COPENHAGEN, Denmark, May 9, 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 concern the vesting of restricted stock units (RSUs) by members of the Board of Directors and the Executive Management of Bavarian Nordic A/S. For members of the Board of Directors, the RSU’s were awarded as part of their remuneration for 2022, and in accordance with the decision by the Annual General Meeting on April 5, 2022. The transaction reported for President & CEO, Paul Chaplin concerns the vesting of RSUs awarded in 2022 as part of a retention scheme established in 2021, and the transaction for Chief Operating Officer, Russell Thirsk concerns the vesting of RSUs awarded in 2022 as part of a sign-on bonus. The three-year vesting period for the RSUs has now expired, and all conditions for release of the shares have been met.
| 1. | Details of the person discharging managerial responsibilities/person closely associated  | ||
| a) | Name | Anne Louise Eberhard | |
| 2. | Reason for the notification | ||
| a) | Position/status
 |
Deputy chair of the Board 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) |
| Â | Â | DKK 152.58 | 983 |
| d) | Aggregated information
|
Â
983 |
|
| e) | Date of the transaction | 2025-05-09 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated  | ||
| a) | Name | Frank Verwiel | |
| 2. | Reason for the notification | ||
| a) | Position/status
 |
Member of the Board 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) |
| Â | Â | DKK 152.58 | 983 |
| d) | Aggregated information
|
Â
983 |
|
| e) | Date of the transaction | 2025-05-09 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated  | ||
| a) | Name | Anja Gjøl | |
| 2. | Reason for the notification | ||
| a) | Position/status
 |
Member of the Board 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) |
| Â | Â | DKK 152.58 | 983 |
| d) | Aggregated information
|
Â
983 |
|
| e) | Date of the transaction | 2025-05-09 | |
| 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 |
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) |
| Â | Â | DKK 155.81 | 25,663 |
| d) | Aggregated information
|
Â
25,663 |
|
| e) | Date of the transaction | 2025-05-09 | |
| 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 |
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) |
| Â | Â | DKK 110.21 | 6,669 |
| d) | Aggregated information
|
Â
6,669 |
|
| e) | Date of the transaction | 2025-05-09 | |
| 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, [email protected], Tel: +45 61 77 47 43
US: Graham Morrell, Paddock Circle Advisors, [email protected], Tel: +1 781 686 9600
Contact media:
Nicole Seroff, Vice President Corporate Communications, [email protected], Tel: +45 53 88 06 03
Company Announcement no. 17 / 2025
Attachment
- 2025-17-en
