Company: DVAX
Filing Date: 2025-04-17
Form Type: DEFC14A
Source: 0000930413-25-001273
Chunk: 77

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-17
Form: DEFC14A
Chunk 77
---
 Alpine as compensation consultant
to the Compensation Committee, did not create any conflict of interest. The Compensation Committee has the sole authority to direct, terminate
or continue Alpine’s services, and the Company pays the cost for Alpine’s services. During 2024, the Company paid Alpine approximately
$126,000 for compensation consulting work performed.

In 2024, Alpine provided advice to the Compensation
Committee on several different aspects of its responsibilities related to our compensation programs and practices. Specifically, during
2024, Alpine assisted the Compensation Committee as follows:

| • | Provided recommendations to the Compensation Committee on refining our peer group;                  |
| • | Provided general information concerning executive compensation trends and developments;             |
| • | Reviewed and analyzed compensation levels of our NEOs in comparison to those of our peer companies; |
| • | Reviewed equity strategy, design and guidelines for both annual and new hire awards;                |
| • | Provided the Board with a review of competitive data from the peer group on Board compensation; and |
| • | Reviewed the Compensation Discussion and Analysis for inclusion in our proxy statement.             |

2024 Peer Group and Use of Market Data

Our Compensation Committee primarily uses relevant
publicly disclosed market data for a general understanding of executive market compensation practices and our positioning within the market,
including positioning within our peer group. Our Compensation Committee believes that over-reliance on benchmarking could result in compensation
that is unrelated to the value delivered by the NEOs because compensation benchmarking does not take the specific performance of the NEOs,
or the performance of the Company in its unique circumstances, into account.

Our Compensation Committee does not have a specific
target compensation level for the NEOs or otherwise use a formulaic approach to setting pay at a particular position within the market
data; rather, the Compensation Committee reviews a range of market data reference points including relevant Aon Radford Global Life Sciences
survey data as well as disclosed data from the Company’s peer group with respect to total target cash compensation including both
base salary and the annual target performance bonus. With regard to market data on equity compensation, the Compensation Committee considers
both disclosed grant date fair value and also shares granted, expressed as a percentage of total common shares outstanding to support
its compensation decisions.

For 2024, our Compensation Committee approved a peer
group of biotechnology companies at a similar stage of their life cycle with which we compete for executive and board talent that were
of similar size to the Company in terms of market capitalization (targeting