X0306 4 2020-09-28 0 0001000694 NOVAVAX INC NVAX 0001610928 Herrmann John A III C/O NOVAVAX, INC. 21 FIRSTFIELD ROAD GAITHERSBURG MD 20878 0 1 0 0 EVP, Chief Legal Officer Common Stock 2020-09-28 4 M 0 24750 5.95 A 43054 D Common Stock 2020-09-28 4 S 0 272.93 107.2207 D 42781 D Common Stock 2020-09-28 4 S 0 3701.71 108.1972 D 39079 D Common Stock 2020-09-28 4 S 0 6594.79 109.0681 D 32485 D Common Stock 2020-09-28 4 S 0 8051.5 109.9789 D 24433 D Common Stock 2020-09-28 4 S 0 2319.68 110.9738 D 22113 D Common Stock 2020-09-28 4 S 0 213.38 111.9236 D 21900 D Common Stock 2020-09-28 4 S 0 719.55 113.024 D 21180 D Common Stock 2020-09-28 4 S 0 396.99 113.8133 D 20783 D Common Stock 2020-09-28 4 S 0 992.48 115.2316 D 19791 D Common Stock 2020-09-28 4 S 0 941.12 116.077 D 18850 D Common Stock 2020-09-28 4 S 0 545.86 117.0656 D 18304 D Common Stock 2020-09-29 4 S 0 5975 106.1819 D 1239 D Common Stock 2020-09-29 4 S 0 7061 107.2997 D 5268 D Common Stock 2020-09-29 4 S 0 3419 108.3903 D 1849 D Common Stock 2020-09-29 4 S 0 1574 109.2763 D 275 D Stock Option (Right to Buy) 5.95 2020-09-28 4 M 0 24750 0.00 D 2029-09-26 Common Stock 24750 74250 D The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $106.61 to $107.60, inclusive. The reporting person undertakes to provide to Novavax, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $107.61 to $108.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $108.61 to $109.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $109.61 to $110.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $110.61 to $111.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $111.61 to $112.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.61 to $113.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.61 to $114.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.61 to $115.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $115.61 to $116.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $116.61 to $117.60, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $105.73 to $106.72, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $106.82 to $107.80, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $107.87 to $108.83, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $108.89 to $109.45, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each price within the range set forth in this footnote. Twenty-five percent (25%) of the shares subject to this option grant vested on the first anniversary of the September 26, 2019 grant date, and the remaining seventy-five percent (75%) of the shares will vest in equal monthly installments over the following three (3) years, in each case subject to continued employment through such vesting date. John A. Herrmann III 2020-09-30