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Stephens Investment Management, LLC
> NVAX
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 09/30/2009 | NOVAVAX INC | NVAX | 0 | -250,000 | 0 | -820,000 | |
| 06/30/2009 | NOVAVAX INC | NVAX | 250,000 | 205,373 | 820,000 | 709,000 | $3.28 |
| 06/30/2008 | NOVAVAX INC | NVAX | 44,627 | -230,872 | 111,000 | -622,000 | $2.49 |
| 03/31/2008 | NOVAVAX INC | NVAX | 275,499 | -54,501 | 733,000 | -366,000 | $2.66 |
| 12/31/2007 | NOVAVAX INC | NVAX | 330,000 | 0 | 1,099,000 | -86,000 | $3.33 |
| 09/30/2007 | NOVAVAX INC | NVAX | 330,000 | -270,000 | 1,185,000 | -555,000 | $3.59 |
| 06/30/2007 | NOVAVAX INC | NVAX | 600,000 | -119,307 | 1,740,000 | -123,000 | $2.90 |
| 03/31/2007 | NOVAVAX INC | NVAX | 719,307 | -80,693 | 1,863,000 | -1,417,000 | $2.59 |
| 12/31/2006 | NOVAVAX INC | NVAX | 800,000 | -26,600 | 3,280,000 | 147,000 | $4.10 |
| 09/30/2006 | NOVAVAX INC | NVAX | 826,600 | 131,600 | 3,133,000 | -370,000 | $3.79 |
| 06/30/2006 | NOVAVAX INC | NVAX | 695,000 | 425,068 | 3,503,000 | 1,349,000 | $5.04 |
| 03/31/2006 | NOVAVAX INC | NVAX | 269,932 | 269,932 | 2,154,000 | 2,154,000 | $7.98 |
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