Filip Dubovsky - Sep 16, 2023 Form 4 Insider Report for NOVAVAX INC (NVAX)

Role: President, R&D
Signature: /s/ John A. Herrmann III, Attorney-in-Fact
Stock symbol: NVAX
Transactions as of: Sep 16, 2023
Transactions value $: $50,393
Form type: 4
Date filed: 9/19/2023, 05:16 PM
Previous filing: Jun 21, 2023
Next filing: Nov 7, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NVAX	Common Stock	Options Exercise	$97.5K	+12.6K	+28.06%	$7.71	57.7K	Sep 16, 2023	Direct	F1
transaction	NVAX	Common Stock	Tax liability	-$47.1K	-6.11K	-10.59%	$7.71	51.6K	Sep 16, 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	-12.6K	-100%	$0.00^*	0	Sep 16, 2023	Common Stock	12.6K		Direct	F2, F3

* 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 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-half (1/2) of the RSUs on each of the first two (2) anniversaries of the September 16, 2021 grant date, in each case subject to continued employment with the Company through such vesting date.