Alton Gregg H 4

What Happened

• Alton Gregg, a director of Novavax, received equity awards on June 18, 2026 totaling 35,450 derivative units (21,270 and 14,180 units). Both awards were granted at $0.00 (non‑cash awards/derivatives) and are subject to vesting.
• On June 20, 2026 Gregg had a conversion/exercise of 18,880 derivative units into common shares and the filing shows those 18,880 shares were disposed the same day (both the acquisition and disposition are reported at $0.00 in the filing).

Key Details

• Transaction dates and prices:
  • 2026-06-18: Grant/award — 21,270 derivative units @ $0.00 (A) and 14,180 derivative units @ $0.00 (A).
  • 2026-06-20: Exercise/conversion — 18,880 shares acquired (M) and 18,880 shares disposed (M), both reported at $0.00.
• Vesting notes from filing:
  • Each RSU represents a contingent right to one share (F1).
  • The 6/18/26 option/RSU awards vest 100% on the first anniversary of the grant (subject to continued board service) (F2, F3) — i.e., expected to vest ~6/18/27.
  • The 18,880 units converted/ disposed on 6/20/26 had vested on the first anniversary of a 6/20/25 grant (F4).
• Shares owned after the transactions: not specified in the provided excerpt of the filing.
• Filing timeliness: Form filed 2026-06-23; no late‑filing flag is indicated in the provided data.

Context

• The 6/20/26 activity reflects conversion/exercise of vested derivative awards into common shares followed by immediate disposition the same day. Immediate disposal of vested shares is commonly done to satisfy tax withholding or to realize proceeds, but the filing itself does not state the reason.
• The 6/18/26 grants are new awards that appear subject to a one‑year vesting cliff; these should be monitored for future vesting on their first anniversary.