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Novavax Announces Grant of Inducement Awards Pursuant to Nasdaq Listing Rule 5635(c)(4)

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Novavax (NVAX) has granted inducement awards to its newly appointed Executive Vice President and Head of Research & Development, Dr. Ruxandra Draghia-Akli. The awards include a non-qualified stock option to purchase 64,150 shares at $9.01 per share and restricted stock units for 42,770 shares. The stock option will vest 25% after one year, with remaining shares vesting monthly over 36 months. The restricted stock units will vest in three equal annual installments. Both awards are subject to continued employment and were granted under the Novavax 2023 Inducement Plan in accordance with Nasdaq Listing Rule 5635(c)(4).

Novavax (NVAX) ha concesso premi per indennizzi al suo nuovo Vice presidente esecutivo e Responsabile della Ricerca e Sviluppo, Dr. Ruxandra Draghia-Akli. I premi includono un opzione azionaria non qualificata per l'acquisto di 64.150 azioni a $9,01 per azione e unità azionarie vincolate per 42.770 azioni. L'opzione azionaria si maturerà del 25% dopo un anno, con le azioni rimanenti che si matureranno mensilmente per un periodo di 36 mesi. Le unità azionarie vincolate si matureranno in tre rate annuali uguali. Entrambi i premi sono soggetti a continuare l'impiego e sono stati concessi nell'ambito del Piano di Indennizzo Novavax 2023 secondo la Regola 5635(c)(4) di Nasdaq.

Novavax (NVAX) ha otorgado premios de inducción a su nuevo Vicepresidente Ejecutivo y Jefe de Investigación y Desarrollo, Dr. Ruxandra Draghia-Akli. Los premios incluyen una opción de acciones no calificada para la compra de 64,150 acciones a $9.01 por acción y unidades de acciones restringidas para 42,770 acciones. La opción de acciones se consolidará en un 25% después de un año, y las acciones restantes se consolidarán mensualmente durante 36 meses. Las unidades de acciones restringidas se consolidarán en tres cuotas anuales iguales. Ambos premios están sujetos a la continua relación laboral y fueron otorgados bajo el Plan de Inducción Novavax 2023 de acuerdo con la Regla 5635(c)(4) de Nasdaq.

노바백스(NVAX)는 새로 임명된 부사장兼 연구개발 책임자인 Ruxandra Draghia-Akli 박사에게 유인 상을 수여했습니다. 상은 비자격 주식 옵션을 통해 주당 $9.01로 64,150주를 구매할 수 있는 권리와 제한 주식 단위로 42,770주가 포함됩니다. 주식 옵션은 1년 후 25%가 확정되며, 나머지 주식은 36개월 동안 월별로 확정됩니다. 제한 주식 단위는 3회의 동일한 연간 할부로 확정됩니다. 두 상은 계속 고용되는 조건을 따르며, 노바백스 2023 유인 계획에 따라 나스닥 상장 규칙 5635(c)(4)에 따라 수여되었습니다.

Novavax (NVAX) a accordé des primes d'incitation à sa nouvelle vice-présidente exécutive et responsable de la recherche et du développement, Dr. Ruxandra Draghia-Akli. Les primes comprennent une option d'achat d'actions non qualifiée pour l'achat de 64 150 actions à 9,01 $ l'action et unités d'actions restreintes pour 42 770 actions. L'option d'achat d'actions acquiert 25 % après un an, les actions restantes acquérant mensuellement pendant 36 mois. Les unités d'actions restreintes acquièrent des droits en trois versements annuels égaux. Les deux primes sont soumises à la poursuite de l'emploi et ont été accordées dans le cadre du Plan d'incitation Novavax 2023 conformément à la règle 5635(c)(4) de Nasdaq.

