Company: DVAX
Filing Date: 2025-04-17
Form Type: PRRN14A
Source: 0001193125-25-084044
Chunk: 24

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-17
Form: PRRN14A
Chunk 24
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 Company’s independent public accounting firm requires the affirmative vote of the majority of shares present (either virtually at the 2025
Annual Meeting or by proxy) and entitled to vote on the matter at the 2025 Annual Meeting.

WE RECOMMEND A VOTE “FOR” THIS PROPOSAL ON THE ENCLOSED WHITE PROXY CARD.

23

PROPOSAL FOUR

DECLASSIFICATION PLAN

As
discussed in further detail in the Company’s proxy statement, the Company is asking Stockholders to approve the Declassification Plan.

The Company’s restated certificate of incorporation currently provides for a classified Board consisting of three classes of directors,
with each class of directors serving staggered three-year terms. As a result, only one class of directors stands for election at each annual meetings of Stockholders, such that Stockholders vote on and elect approximately one-third of the Board each year.

At the 2025 Annual Meeting, the Company is asking Stockholders to
approve the proposed amendment and restatement of its restated certificate of incorporation to eliminate the classification of the Board over a three-year period starting in 2026, provide for the annual election of all directors beginning at the
2028 annual meeting of Stockholders, and make certain conforming and technical changes to the restated certificate of incorporation.

If
this proposal is approved, the declassification of the Board would be phased-in over a three-year period, beginning at the Company’s 2026 annual meeting of Stockholders, at and after which directors would
be elected to one-year terms, as the incumbents’ current three-year terms expire. Directors elected before the 2025 Annual Meeting (including those elected at the 2025 Annual Meeting itself) will serve
out their three-year terms and stand for annual reelection thereafter.

Accordingly, the three-year term for the Class I directors
elected at the 2022 annual meeting of Stockholders would expire as originally scheduled at the 2025 Annual Meeting, the three-year term for the Class II directors elected at the 2023 annual meeting of Stockholders would expire as originally
scheduled at our 2026 annual meeting of Stockholders, and the three-year term for the Class III directors elected at the 2024 annual Meeting of stockholders would expire as originally scheduled at the 2027 annual meeting of Stockholders.
Director nominees standing for election at the 2025 Annual Meeting would be elected to serve a three-year term until the 2028 annual meeting of Stockholders.

The description of this Proposal