COPENHAGEN, Denmark, March 5, 2025 – Bavarian Nordic A/S (OMX: BAVA) has today received information about the following transactions of the Company’s shares/related securities by persons holding managerial responsibilities and/or persons/companies closely associated with such, which are hereby reported in accordance with Article 19 of Regulation No. 596/2014 on Market Abuse and Implementing Regulation 2016/523.
The transactions relate to the award and vesting of restricted stock units (RSUs) under the short-term incentive scheme for the Company’s Executive Management. The scheme is cash-based; however, in accordance with the Company’s remuneration policy, the Board of Directors may decide to defer the bonus, in full or in part, by conversion of the cash bonus into RSUs including matching shares, which have a vesting period of a minimum of three years after grant. The reported award transactions relate to the Executive Management’s performance in 2024, for which 50% of the cash bonus has been converted into RSUs, in addition to matching shares. The reported vesting transactions related to RSUs and matching shares awarded in 2022, using the principle as outlined above.
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Paul Chaplin | |
| 2. | Reason for the notification | ||
| a) | Position/status
| President and Chief Executive Officer of Bavarian Nordic A/S | |
| b) | Initial notification/Amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Bavarian Nordic A/S | |
| b) | LEI | 2138006JCDVYIN6INP51 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Shares DK0015998017 | |
| b) | Nature of the transaction | Acquisition of shares (vesting of restricted stock units) | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| DKK 108.71 | 12,543 | ||
| d) | Aggregated information
|
12,543 | |
| e) | Date of the transaction | 2025-03-05 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Paul Chaplin | |
| 2. | Reason for the notification | ||
| a) | Position/status
| President and Chief Executive Officer of Bavarian Nordic A/S | |
| b) | Initial notification/Amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Bavarian Nordic A/S | |
| b) | LEI | 2138006JCDVYIN6INP51 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Restricted Stock Units DK0015998017 | |
| b) | Nature of the transaction | Grant | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| DKK 114.43 | 36,634 | ||
| d) | Aggregated information
|
36,634 | |
| e) | Date of the transaction | 2025-03-05 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Henrik Juuel | |
| 2. | Reason for the notification | ||
| a) | Position/status
| Executive Vice President and Chief Financial Officer of Bavarian Nordic A/S | |
| b) | Initial notification/Amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Bavarian Nordic A/S | |
| b) | LEI | 2138006JCDVYIN6INP51 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Shares DK0015998017 | |
| b) | Nature of the transaction | Acquisition of shares (vesting of restricted stock units) | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| DKK 108.71 | 6,480 | ||
| d) | Aggregated information
|
6,480 | |
| e) | Date of the transaction | 2025-03-05 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Henrik Juuel | |
| 2. | Reason for the notification | ||
| a) | Position/status
| Executive Vice President and Chief Financial Officer of Bavarian Nordic A/S | |
| b) | Initial notification/Amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Bavarian Nordic A/S | |
| b) | LEI | 2138006JCDVYIN6INP51 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Restricted Stock Units DK0015998017 | |
| b) | Nature of the transaction | Grant | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| DKK 114.43 | 21,922 | ||
| d) | Aggregated information
|
21,922 | |
| e) | Date of the transaction | 2025-03-05 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Jean-Christophe May | |
| 2. | Reason for the notification | ||
| a) | Position/status
| Executive Vice President and Chief Commercial Officer of Bavarian Nordic A/S | |
| b) | Initial notification/Amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Bavarian Nordic A/S | |
| b) | LEI | 2138006JCDVYIN6INP51 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Shares DK0015998017 | |
| b) | Nature of the transaction | Acquisition of shares (vesting of restricted stock units) | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| DKK 108.73 | 4,726 | ||
| d) | Aggregated information
|
4,726 | |
| e) | Date of the transaction | 2025-03-05 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Jean-Christophe May | |
| 2. | Reason for the notification | ||
| a) | Position/status
| Executive Vice President and Chief Commercial Officer of Bavarian Nordic A/S | |
| b) | Initial notification/Amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Bavarian Nordic A/S | |
| b) | LEI | 2138006JCDVYIN6INP51 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Restricted Stock Units DK0015998017 | |
| b) | Nature of the transaction | Grant | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| DKK 114.43 | 15,259 | ||
| d) | Aggregated information
|
15,259 | |
| e) | Date of the transaction | 2025-03-05 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Russell Thirsk | |
| 2. | Reason for the notification | ||
| a) | Position/status
| Executive Vice President and Chief Operating Officer of Bavarian Nordic A/S | |
| b) | Initial notification/Amendment | Initial notification | |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Bavarian Nordic A/S | |
| b) | LEI | 2138006JCDVYIN6INP51 | |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code | Restricted Stock Units DK0015998017 | |
| b) | Nature of the transaction | Grant | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| DKK 114.43 | 15.826 | ||
| d) | Aggregated information
|
15.826 | |
| e) | Date of the transaction | 2025-03-05 | |
| f) | Place of the transaction | Outside a trading venue | |
About Bavarian Nordic
Bavarian Nordic is a global vaccine company with a mission to improve health and save lives through innovative vaccines. We are a preferred supplier of mpox and smallpox vaccines to governments to enhance public health preparedness and have a leading portfolio of travel vaccines. For more information, visit www.bavarian-nordic.com.
Contact investors:
Europe: Rolf Sass Sørensen, Vice President Investor Relations, rss@bavarian-nordic.com, Tel: +45 61 77 47 43
US: Graham Morrell, Paddock Circle Advisors, graham@paddockcircle.com, Tel: +1 781 686 9600
Contact media:
Nicole Seroff, Vice President Corporate Communications, nise@bavarian-nordic.com, Tel: + 45 53 88 06 03
Company Announcement no. 10 / 2025
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