Company: DVAX
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001029142-25-000049
Chunk: 43

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 9B
Chunk 43
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ITEM 9B. OTHER INFORMATION

Trading Arrangements

During our last fiscal quarter, our directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated the contracts, instructions or written plans for the purchase or sale of our securities set forth in the table below.

Type of Trading ArrangementName and PositionActionAdoption/ TerminationDateRule 10b5-1*Non-Rule 10b5-1**Total Shares of Common Stock to be SoldTotal Shares of Common Stock to be PurchasedExpiration DateDavid Novack, President and Chief Operating OfficerAdoptionDecember 6, 2024X684,000 shares of common stock underlying stock options; up to 47,977 shares of common stock underlying restricted stock units; and up to 26,500 shares of common stock underlying performance-based restricted stock unitsFebruary 20, 2026, unless earlier terminated (i) by Mr. Novack or (ii) on the first date on which all trades under Mr. Novack’s plan have been executed or are expired* Contract, instruction or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.** “Non-Rule 10b5-1 trading arrangement” as defined in Item 408(c) of Regulation S-K under the Exchange Act. 

Resolution of Class Action Law Suit 

As previously disclosed, on October 28, 2024, our Board of Directors (the “Board”) adopted a limited-duration stockholder rights plan (the “Rights Agreement”).

On November 26, 2024, plaintiff Terry Ignasiak (the “Plaintiff”) filed a putative class action complaint (the “Complaint”) in the Court of Chancery of the State of Delaware (the “Court”) against the Company and the Board under the caption Ignasiak v. Dynavax Technologies Corporation et al., C.A. No. 2023-1219-JTL (the “Action”). The Action alleged, among other things, that Section 28 of the Rights Agreement improperly eliminated all liability of the Board for any action conducted in connection with the Rights Agreement.

After the Complaint was filed, on December 26, 2024, we entered into Amendment No. 1 (the “Amendment”) to the Rights Agreement. The Amendment removed and replaced Section 28 of the Rights Agreement making certain technical amendments to the rights and obligations of the Board to administer