common stock.
F3 The shares were withheld by the Company to satisfy tax withholding obligations in connection with the vesting of RSUs.
F4 The shares reported on this Form 4 are subject to a lock-up agreement between the Reporting Person, J.P. Morgan Securities LLC and Jefferies LLC, dated December 14, 2022.
F5 The RSUs subject to this grant under the Company's Amended and Restated 2015 Stock Incentive Plan, as amended, vested or will vest with respect to one-third (1/3) of the RSUs on each of the first three (3) anniversaries of the December 14, 2020 grant date, in each case subject to continued employment through such vesting date.