X0306 4 2020-12-14 0 0001000694 NOVAVAX INC NVAX 0001342823 Glenn Gregory M C/O NOVAVAX, INC. 21 FIRSTFIELD ROAD GAITHERSBURG MD 20878 0 1 0 0 President, R&D Stock Option (Right to Buy) 129.70 2020-12-14 4 A 0 18700 0.00 A 2030-12-14 Common Stock 18700 18700 D Restricted Stock Units 2020-12-14 4 A 0 9300 0.00 A Common Stock 9300 9300 D Twenty-five percent (25%) of the shares subject to this option grant under the Novavax, Inc. (the "Company") Amended and Restated 2015 Stock Incentive Plan, as amended (the "Plan"), will vest on the first anniversary of the December 14, 2020 grant date (the "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. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Company's common stock. One-third (1/3) of the RSUs subject to this grant under the Company's Plan will vest on each of the first three (3) anniversaries of the Grant Date, subject to continued employment through each such vesting date. /s/ John A. Herrmann III, Attorney-in-Fact 2020-12-16