Margaret Echerd - Nov 30, 2021 Form 4 Insider Report for Vaxart, Inc. (VXRT)

Role: SVP, Principal Accntng Officer
Signature: /s/ Margaret Echerd
Stock symbol: VXRT
Transactions as of: Nov 30, 2021
Transactions value $: -$23,112
Form type: 4
Date filed: 12/1/2021, 03:05 PM
Previous filing: Sep 13, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	VXRT	Common Stock	Options Exercise	$3.44K	+666		$5.17^*	666	Nov 30, 2021	Direct
transaction	VXRT	Common Stock	Options Exercise	$2.26K	+2.94K	+440.84%	$0.77	3.6K	Nov 30, 2021	Direct
transaction	VXRT	Common Stock	Sale	-$28.8K	-3.6K	-100%	$8.00^*	0	Nov 30, 2021	Direct	F1

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	VXRT	Stock Option (right to buy)	Options Exercise	$0	-666	-28.55%	$0.00	1.67K	Nov 30, 2021	Common stock	666	$5.17	Direct	F2
transaction	VXRT	Stock Option (right to buy)	Options Exercise	$0	-2.94K	-10%	$0.00	26.4K	Nov 30, 2021	Common stock	2.94K	$0.77	Direct	F3

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

Explanation of Responses:

Id	Content
F1	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 1, 2021.
F2	The stock option vests over a four-year period, with 25% of the shares subject to the stock option vesting on the first anniversary of the vesting commencement date of April 9, 2018, and the remaining shares in 36 equal monthly installments thereafter.
F3	The stock option vests over a four-year period, with 25% of the shares subject to the stock option vesting on the first anniversary of the vesting commencement date of May 10, 2019, and the remaining shares in 36 equal monthly installments thereafter.