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Peel and thinly slice the shallot.
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Heat the olive oil in a small pan (medium/low heat), add the shallot and wait for the first bubbles. Add the honey and the vanilla extract. Turn the heat off, stir a little and set aside.
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Place the fava beans, the basil leave and a pinch of salt in a grinder. Pulse for a few seconds: you want a rough pesto.
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Thinly slice the pecorino cheese and place it over one of the bread slices, add the fava beans pesto, then the caramelized shallot (leave the oil in the pan).
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Cover with the second slice of bread.
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Heat the pan (with the liquids from the shallot, if necessary add a teaspoon of oil).
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Place the sandwich in it, cover and grill 1-2 minutes per side (until the cheese melts).
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Your Pecorino Grilled Cheese Sandwich is ready.