Newton Charles W. 4

What Happened

• Charles W. Newton, a director of Novavax (NVAX), had a derivative conversion (code M) on April 25, 2026 that shows acquisition of 9,520 shares at $0.00 and a simultaneous disposition of 9,520 shares at $0.00. The filing reports no cash paid or received.
• The filing’s footnotes identify these instruments as restricted stock units (RSUs) that convert to one share each when vested; the activity is therefore the conversion/settlement of RSUs rather than an open-market buy or sale.

Key Details

• Transaction date: 2026-04-25; Filing date: 2026-04-28.
• Reported amounts: 9,520 shares acquired at $0.00; 9,520 shares disposed at $0.00 (both reported under Form 4 code M).
• Shares owned after the transaction: not specified in the information provided in this summary.
• Footnotes: F1 — each RSU equals the right to one share; F2 — RSUs vest 1/3 on each of the first three anniversaries of April 25, 2025 (so this conversion aligns with scheduled vesting).
• Timeliness: filing reports the Apr 25 transaction on Apr 28 and is not marked as late.

Context

• Code M indicates exercise or conversion of a derivative; here that means RSUs converted into common shares upon vesting. The equal acquisition and disposition at $0.00 typically reflect issuance/settlement mechanics (e.g., conversion and transfer/settlement) rather than a cash purchase or open-market sale.
• This appears to be routine compensation/vesting activity for a director, not an opportunistic buy or sell in the market. Such transactions are common and should not be interpreted alone as a clear bullish or bearish signal.