Evaxion A/S (NASDAQ: EVAX) insider reports Form 3 share and warrant holdings

Rhea-AI Filing Summary

Evaxion A/S filed a Form 3 reporting initial holdings of its securities. The reporting person holds 645,750 Ordinary Shares directly. It also reports warrants that are exercisable into 322,850 Ordinary Shares at an exercise price of $0.0590 per share, expiring on January 31, 2030. A footnote explains these warrants were issued in connection with a public offering that closed on January 31, 2025.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Evaxion A/S

Role Chief Financial Officer

Type	Security	Shares	Price	Value
holding	Warrants	--	--	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Warrants — 322,850 shares (Direct); Ordinary Shares — 645,750 shares (Direct)

Footnotes (1)

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
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hours per response:			0.5

1. Name and Address of Reporting Person^*

Evaxion A/S

(Last) (First) (Middle)

DR. NEERGAARDS VEJ 5F

(Street)

HORSHOLM DK-2970

(City) (State) (Zip)

DENMARK

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Evaxion A/S [ EVAX ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	645,750	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Warrants(1)	01/31/2025	01/31/2030	Ordinary Shares	322,850	$0.059	D

Explanation of Responses:

1. Warrants pursuant to public offering that closed 1/31/2025.

Remarks:

Exhibit List - Exhibit 24.1 Power of Attorney. This initial holding statement has been made for Thomas Frederik Schmidt using the Issuer's CIK codes to satisfy Form 3 filing requirements. An amendment will be filed for Mr. Schmidt upon receipt of his CIK filer codes from the SEC.

	/s/ Michael Baird, Attorney-in-Fact	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does the Evaxion A/S (EVAX) Form 3 filing disclose?

The Form 3 discloses initial holdings of Evaxion A/S securities by the reporting person, including Ordinary Shares and warrants. It establishes the baseline ownership position, detailing both common equity and derivative exposure through warrants tied to future Ordinary Share issuance.

How many Evaxion A/S Ordinary Shares are reported on this Form 3?

The filing reports direct ownership of 645,750 Evaxion A/S Ordinary Shares. This figure represents the reporting person’s common equity position as of the Form 3 date and serves as the starting point for tracking future changes in beneficial ownership in later insider filings.

What warrant position related to Evaxion A/S Ordinary Shares is disclosed?

The Form 3 reports warrants exercisable for 322,850 Evaxion A/S Ordinary Shares. These warrants provide the right to acquire additional Ordinary Shares at a fixed exercise price, adding a significant derivative component to the reporting person’s overall economic exposure to Evaxion A/S equity.

What is the exercise price and expiry for the Evaxion A/S warrants?

The warrants are exercisable at an exercise price of $0.0590 per underlying Ordinary Share and expire on January 31, 2030. This long-dated structure gives the holder several years of optionality to convert warrants into equity at the stated price.

How were the reported Evaxion A/S warrants originally issued?

A footnote states the warrants were issued pursuant to a public offering that closed on January 31, 2025. This indicates the derivative position originated from a capital markets transaction, rather than employee compensation, and ties the warrants directly to that earlier financing event.