# EDGAR Filing Document

**Accession Number:** 0001000694
**File Stem:** 0001398344-26-009210
**Filing Date:** 2026-5
**Character Count:** 12240
**Document Hash:** 81ec2183355db3627d1c44d63fb1e05b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-26-009210.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0001398344-26-009210

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NOVAVAX INC
- **CENTRAL INDEX KEY:** 0001000694
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 222816046
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-48948
- **FILM NUMBER:** 26982476

**BUSINESS ADDRESS:**
- **STREET 1:** 21 FIRSTFIELD RD
- **CITY:** GAITHERSBURG
- **STATE:** MD
- **BUSINESS PHONE:** 240-268-2000

**MAIL ADDRESS:**
- **STREET 1:** 21 FIRSTFIELD RD
- **CITY:** GAITHERSBURG
- **STATE:** MD
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SHAH CAPITAL MANAGEMENT
- **CENTRAL INDEX KEY:** 0001383838

**ORGANIZATION NAME:**
- **EIN:** 201804775
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 2301 SUGAR BUSH RD
- **STREET 2:** SUITE 510
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27612
- **BUSINESS PHONE:** 919 719 6360

**MAIL ADDRESS:**
- **STREET 1:** 2301 SUGAR BUSH RD
- **STREET 2:** SUITE 510
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27612

### Attached PDF Documents

**Attachment 1:** `fp0098927-1_ex991.pdf`

_No text found in this document._

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 7)**

**NOVAVAX, INC.**

*(Name of Issuer)*

**Common Stock, Par Value $0.01 per share**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**Himanshu H. Shah**<br>2301 Sugar Bush Road<br>Suite 510<br>Raleigh NC 27612<br>(919) 719-6360

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**05/14/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Shah Capital Management** | Name of reporting person<br>**Shah Capital Management** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**NORTH CAROLINA** | Citizenship or place of organization<br>**NORTH CAROLINA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**14714705.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**14714705.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**14714705.00** | Aggregate amount beneficially owned by each reporting person<br>**14714705.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**8.95%** | Percent of class represented by amount in Row (11)<br>**8.95%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Shah Capital Opportunity Fund LP** | Name of reporting person<br>**Shah Capital Opportunity Fund LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**14000000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**14000000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**14000000.00** | Aggregate amount beneficially owned by each reporting person<br>**14000000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**8.51%** | Percent of class represented by amount in Row (11)<br>**8.51%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Himanshu H. Shah** | Name of reporting person<br>**Himanshu H. Shah** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**126295.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**14714705.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**126295.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**14714705.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**14841000.00** | Aggregate amount beneficially owned by each reporting person<br>**14841000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.03%** | Percent of class represented by amount in Row (11)<br>**9.03%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, Par Value $0.01 per share

**(b) Name of Issuer:**
NOVAVAX, INC.

**(c) Address of Issuer's Principal Executive Offices:**
700 QUINCE ORCHARD ROAD, GAITHERSBURG, MD, 20878

The following constitutes Amendment No. 7 to the Schedule 13D filed by the undersigned (the "Amendment No. 7"). This Amendment No. 7 amends the Schedule 13D as specifically set forth herein.

**Item 4. Purpose of Transaction**

Item 4 is hereby amended to add the following:

On May 14, 2026, the Reporting Persons sent a presentation (the "Elevating Novavax Presentation") to the board of directors of the Issuer (the "Board") outlining what they believe to be the failures of the current leadership, specifically noting the following: (i) marketing failure since 2023; (ii) underwhelming Sanofi partnership; (iii) capital market mismanagement; and (iv) leadership enriching itself instead of building value.  The foregoing description of the Elevating Novavax Presentation does not purport to be complete and is qualified in its entirety to the Elevating Novavax Presentation, which is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Items 5(a)-(c) are hereby amended and restated to read as follows:

The aggregate percentage of the shares of Common Stock reported owned by each person named herein is based upon 164.4M shares outstanding as of April 30, 2026.

(i) - Shah Capital
14,714,705; 8.95%

(ii) - Shah Opportunity
14,000,000; 8.51%

(iii) - Himanshu H. Shah
14,841,000; 9.03%

**(b)**
(i) - Shah Capital
Sole Voting Power - 0
Shared Voting Power - 14,714,705
Sole Dispositive Power - 0
Shared Dispositive Power - 14,714,705

(ii) - Shah Opportunity
Sole Voting Power - 0
Shared Voting Power - 14,000,000
Sole Dispositive Power - 0
Shared Dispositive Power - 14,000,000

(iii) - Himanshu H. Shah
Sole Voting Power - 126,295
Shared Voting Power - 14,714,705
Sole Dispositive Power - 126,295
Shared Dispositive Power - 14,714,705

As of the date hereof, Shah Opportunity directly beneficially owns 14,000,000 shares of Common Stock. As the investment manager of Shah Opportunity and the Shah Managed Accounts, Shah Capital Management may be deemed to beneficially own 14,714,705 shares of Common Stock beneficially owned in the aggregate by Shah Opportunity and held in the Shah Managed Accounts. As of the date hereof, Mr. Shah directly beneficially owns 126,295 shares of Common Stock, which are held in the Mr. Shah Managed Account. As the President and Chief Investment Officer of Shah Capital Management, Mr. Shah may be deemed to beneficially own the 14,714,705 shares of Common Stock beneficially owned in the aggregate by Shah Opportunity and held in the Shah Managed Accounts, which in addition to the 126,295 shares of Common Stock he beneficially owns directly, constitutes an aggregate of 14,841,000 shares of Common Stock that Mr. Shah may be deemed to beneficially own.

**(c)**
There were no transactions in securities since the filing of Amendment No. 6 to the Schedule 13D.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Shah Capital Management

**Signature:** /s/ Himanshu H. Shah

**Name/Title:** Himanshu H. Shah, President and Chief Investment Officer

**Date:** 05/15/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Shah Capital Opportunity Fund LP

**Signature:** /s/ Himanshu H. Shah

**Name/Title:** Himanshu H. Shah, Managing Member

**Date:** 05/15/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Himanshu H. Shah

**Signature:** /s/ Himanshu H. Shah

**Name/Title:** Himanshu H. Shah

**Date:** 05/15/2026