RALEIGH, N.C., June 24, 2026 (GLOBE NEWSWIRE) -- Shah Capital, the largest shareholder of Novavax, today commented on yesterday’s announced voting results from Novavax’s June 18th 2026 Annual Meeting of Stockholders.
While the resolutions were ultimately passed, Shah Capital believes the results demonstrate an EXCEPTIONAL level of Shareholder Dissatisfaction with Novavax’s performance and its leadership. Even with external proxy advisors “For Recommendation,” nearly half of votes cast opposed the Company’s executive compensation package, an extraordinary rebuke of a compensation structure that shareholders clearly do not believe is aligned with performance or value creation. Significant opposition was also registered against the re-election of three Board nominees, with approximately 38% to 41% of votes cast against each of the Class I directors standing for re-election – an unprecedented opposition!
Commenting on the AGM results Shah Capital Founder and CIO, Himanshu Shah, has stated: “Today’s vote is truly a WAKE-UP call for Novavax’s leadership. Shareholders are clearly infuriated by a leadership team that has overseen chronic operational shortcomings, weak execution, excessive administrative/consulting costs and the destruction of shareholder value. There is no justification for a top-heavy management structure and an oversized Board at a company that should be focused on consistent profitability and restoring credibility with investors. Novavax has superior vaccine science and extraordinarily valuable pipeline assets, but its leadership must act with urgency to deliver real change.”
Shah Capital believes today’s vote is fully consistent with its repeated warnings and calls for change at Novavax including reduced board size with enhanced accountability, a more pragmatic business strategy including lower cost base and buying back its extremely undervalued shares immediately.
Shah Capital:
Shah Capital is a global investment firm founded in 2005 and headquartered in Raleigh, North Carolina. Led by Founder and Chief Investment Officer, Himanshu Shah, the firm employs a focused investment philosophy and a disciplined approach to investing in public companies with opportunities for growth, turnaround and transformation. Shah Capital seeks to support companies with strong underlying assets and fundamentals where operational, strategic or governance improvements can help unlock long term shareholder value.
Media Contacts:
Citigate Dewe Rogerson | shahcapital@citigatedewerogerson.com
