Gregory M. Glenn - 06 Mar 2023 Form 4 Insider Report for NOVAVAX INC (NVAX)

Role: President, R&D
Signature: /s/ John A. Herrmann III, Attorney-in-Fact
Issuer symbol: NVAX
Transactions as of: 06 Mar 2023
Net transactions value: +$68,248
Form type: 4
Filing time: 14 Mar 2023, 17:16:58 UTC
Previous filing: 16 Dec 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NVAX	Common Stock	Purchase	$22,454	+3,000	+35%	$7.48	11,473	06 Mar 2023	Direct	F1, F2
transaction	NVAX	Common Stock	Purchase	$14,088	+2,000	+17%	$7.04	13,473	07 Mar 2023	Direct	F3
transaction	NVAX	Common Stock	Purchase	$6,500	+1,000	+7.4%	$6.50	14,473	10 Mar 2023	Direct	F4
transaction	NVAX	Common Stock	Options Exercise	$41,063	+6,298	+44%	$6.52	20,771	10 Mar 2023	Direct	F5
transaction	NVAX	Common Stock	Tax liability	$15,857	-2,432	-12%	$6.52	18,339	10 Mar 2023	Direct

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	-6,298	-33%	$0.000000	12,596	10 Mar 2023	Common Stock	6,298		Direct	F6, F7

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

Explanation of Responses:

Id	Content
F1	The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.2658 to $7.65, inclusive. The reporting person undertakes to provide to Novavax, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote.
F2	Includes 464 shares acquired on January 31, 2023 under the Company's Amended and Restated 2013 Employee Stock Purchase Plan, as amended.
F3	The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.0089 to $7.0594, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote.
F4	The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.45 to $6.55, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote.
F5	The shares were received by the reporting person in connection with vesting of restricted stock units ("RSUs").
F6	Each RSU represents a contingent right to receive one share of the Company common stock.
F7	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 March 10, 2022 grant date, in each case subject to continued employment through such vesting date.