Company: DVAX
Filing Date: 2025-04-15
Form Type: PRER14A
Source: 0000930413-25-001254
Chunk: 78

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-15
Form: PRER14A
Chunk 78
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 the year from the independent members of        
 our Board and the Chief Executive Officer’s direct reports. Our Chief Executive Officer conducts and presents the performance            
 reviews of the other NEOs to the Compensation Committee after the end of each fiscal year. In reviewing and determining the compensation 
 of each NEO, the Compensation Committee also considers individual factors, such as potential for future contributions to Company         
 growth, industry experience and retention concerns.                                                                                      |
| • | Recommendations of the Chief Executive Officer — The Compensation Committee seeks input from our Chief Executive                         
 Officer in setting the salary, target cash compensation levels and equity awards for the other NEOs, and for purposes of setting         
 annual performance metrics under our annual incentive program.                                                                           |
| • | Corporate Goals — The Compensation Committee reviews corporate goals used in our annual cash incentive program as                        
 proposed by management, provides feedback and makes recommendations to the Board for approval of full-year goals. The Compensation       
 Committee also reviews performance against the goals during the year, considers recommendations from management regarding achievement    
 at the end of the year, and makes recommendations to the Board for approval.                                                             |

Role of Compensation Consultant

Alpine has been engaged as the Compensation Committee’s
independent compensation consultant since 2023, and the Compensation Committee meets regularly with Alpine, both with and without management
present, depending upon the topic being discussed.

| 63 |

During the first quarter of 2024, the Compensation
Committee reviewed whether the work of Alpine as a compensation consultant raised any conflict of interest, taking into consideration
the following factors:

| • | The provision of other services to the Company;                                                                                 |
| • | The amount of fees paid to Alpine by the Company relative to Alpine’s total revenue;                                            |
| • | Alpine’s policies and procedures that are designed to prevent conflicts of interest;                                            |
| • | Any business or personal relationship of Alpine or the individual compensation advisors employed by Alpine with a member of the 
 Compensation Committee, or with an executive officer of the Company; and                                                        |
| • | Any Company stock owned by Alpine or the individual compensation advisors contracted by Alpine.                                 |

Based on the Compensation Committee’s review
of this information, it determined the work of Alpine and any individual compensation advisors contracted by 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,