Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 49

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 49
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 the Chair of the Compensation Committee and $10,000 for each additional member of the Compensation Committee);  
 and                                                                                                                         |
| • | A $10,000 annual retainer for the Chair of the Nominating and Corporate Governance Committee and $5,000 annual retainer     
 for each additional member of the Nominating and Corporate Governance Committee.                                            |

Cash compensation is paid on a quarterly basis, in advance, except that for new appointments (whether to
the Board or to a committee seat not previously held) the fees for that quarter are pro-rated based on the actual number of days
served during such quarter. We also reimburse our non-employee directors for their reasonable expenses incurred in attending meetings
of our Board and committees of our Board.

EQUITY COMPENSATION

The below summarizes our equity compensation
program during 2024 for non-employee directors under the Director Compensation Policy:

| • | Each new director automatically receives an initial equity award (“Initial Grant”) upon                                           
 the date each such person is elected or appointed to the Board that vests in equal annual installments over three years, provided 
 the director continues to provide services to us through each vesting date;                                                       |
| • | The Initial Grant consists of a non-qualified stock option and an RSU, together equal to the stock option equivalent of           
 60,000 shares of our common stock (under the Amended Director Compensation Policy, the Initial Grant decreased such that the      
 Initial Grant consists of a non-qualified stock option and an RSU, together equal to the stock option equivalent of 57,000        
 shares of our common stock);                                                                                                      |
| • | On the date of each annual meeting of our stockholders, each non-employee director automatically receives a subsequent            
 equity award (“Subsequent Grant”) that vests in full on the one-year anniversary of the grant date, provided the                  
 director continues to provide services to us through each vesting date; and                                                       |
| • | The Subsequent Grant consists of a non-qualified stock option and an RSU, together equal to the stock option equivalent           
 of 30,000 shares of our common stock (under the Amended Director Compensation Policy, the Subsequent Grant increased such         
 that the Subsequent Grant consists of a non-qualified stock option and an RSU, together equal to the stock option equivalent      
 of 38,000 shares of our common stock).                                                                                            |

| 34 |

Each Initial Grant and each Subsequent Grant under the Director Compensation Policy (as well