Form 4 for NVAX NOVAVAX INC
Accepted 2021-09-24 00:00:00 ET · period of report 2021-08-24 · accession 0001209191-21-057656 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DI | 2021-09-24 | 2021-08-24 | NVAX | Herrmann John A III | EVP, CLO | F - Tax | $233.01 | -697 | 1,303 | -35% | -$162.4K |
| DI | 2021-09-24 | 2021-08-24 | NVAX | Herrmann John A III | EVP, CLO | M - OptEx | — | +2,000 | 2,000 | New | — |
| DI | 2021-09-24 | 2021-08-24 | NVAX | Herrmann John A III | EVP, CLO | M - OptEx | $0.00 | -2,000 | 2,000 | -50% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2021-08-24 | F | D | 697 | $233.01 | 1,303 | I By spouse | — | — | (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. |
| 2 | Common | Common Stock | 2021-08-24 | M | A | 2,000 | — | 2,000 | I By spouse | — | — | (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. |
| 3 | Derivative | Restricted Stock Units | 2021-08-24 | M | D | 2,000 | $0.00 | 2,000 | I By spouse | — · — to 2030-04-17 | 2,000 Common Stock | (F4) The reporting person acquired beneficial ownership of these RSUs upon his marriage to the owner of the RSUs on May 31, 2021. 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. (F1) Each restricted stock unit ("RSU") represents a contingent right to receive one share of Novavax, Inc. (the "Company") common stock. (F3) On April 17, 2020, the reporting person's spouse, who is a consultant for the Company, was granted 4,000 RSUs pursuant to the Company's Amended and Restated 2015 Stock Incentive Plan, as amended. The vesting of the RSUs subject to this grant is subject to the satisfaction of a performance-based vesting requirement, followed by time-based vesting. The performance metric required that the Company initiate a COVID-19 Phase 2 clinical trial within twelve (12) months of the grant date, which occurred when the Company initiated its Phase 2 clinical trial of NVX-CoV2373 in the U.S. on August 24, 2020. Following that event, fifty percent (50%) of the RSUs vested on August 24, 2021, the first anniversary of the initiation date, and the remaining fifty percent (50%) of the RSUs will vest on August 24, 2022, the second anniversary of the initiation date subject to continued service with the Company through such vesting date. |