Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 71

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 71
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 Executive Officer typically
recommends individual goals for each of the other NEOs, which are aligned with our business strategy and linked to corporate goals,
and our Compensation Committee approves these goals. The individual goals for the NEOs include critical responsibilities assigned
to each NEO that go beyond the corporate goals and are significant to our success. Established in February 2024, the 2024 individual
goals for the NEOs named below focused on objectives linked to their functional expertise and responsibility as well as our then-current
business strategy. These specific goals were in addition to the general responsibilities each NEO had for managing his or her respective
functional operational area.

While individual goals and performance results relate to advancing
our corporate goals and business strategy, the Compensation Committee structures individual goals to be targeted to each applicable
NEO’s expertise and responsibility and evaluates achievement based on each applicable NEO’s individual efforts and
performance results. Thus, there can be circumstances where the individual goal grading may exceed corporate goal achievement,
and there can be instances where the corporate goal achievement may surpass the individual goal grading. In February 2025, based
on the recommendation of Mr. Spencer, as well as its own assessment of each NEO’s effectiveness, the Compensation Committee
determined the level of achievement of each NEO’s 2024 individual goals as follows:

| 54 |

| Name            | Individual Goals                                                                                                                  | Individual Achievement                                                                               | Individual  
 Achievement 
 Percentage  |
| Kelly MacDonald | •       Deliver target financial metrics set forth in Board                                                                       
 approved operating plan (20%)                                                                                                     
 •       Cash management (corporate goal): Manage business to achieve                                                              
 year-end cash & equivalents of >$768 million (free cash flow of >$25mm) *                                                         
 •       Expense management & governance: Deliver Board-approved                                                                   
 operating plan expenses within +5% *                                                                                              
 •       Continue to build a best-in-class Investor Relations                                                                      
 and Corporate Communications function (20%)                                                                                       
 •       Broaden investor base: Execute a disciplined corporate                                                                    
 access strategy, including quarterly revisions to investor targeting program, addition of at least two new targeted institutional 
 investors, and execute at least seven corporate access days (conferences and non-deal roadshows)                                  
 •       Continue to drive corporate visibility and reputation                                                                     
 platform, including launching product communications initiatives, establishing a Corporate Responsibility/ESG website             
 section, and growing our thought leadership profile.                                                                              
 •       Develop comprehensive financial guidance strategy to be                                                                   
 reviewed and approved by Board (Audit Committee)