John A. Herrmann III - Sep 26, 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: Sep 26, 2021
Transactions value $: -$531,311
Form type: 4
Date filed: 9/28/2021, 05:04 PM
Previous filing: Sep 17, 2021
Next filing: Oct 5, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NVAX	Common Stock	Options Exercise		+3.97K	+562.75%		4.68K	Sep 26, 2021	Direct	F1
transaction	NVAX	Common Stock	Tax liability	-$476K	-1.92K	-41.01%	$248.16^*	2.76K	Sep 26, 2021	Direct
transaction	NVAX	Common Stock	Options Exercise		+666	+51.11%		1.97K	Sep 26, 2021	By spouse	F1, F2
transaction	NVAX	Common Stock	Tax liability	-$55.1K	-222	-11.27%	$248.16^*	1.75K	Sep 26, 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	Restricted Stock Units	Options Exercise	$0	-3.97K	-50%	$0.00	3.97K	Sep 26, 2021	Common Stock	3.97K		Direct	F1, F3
transaction	NVAX	Restricted Stock Units	Options Exercise	$0	-666	-49.96%	$0.00	667	Sep 26, 2021	Common Stock	666		By spouse	F1, F2, F4

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

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of Novavax, Inc. (the "Company") common stock.
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	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 September 26, 2019 grant date (the "Grant Date"), in each case subject to continued employment through such vesting date.
F4	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 Grant Date, in each case subject to continued service with the Company through such vesting date.