SEC Form 4 · accession 0001209191-19-018988
NOVAVAX INC · NVAX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stanley C Erck
Officer — President and CEO · Director
Period of report
Mar 8, 2019
Accepted (ET)
Mar 12, 2019 · 7:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001000694
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Mar 8, 2019 | A | 607,248 | A | — | — | Common Stock | 607,248 | 607,248 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") represents a contingent right to receive one share of Novavax, Inc. (the "Company") common stock.
- F2Vesting of the RSUs subject to this grant under the Company's Amended and Restated 2015 Stock Incentive Plan, as amended, is subject to the satisfaction of both (1) a time-based vesting requirement, pursuant to which one hundred percent (100%) of the RSUs vesting on the first anniversary of the March 8, 2019 grant date subject to continued employment through such vesting date; and (2) performance-based vesting requirements, pursuant to which (i) 80% of the RSUs will vest based on achieving a regulatory milestone associated with ResVax on or before September 30, 2019; or (ii) 20% of the RSUs will vest based on achieving a regulatory milestone associated with NanoFlu on or before September 30, 2019.