T. Rowe Price reports 8.6% Vaxcyte (PCVX) stake in amended 13G

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. filed an amended Schedule 13G reporting a significant ownership stake in Vaxcyte Inc. common stock. As of 12/31/2025, it reported beneficial ownership of 11,296,333 shares, representing 8.6% of Vaxcyte’s outstanding common stock.

The firm reported sole voting power over 11,064,015 shares and sole dispositive power over 11,296,333 shares, with no shared voting or dispositive power. It states the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Vaxcyte, and it expressly denies beneficial ownership in a legal-admission sense.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

VAXCYTE INC

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

92243G108

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 92243G108

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 11,064,015.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 11,296,333.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,296,333.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: VAXCYTE INC
(b)	Address of issuer's principal executive offices: 825 INDUSTRIAL ROAD, STE. 300, SAN CARLOS, CA, 94070
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 92243G108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 11296333
(b)	Percent of class: 8.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 11064015
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 11296333
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	02/17/2026

FAQ

What stake in Vaxcyte (PCVX) does T. Rowe Price report in this Schedule 13G/A?

T. Rowe Price Investment Management, Inc. reports beneficial ownership of 11,296,333 Vaxcyte common shares, representing 8.6% of the class as of December 31, 2025. This makes it a significant institutional holder above the 5% disclosure threshold.

How much voting power does T. Rowe Price report over Vaxcyte (PCVX) shares?

T. Rowe Price reports sole voting power over 11,064,015 Vaxcyte common shares and no shared voting power. This means it alone can vote those shares, subject to any underlying client arrangements that are not detailed in this ownership report.

Does T. Rowe Price seek to influence control of Vaxcyte (PCVX) with this stake?

The filing states the Vaxcyte shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control. It also notes the position is not held in connection with any control-related transaction.

What dispositive power over Vaxcyte (PCVX) shares does T. Rowe Price report?

T. Rowe Price reports sole dispositive power over 11,296,333 Vaxcyte common shares and no shared dispositive power. Sole dispositive power means it has authority to decide if and when these shares are sold or otherwise disposed, within applicable mandates.

Why is this Vaxcyte (PCVX) Schedule 13G/A labeled Amendment No. 1?

The document is marked Amendment No. 1, indicating it updates a prior Schedule 13G for Vaxcyte. Amendments typically reflect changes in ownership levels or other required details since an earlier beneficial ownership report was filed.

Does T. Rowe Price admit full beneficial ownership of Vaxcyte (PCVX) shares in this filing?

The filing explicitly states that T. Rowe Price Investment Management, Inc. should not be deemed the beneficial owner of the reported securities and that such beneficial ownership is expressly denied. This is a common legal disclaimer in institutional ownership reports.