Novavax (NVAX)...earnings Wednesday
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Why would Lambert accept a compensation package with options based on a low-priced stock's performance? The package is definitely structured for long-term performance. The stock has to get to $5+ for him to even get close to being in the money, would Lambert agree to this without knowing good stuff in the pipeline, and they didn't have to make them so much out of the money with the stock down here at $3+; something is brewing here NVAX management is telegraphing it without filing it!
Again, he took stock options and incentives that need the stock to get to $5-$10 before he makes money. Check the options:
1. Represents a grant of 100,000 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of Novavax common stock.
2. The restricted stock units vest in five separate tranches of 20,000 units: (i) two tranches vest upon Novavax's achievement of certain performance criteria; (ii) one tranche vests upon Novavax's common stock achieving a market price of $6.00 per share; (iii) one tranche vests upon Novavax's common stock achieving a market price of $10.00 per share; and (iv) one tranche vests on March 7, 2010. The entire award of restricted stock units to Mr. Lambert is contingent upon stockholder approval of an amendment (the "Amendment") to Novavax's 2005 Stock Incentive Plan (the "Plan") to increase the number of shares available for issuance under the Plan. The Amendment was approved by Novavax's Board on March 7, 2007 and will be submitted to Novavax's stockholders for approval at Novavax's 2007 stockholders' meeting, which is scheduled for June 2007.
3. The options vest in five separate tranches of 50,000 options: (i) two tranches vest upon Novavax's achievement of certain performance criteria; (ii) one tranche vests upon Novavax's common stock achieving a market price of $6.00 per share; (iii) one tranche vests upon Novavax's common stock achieving a market price of $10.00 per share; and (iv) one tranche vests on March 7, 2010.
Again, he took stock options and incentives that need the stock to get to $5-$10 before he makes money. Check the options:
1. Represents a grant of 100,000 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of Novavax common stock.
2. The restricted stock units vest in five separate tranches of 20,000 units: (i) two tranches vest upon Novavax's achievement of certain performance criteria; (ii) one tranche vests upon Novavax's common stock achieving a market price of $6.00 per share; (iii) one tranche vests upon Novavax's common stock achieving a market price of $10.00 per share; and (iv) one tranche vests on March 7, 2010. The entire award of restricted stock units to Mr. Lambert is contingent upon stockholder approval of an amendment (the "Amendment") to Novavax's 2005 Stock Incentive Plan (the "Plan") to increase the number of shares available for issuance under the Plan. The Amendment was approved by Novavax's Board on March 7, 2007 and will be submitted to Novavax's stockholders for approval at Novavax's 2007 stockholders' meeting, which is scheduled for June 2007.
3. The options vest in five separate tranches of 50,000 options: (i) two tranches vest upon Novavax's achievement of certain performance criteria; (ii) one tranche vests upon Novavax's common stock achieving a market price of $6.00 per share; (iii) one tranche vests upon Novavax's common stock achieving a market price of $10.00 per share; and (iv) one tranche vests on March 7, 2010.
I should have posted this too:
Novavax elects vaccine expert as chairman
Thursday March 8, 4:44 pm ET
Stock in Novavax climbed more than 12 percent in trading Thursday after the vaccine developer said its new executive chairman is John Lambert, a vaccine expert who lives in Britain.
Lambert, the former president of Chiron Vaccines, replaces Gary Evans, who becomes the lead director, effective immediately.
In January, Novavax moved its headquarters from Malvern, Pa., to Rockville in a return to Maryland. The company had been based in Columbia before announcing its move to the Philadelphia area in 2004.
Lambert, 54, served as president of Chiron's vaccine operations from 2001 to 2005 and is a past president of the European Vaccine Manufacturers Association and director of the Global Alliance for Vaccines and Immunization.
Chiron and its affiliated subsidiaries have more than 30 vaccines on the market worldwide.
Novavax (NASDAQ: NVAX - News), though a much smaller company than Chiron, is in a similar space: The Maryland company is developing vaccines to protect against the flu and other viral diseases.
"Having John Lambert on [our] board gives our company another unique competitive advantage," says Novavax President and CEO Rahul Singhvi in a statement.
Evans, 49, has served as Novavax's chairman since April 2005. He is currently CEO of two alternative energy companies, Dallas-based GreenHunter Energy and Pratt, Kan.-based Orion Ethanol.
Stock in Novavax closed Thursday up 35 cents per share, or 12.64 percent, to $3.12.
Novavax elects vaccine expert as chairman
Thursday March 8, 4:44 pm ET
Stock in Novavax climbed more than 12 percent in trading Thursday after the vaccine developer said its new executive chairman is John Lambert, a vaccine expert who lives in Britain.
Lambert, the former president of Chiron Vaccines, replaces Gary Evans, who becomes the lead director, effective immediately.
In January, Novavax moved its headquarters from Malvern, Pa., to Rockville in a return to Maryland. The company had been based in Columbia before announcing its move to the Philadelphia area in 2004.
Lambert, 54, served as president of Chiron's vaccine operations from 2001 to 2005 and is a past president of the European Vaccine Manufacturers Association and director of the Global Alliance for Vaccines and Immunization.
Chiron and its affiliated subsidiaries have more than 30 vaccines on the market worldwide.
Novavax (NASDAQ: NVAX - News), though a much smaller company than Chiron, is in a similar space: The Maryland company is developing vaccines to protect against the flu and other viral diseases.
"Having John Lambert on [our] board gives our company another unique competitive advantage," says Novavax President and CEO Rahul Singhvi in a statement.
Evans, 49, has served as Novavax's chairman since April 2005. He is currently CEO of two alternative energy companies, Dallas-based GreenHunter Energy and Pratt, Kan.-based Orion Ethanol.
Stock in Novavax closed Thursday up 35 cents per share, or 12.64 percent, to $3.12.
How has this stock been good to you? It hit its 52 week low on Wednesday and has since bounced back 0.40. Did you time your trade perfectly at the low? If so, you have the timing of a Rolex.
Hello my friend....
I have been in and out of this stock for about 1.5yrs now. I look to make a few dollars here and there....not looking for home runs every time at bat. Not sure about you, but I find it inmpossible to time the top or bottom so with this in mind......I snatch a few dollars and then I am on to the next pick.
Unfortunately I missed the little pop last week. I did watch it pull back for 8 days and was waiting on the sideline to see if and when I should get back in.
and with the earnings coming this week, the stock has my attention for the next few days.
Hope this explain things.
Understood. I was confused by the original post. 