Company: DVAX
Filing Date: 2025-04-15
Form Type: PRER14A
Source: 0000930413-25-001254
Chunk: 102

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-15
Form: PRER14A
Chunk 102
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 contract manufacturing
organizations, with whom we developed and implemented plans to help scale-up activities to support pandemic-level production of our CpG
1018 adjuvant as necessary to support these and any future collaborations. As of December 31, 2022, our delivery obligations under our
related supply agreements with all five organizations had been fully satisfied. We continue to work to identify other programs where CpG
1018 adjuvant can be utilized to enhance the immune response to a coronavirus vaccine or other vaccines targeted at serving a global unmet
need.

STOCKHOLDER OUTREACH AND ENGAGEMENT

Our Board and management team value the views of our stockholders and
we proactively engage with our major stockholders on a regular basis throughout the year. In addition, we seek feedback from the governance
teams of our largest institutional stockholders each year. During 2024, we continued this long-standing practice, conducting over 300
meetings with investors and analysts, including 90% of our top 10 actively managed stockholders. In the first quarter of 2025, we met
with over 80 investors and analysts. During this outreach, we have significant and meaningful dialogue with our stockholders regarding
our compensation and governance policies. We believe our outreach efforts help ensure that our stockholders are aware of our governance
initiatives and provide us with valuable feedback in order to enhance our governance practices and disclosure to stockholders.

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Feedback from our outreach informs the Compensation Committee’s
thinking when evaluating our current compensation program and considering potential modifications to our compensation programs. It also
informs the Nominating and Corporate Governance Committee’s thinking when evaluating our corporate governance as well as ESG matters.
Based on this feedback and a systemic review of our governance, our Board determined to approve an amendment and restatement of our Restated
Certificate of Incorporation to declassify the Board on a phased basis and submit the proposed amendment to the stockholders for approval
at the Annual Meeting. The Board believes that the classification of the Board has benefited the Company by strengthening the independence
of Board members and encouraging the consideration of the long-term best interests of the Company and our stockholders against the often
short-term focus of certain stockholders and special interests, and ensuring the continuity of highly qualified, engaged and knowledgeable
directors focused on our long-term strategy and stockholder return. Nevertheless, the Board has considered that stockholders would like
the opportunity to review the composition of the Board on an annual basis and has determined