Novavax (NVAX) hat seinem neu ernannten Executive Vice President und Leiter der Forschungs- und Entwicklungsabteilung, Dr. Ruxandra Draghia-Akli, Anreizvergütungen gewährt. Die Vergütungen beinhalten eine nicht qualifizierte Aktienoption zum Kauf von 64.150 Aktien zu einem Preis von 9,01 USD pro Aktie und eingeschränkte Aktieneinheiten für 42.770 Aktien. Die Aktienoption wird nach einem Jahr zu 25% fällig, die verbleibenden Aktien werden monatlich über 36 Monate fällig. Die eingeschränkten Aktieneinheiten werden in drei gleichen jährlichen Raten fällig. Beide Auszeichnungen sind an die Fortsetzung der Beschäftigung gebunden und wurden im Rahmen des Novavax 2023 Incentive Plans gemäß den Nasdaq-Listing-Regeln 5635(c)(4) gewährt.

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GAITHERSBURG, Md., Nov. 15, 2024 /PRNewswire/ -- Novavax, Inc. (Nasdaq: NVAX), a global company advancing protein-based vaccines with its novel Matrix-M adjuvant, today announced that the Company granted a non- qualified stock option and restricted stock units to Ruxandra Draghia-Akli, MD, PhD, its newly appointed Executive Vice President and Head of Research & Development, as a material inducement for her entry into employment with Novavax, effective as of November 11, 2024 (the "grant date"). These awards were approved by the Compensation Committee of Novavax and were granted in accordance with Nasdaq Listing Rule 5635(c)(4) and pursuant to the Novavax, Inc. 2023 Inducement Plan.

The non-qualified stock option is an option to purchase 64,150 shares of Novavax's common stock with a per share exercise price of $9.01, the closing price of Novavax's common stock on the Nasdaq Global Select Market on the grant date. The non- qualified stock option has a ten-year term and will vest as to one-quarter of the underlying shares on the first anniversary of the grant date, and as to the remaining shares in equal monthly installments for 36 months thereafter, in each case generally subject to Dr. Draghia-Akli's continued employment with Novavax through the applicable vesting date. The restricted stock units are with respect to 42,770 shares of Novavax's common stock and will vest as to one-third of the restricted stock units on each of the first three anniversaries of the grant date, in each case generally subject to Dr. Draghia-Akli 's continued employment with Novavax through the applicable vesting date. The non-qualified stock option and restricted stock units are subject to the terms and conditions of the Novavax, Inc. 2023 Inducement Plan.

About Novavax
Novavax, Inc. (Nasdaq: NVAX) promotes improved health by discovering, developing and commercializing innovative vaccines to help protect against serious infectious diseases. Novavax, a global company based in Gaithersburg, Md., U.S., offers a differentiated vaccine platform that combines a recombinant protein approach, innovative nanoparticle technology and Novavax's patented Matrix-M adjuvant to enhance the immune response. The Company's portfolio includes its COVID-19 vaccine and its pipeline includes its COVID-19-Influenza Combination and stand-alone influenza vaccine candidates. In addition, Novavax's adjuvant is included in the University of Oxford and Serum Institute of India's R21/Matrix-M malaria vaccine. Please visit novavax.com and LinkedIn for more information.

Contacts:

Investors
Luis Sanay, CFA
240-268-2022
ir@novavax.com

Media
Giovanna Chandler
240-720-7804
media@novavax.com

 

Novavax logo (PRNewsfoto/NOVAVAX, INC)

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SOURCE Novavax, Inc.

FAQ

What inducement awards did Novavax (NVAX) grant to Dr. Draghia-Akli in November 2024?

Novavax granted Dr. Draghia-Akli a stock option to purchase 64,150 shares at $9.01 per share and 42,770 restricted stock units as inducement awards for joining as EVP and Head of R&D.

What is the vesting schedule for NVAX's inducement awards granted in November 2024?

The stock options vest 25% after one year with remaining shares vesting monthly over 36 months, while restricted stock units vest in three equal annual installments.

What was the exercise price for Novavax (NVAX) stock options granted on November 11, 2024?

The exercise price for the stock options was $9.01 per share, which was Novavax's closing price on the Nasdaq Global Select Market on the grant date.

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Biotechnology
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