X0306 4 2021-04-05 0 0001000694 NOVAVAX INC NVAX 0001468534 Trizzino John C/O NOVAVAX, INC. 21 FIRSTFIELD ROAD GAITHERSBURG MD 20878 0 1 0 0 EVP, Chief Commercial Officer Common Stock 2021-04-05 4 M 0 417 27.60 A 704 D Common Stock 2021-04-05 4 M 0 521 46.00 A 1225 D Common Stock 2021-04-05 4 M 0 2083 5.95 A 3308 D Common Stock 2021-04-05 4 S 0 3021 190.10 D 287 D Common Stock 2021-04-05 4 M 0 383 177.29 A 670 D Common Stock 2021-04-05 4 D 0 13 177.29 D 657 D Common Stock 2021-04-05 4 F 0 179 177.29 D 478 D Common Stock 2021-04-07 4 S 0 191 178.03 D 287 D Stock Option (Right to Buy) 27.60 2021-04-05 4 M 0 417 0.00 D 2027-12-15 Common Stock 417 3758 D Stock Option (Right to Buy) 46.00 2021-04-05 4 M 0 521 0.00 D 2028-12-13 Common Stock 521 10944 D Stock Option (Right to Buy) 5.95 2021-04-05 4 M 0 2083 0.00 D 2029-09-26 Common Stock 2083 62501 D Stock Appreciation Right 5.95 2021-04-05 4 M 0 383 0.00 D 2029-09-26 Common Stock 383 11501 D The transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person. The reporting person received 191 shares of common stock upon the net exercise of 383 stock appreciation rights. The reporting person forfeited 13 shares of common stock underlying the stock appreciation rights representing the base value and 179 shares of common stock underlying the stock appreciation rights to satisfy the withholding tax obligations resulting from the exercise, using the closing stock price on April 5, 2021 of $177.29. Twenty-five percent (25%) of the shares subject to this option grant under the Novavax, Inc. Amended and Restated 2015 Stock Incentive Plan, as amended (the "Plan") vested on the first anniversary of the December 15, 2017 grant date, and the remaining seventy-five percent (75%) of the shares vested or will vest in equal monthly installments over the following three (3) years subject to continued employment through such vesting date. Twenty-five percent (25%) of the shares subject to this option grant under the Plan vested on the first anniversary of the December 13, 2018 grant date, and the remaining seventy-five percent (75%) of the shares vested or will vest in equal monthly installments over the following three (3) years subject to continued employment through such vesting date. Twenty-five percent (25%) of the shares subject to this option grant under the Plan vested on the first anniversary of the September 26, 2019 grant date, and the remaining seventy-five percent (75%) of the shares vested or will vest in equal monthly installments over the following three (3) years subject to continued employment through such vesting date. Twenty-five percent (25%) of the shares subject to this stock appreciation right grant under the Plan vested on the first anniversary of the September 26, 2019 grant date, and the remaining seventy-five percent (75%) of the shares vested or will vest in equal monthly installments over the following three (3) years subject to continued employment through such vesting date. /s/ John A. Herrmann III, Attorney-in-Fact 2021-04-07