GAITHERSBURG, Md., Nov. 15,
2024 /PRNewswire/ -- Novavax, Inc. (Nasdaq:
NVAX), a global company advancing protein-based vaccines with its
novel Matrix-M™ adjuvant, today announced that the
Company granted a non- qualified stock option and restricted stock
units to Ruxandra Draghia-Akli, MD, PhD, its newly appointed
Executive Vice President and Head of Research & Development, as
a material inducement for her entry into employment with Novavax,
effective as of November 11, 2024
(the "grant date"). These awards were approved by the Compensation
Committee 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 option is an option to purchase 64,150
shares of Novavax's common stock with a per share exercise price of
$9.01, the closing price of Novavax's
common stock on the Nasdaq Global Select Market on the grant date.
The non- qualified stock option has 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 Dr. Draghia-Akli's continued employment with Novavax
through the applicable vesting date. The restricted stock units are
with respect to 42,770 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 Dr. Draghia-Akli 's continued employment with Novavax
through the applicable vesting date. The non-qualified stock option
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 help 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. The Company's
portfolio includes its COVID-19 vaccine and its pipeline includes
its COVID-19-Influenza Combination and stand-alone influenza
vaccine candidates. In addition, Novavax's adjuvant is included in
the University of Oxford and Serum
Institute of India's R21/Matrix-M
malaria vaccine. Please visit novavax.com and
LinkedIn for more information.
Contacts:
Investors
Luis Sanay, CFA
240-268-2022
ir@novavax.com
Media
Giovanna Chandler
240-720-7804
media@novavax.com
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SOURCE Novavax, Inc.