Top executives at the COVID-19 vaccine developer Novavax (NASDAQ:NVAX) have sold approximately $46M worth of company stock since the start of 2020, Reuters reported following a review of the company’s regulatory filings.
As the Novavax shares rose nearly 3,000 times during the year, CEO, Stanley Erck has cashed out $8.7 million by selling company shares, nearly four times the value of shares he sold over the previous five years.
Issuing a statement, the company said: “Our leaders remain confident in the value and potential of our vaccines and are passionately committed to contributing to ending the COVID-19 pandemic and improving public health around the world.” “They continue to hold substantial personal and professional interest in Novavax’ success as well as a financial one.”
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