Summary by Futu AI
On 12/11/2024, Mark J Casey, EVP and Chief Legal Officer of Novavax, executed a series of stock transactions. Casey exercised 41,900 shares of Common Stock at $0 per share through the conversion of derivative securities. This resulted in an initial beneficial ownership of 41,900 shares.Immediately following the acquisition, Casey disposed of 12,713 shares at a price of $8.82 per share, totaling $112,128.66. This transaction was coded as a payment of exercise price or tax liability by delivering or withholding securities. After these transactions, Casey's direct beneficial ownership of Novavax Common Stock stood at 29,187 shares.The transactions were reported as completed, with both the acquisition and disposal occurring on the same day. The exercise of options at $0 and subsequent sale at market price suggests a typical executive compensation event, possibly related to vesting of restricted stock units or the exercise of stock options.