Novavax appoints John C. Jacobs as CEO; Stanley Erck retires effective Jan 23, 2023

NOVAVAX INC

John C. Jacobs appointed President and CEO, effective January 23, 2023, succeeding retiring CEO Stanley C. Erck.
Jacobs receives $700k base salary, 75% target bonus, and inducement grants (options + RSUs) worth ~$6M combined.
Erck to provide advisory services through April 2024 at $50k/month for 6 months, then $25k/month, with equity treatment.
Board adopted 2023 Inducement Plan reserving 1 million shares for new-hire equity grants under Nasdaq Rule 5635(c)(4).

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Stanley C. Erck

President and Chief Executive Officer

NVAX · NOVAVAX INC

Effective: 2023-01-23
Successor: John C. Jacobs
Filed: January 9, 2023, 6:59 PM ET

Mr. Jacobs will succeed Stanley C. Erck, who provided the Board with notice on January 5, 2023 of his decision to retire as President and Chief Executive Officer and as a member of the Board, in each case effective as of January 23, 2023.

Appointed

John C. Jacobs

President and Chief Executive Officer

NVAX · NOVAVAX INC

Effective: 2023-01-23
Filed: January 9, 2023, 6:59 PM ET

the Board of Directors (the “Board”) of Novavax, Inc. (the “Company”) approved the appointment of John C. Jacobs, age 56, as President and Chief Executive Officer and a member of the Board, effective as of January 23, 2023.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Stanley C. Erck retired as President and Chief Executive Officer at NOVAVAX INC.

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

Mr. Jacobs will succeed Stanley C. Erck, who provided the Board with notice on January 5, 2023 of his decision to retire as President and Chief Executive Officer and as a member of the Board, in each case effective as of January 23, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John C. Jacobs was appointed as President and Chief Executive Officer at NOVAVAX INC.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

the Board of Directors (the “Board”) of Novavax, Inc. (the “Company”) approved the appointment of John C. Jacobs, age 56, as President and Chief Executive Officer and a member of the Board, effective as of January 23, 2023.

View on SEC.gov

NOVAVAX INC filing history →

Source: SEC EDGAR

accession 0001104659-23-002102

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