Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 64

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 64
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 and/or operational performance goals                        |     | No repricing of underwater stock options without stockholder approval           |
| Engage an independent compensation consultant to guide compensation plan designs                                                 |     | No incentive programs with uncapped performance modifiers and/or payout         |
| Seek input from, listen to and respond to stockholders, incorporating reasonable changes to compensation approach as appropriate |     | No excise tax gross-ups                                                         |
| Conduct an annual say-on-pay vote                                                                                                |     | No excessive perquisites                                                        |
| Prohibit hedging and pledging by executive officers and directors                                                                |     | No guaranteed bonuses                                                           |
| Maintain a clawback policy to recoup incentive-based compensation awards under certain circumstances                             |     | No incentive to undertake excessive risks are built into our compensation plans |

Consideration of Our Prior Say-on-Pay Votes and Related Stockholder Engagement

Fostering long-term relationships and maintaining trust and dialog
with our stockholders has been a key priority for us. In 2016, our Board adopted, and our stockholders approved, a policy that we would
hold a say-on-pay vote on a yearly basis, a practice we have since maintained. Since initiating an annual say-on-pay practice, we have
experienced continued favorable voting results. In the past three years, our stockholders have voted in favor of our pay practices, with
approximately 93%, 92% and 96% support for fiscal years 2022, 2023, and 2024, respectively.

We routinely engage with our stockholders and obtain feedback throughout
the course of the year. In addition to seeking input through our say-on-pay vote, we also seek feedback from the governance teams of our
largest institutional stockholders each year pertaining to executive compensation, governance as well as other topics of interest to them.
We also consider feedback from Institutional Shareholder Services and Glass Lewis (together, the “Proxy Advisory Firms”),
in addition to the say-on-pay voting results of the prior year’s say-on-pay proposal as noted above. These outreach and feedback
mechanisms complement the many touchpoints our investor relations team has with stockholders throughout the year. In addition, on a more
informal basis, we also engage with our stockholders through industry and corporate governance conferences and informal exchanges in other
settings. 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