GAITHERSBURG, Md., Sept. 8,
2023 /PRNewswire/ -- Novavax, Inc. (Nasdaq: NVAX), a
global company advancing protein-based vaccines with its novel
Matrix-M™ adjuvant, today announced that Novavax
granted non-qualified stock options and restricted stock units to
Ian Watkins, Executive Vice
President and Chief Human Resources Officer, as a material
inducement for their entry into employment with Novavax. These
awards were approved by the Compensation Committee of the Board of
Directors 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 options are an option to purchase, in
the aggregate, 64,200 shares of Novavax's common stock with a per
share exercise price of $9.05, the
closing price of Novavax's common stock on the Nasdaq Global Select
Market on the grant date. The non-qualified stock options have 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 the employee's
continued employment with Novavax through the applicable vesting
date. The restricted stock units are with respect to, in the
aggregate, 55,600 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 the employee's continued employment with Novavax through
the applicable vesting date. The non-qualified stock options 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 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. Focused on the
world's most urgent health challenges, Novavax is currently
evaluating vaccines for COVID, influenza and COVID and influenza
combined. Please visit novavax.com and LinkedIn for more
information.
Contacts:
Investors
Erika Schultz
240-268-2022
ir@novavax.com
Media
Ali Chartan
240-720-7804
media@novavax.com
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SOURCE Novavax, Inc.