John A. Herrmann III - Dec 14, 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: Dec 14, 2021
Transactions value $: -$170,956
Form type: 4
Date filed: 12/16/2021, 04:16 PM
Previous filing: Dec 3, 2021
Next filing: Dec 22, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NVAX	Common Stock	Options Exercise		+2.1K	+76.09%		4.86K	Dec 14, 2021	Direct	F1
transaction	NVAX	Common Stock	Tax liability	-$171K	-1.02K	-20.88%	$168.43^*	3.85K	Dec 14, 2021	Direct
holding	NVAX	Common Stock						1.75K	Dec 14, 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	-2.1K	-33.33%	$0.00	4.2K	Dec 14, 2021	Common Stock	2.1K		Direct	F1, F3

* 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 December 14, 2020 grant date, in each case subject to continued employment through such vesting date.