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NOVAVAX INC·4

Jun 23, 7:51 PM ET

MOTT DAVID M 4

Research Summary

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Updated

Novavax (NVAX) Director David M. Mott Receives RSUs, Exercises Options

What Happened

  • David M. Mott, a director of Novavax, reported awards and a conversion/exercise. On June 18, 2026 he was granted two awards totaling 35,450 restricted stock units (21,270 and 14,180 RSUs) at $0.00. On June 20, 2026, 18,880 derivative units were exercised/converted to stock and an equal number (18,880) were immediately reported as disposed with $0 cash proceeds.
  • These are grant/vesting events (not open-market purchases). The grants are reported at $0 because they are RSUs/options; the June 20 conversion shows no cash proceeds in the filing.

Key Details

  • Dates and reported amounts:
    • 2026-06-18: Grant/award — 21,270 RSUs @ $0.00 (acquired)
    • 2026-06-18: Grant/award — 14,180 RSUs @ $0.00 (acquired)
    • 2026-06-20: Exercise/conversion — 18,880 shares (acquired) and 18,880 shares (disposed) reported with $0.00 proceeds
  • Shares owned after the reported transactions: Not disclosed in the provided filing.
  • Relevant footnotes from the filing:
    • F1: Each RSU represents a contingent right to receive one share of Novavax common stock.
    • F2: An option grant vests 100% on the first anniversary of the June 18, 2026 grant (subject to continued board service).
    • F3: RSUs from the June 18, 2026 grant vest 100% on the first anniversary (subject to continued board service).
    • F4: The RSUs that vested/converted on June 20, 2026 vested on the first anniversary of the June 20, 2025 grant (subject to continued board service).
  • Filing timeliness: Form 4 was filed on June 23, 2026. For the June 18 grants this appears to be one business day after the typical two-business-day Form 4 deadline (i.e., potentially late); the filing also reports June 20 vesting/conversion activity.

Context

  • For retail investors: RSU grants are compensation/retention events, not purchases that indicate a director buying shares in the open market. The June 20 conversion turned vested RSUs into shares; the immediate reported disposition of those 18,880 shares (with $0 proceeds) commonly reflects share withholding or surrender to satisfy tax or withholding obligations, though the filing does not specify the exact reason.
  • No cash values or open-market sales/purchases were reported for these items in the filing.