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Novavax | 8-K: R&D President Filip Dubovsky Resigns

SEC announcement ·  May 24 04:12
Summary by Futu AI
On May 20, 2024, Novavax, Inc. announced the retirement of Filip Dubovsky as President of Research and Development, effective June 30, 2024. Dubovsky will continue to provide consulting services to Novavax for 12 months post-retirement under a consulting agreement. The agreement stipulates a monthly consulting fee of $15,000 and payment of COBRA premiums for up to 11 months. Dubovsky's equity awards will vest during the consulting period, and any unexercised stock options will remain exercisable for 90 days after the consulting period ends. The agreement allows for termination by either party with 30 days' notice. The terms of Dubovsky's non-competition and non-solicitation covenants will begin post-retirement. Details of the consulting agreement will be included in Novavax's Quarterly Report on Form 10-Q for the quarter ending June 30, 2024.
On May 20, 2024, Novavax, Inc. announced the retirement of Filip Dubovsky as President of Research and Development, effective June 30, 2024. Dubovsky will continue to provide consulting services to Novavax for 12 months post-retirement under a consulting agreement. The agreement stipulates a monthly consulting fee of $15,000 and payment of COBRA premiums for up to 11 months. Dubovsky's equity awards will vest during the consulting period, and any unexercised stock options will remain exercisable for 90 days after the consulting period ends. The agreement allows for termination by either party with 30 days' notice. The terms of Dubovsky's non-competition and non-solicitation covenants will begin post-retirement. Details of the consulting agreement will be included in Novavax's Quarterly Report on Form 10-Q for the quarter ending June 30, 2024.
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