Company: DVAX
Filing Date: 2025-04-15
Form Type: PRER14A
Source: 0000930413-25-001254
Chunk: 19

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-15
Form: PRER14A
Chunk 19
---
 was not criticizing the Company’s operational execution.

On November 21, 2024, the Board met with the Company’s management and several advisors including Goldman Sachs and Cooley (collectively, the “Advisor
Team”) to discuss
the recent communications from Deep Track and next steps for engagement with Deep Track, as well as the status of the Board’s ongoing
director refreshment process.

Also on November 21, 2024, a representative of Cadwalader,
Wickersham & Taft LLP (“Cadwalader”), outside counsel to Deep Track, sent a letter to the Company requesting a copy of
the Company’s written questionnaire for proposed director nominees and asking certain questions regarding the Company’s nomination
process. The Company sent a copy of the questionnaire and responses to Cadwalader’s questions to Cadwalader on November 24, 2024.

On November 22, 2024, Mr. Myers sent an email to Deep
Track requesting a call with representatives of Deep Track.

On December 3, 2024, Mr. Myers, Mr. Spencer and Mr.
Cox held a call with Mr. Kroin and Mr. Erkman and engaged in a discussion regarding the topics raised in the November 14 Letter, including
Deep Track’s views on the Company’s standalone prospects, capital allocation strategy, strategic plan and Board composition.
Mr. Myers requested the names of Deep Track’s potential director nominees. Mr. Kroin confirmed that Mr. Erkman was the Deep Track
principal mentioned in the November 14 Letter and stated that the other two potential nominees comprised a former public company CEO and
a current public company CFO but that Deep Track was not prepared to share their names at this time given that Deep Track was not yet
sure of whether it would be taking an adversarial or collaborative stance with the Company at such time. Mr. Myers also informed Deep
Track that the Board was nearing completion of its current director recruitment process undertaken as part of the Board’s ongoing
refreshment process and that the Board had identified a qualified independent candidate that would add value to the Board. Deep Track
reiterated that it was not seeking to replace management and that its recent actions were strictly related to capital allocation strategy.

On December 12, 2024, the Board met with the Company’s management and the Advisor Team to discuss
the November 14 Letter, the December 3, 2024, meeting with Deep Track, ongoing Board refreshment matters (including the timing of appointing
Dr