secwatch.observer — SEC 8-K summary
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Issuer:     NOVAVAX INC (NVAX)
CIK:        0001000694
Form:       8-K
Filed at:   2023-01-09T23:59:59+00:00
Accession:  0001104659-23-002102
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000694/000110465923002102/0001104659-23-002102-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000694/000110465923002102/tm232657d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-002102

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