Shiver John W. 4

What Happened

• John W. Shiver, a director of Novavax, had 7,947 derivative units convert into 7,947 shares on March 10, 2026 (transaction code M). The filing reports an acquisition of 7,947 shares at $0.00 and a simultaneous disposition of 7,947 shares at $0.00. Total cash consideration reported is $0, indicating these were award conversions rather than an open-market purchase or a cash sale.

Key Details

• Transaction date: 2026-03-10; Form 4 filed 2026-03-12 (timely).
• Acquired: 7,947 shares via conversion/exercise (price $0.00). Disposed: 7,947 shares (price $0.00).
• Total reported value: $0 (per the Form 4 entries).
• Shares owned after the transaction: not specified in the provided excerpt.
• Footnote: The RSUs subject to this grant vest one-third on each of the first three anniversaries of March 10, 2025, subject to continued board service.
• Filing timeliness: filed within the standard Form 4 window (no late-filing flag reported).

Context

• The M code and $0 price here are consistent with conversion/vesting of equity awards (RSUs) rather than a market purchase. Filings that show identical acquired and disposed share counts at $0 often reflect shares issued on vesting with an equivalent number withheld or surrendered to cover taxes or other obligations. This is a routine director equity-vesting event and not a cash investment or open-market sale.