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Report of transactions of shares and related securities of Bavarian Nordic by persons holding managerial responsibilities and/or persons/companies closely associated with such
COPENHAGEN, Denmark, May 13, 2026 – 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. The RSU’s were awarded as part of their remuneration for 2023, and in accordance with the decision by the Annual General Meeting on March 30, 2023. 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 | 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) |
| DKK 188.30 | 771 | ||
| d) | Aggregated information
| 771 DKK 133,881.30 | |
| e) | Date of the transaction | 2026-05-13 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Heidi Hunter | |
| 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) |
| DKK 188.30 | 771 | ||
| d) | Aggregated information
| 771 DKK 133,881.30 | |
| e) | Date of the transaction | 2026-05-13 | |
| f) | Place of the transaction | Outside a trading venue | |
| 1. | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Johan van Hoof | |
| 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) |
| DKK 188.30 | 771 | ||
| d) | Aggregated information
| 771 DKK 133,881.30 | |
| e) | Date of the transaction | 2026-05-13 | |
| 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) |
| DKK 188.30 | 771 | ||
| d) | Aggregated information
| 771 DKK 133,881.30 | |
| e) | Date of the transaction | 2026-05-13 | |
| 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) |
| DKK 188.30 | 771 | ||
| d) | Aggregated information
| 771 DKK 133,881.30 | |
| e) | Date of the transaction | 2026-05-13 | |
| 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: Disa Tuominen, IR Manager, detu@bavarian-nordic.com
US: Graham Morrell, Gilmartin Group, graham@gilmartinir.com, Tel: +1 781 686 9600
Contact media:
Nicole Seroff, Vice President Corporate Affairs, nise@bavarian-nordic.com, Tel: +45 53 88 06 03
Company Announcement no. 25 / 2026
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