Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 75

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 75
---
, and
our Board approves, changes to our Non-Employee Director Compensation Policy from time to time. Our Non-Employee Director Compensation
Policy provides that initial equity awards for non-employee members of our Board are automatically made upon the member’s
appointment or election to our Board, and annual grants are made automatically following the conclusion of our annual stockholder
meeting.

The per share exercise price of stock options
we grant is not less than the closing price per share of our common stock as reported by Nasdaq Stock Market LLC on the grant date
of the stock option. The Compensation Committee does not time grants of stock options to coordinate with the release of material
non-public information, and we have not timed the disclosure of material non-public information for purposes of affecting the value
of executive compensation.

Our new hire grants are generally made on
the following cadence: (i) equity awards are pre-approved for employees vice president and above, to be effective upon their agreed
first day of employment, and (ii) awards for new employees below the vice president level are approved on the tenth day of each
month. Annual awards are usually approved around mid-February at a regularly scheduled meeting.

During the fiscal year ended December 31,
2024, our NEOs were awarded stock options, in the period beginning four business days before the filing of a periodic report on
Form 10-Q or Form 10-K or the filing or furnishing of a current report on Form 8-K that disclosed material nonpublic information
and ending one business day after the filing or furnishing of such report, as set forth in the table below.

| Name                 |     | Grant date(1) |     | Number of Securities 
 underlying the award |     | Exercise Price of 
 the award ($/Sh)  |       |     | Grant date fair    
 value of the award |           |     | Percentage 
 Change(2)  |
|:---------------------|:----|:--------------|:----|---------------------:|:----|:------------------|------:|:----|:-------------------|----------:|:----|:-----------|
| Ryan Spencer         |     | 2/15/2024     |     |              231,000 |     | $                 | 12.48 |     | $                  | 1,824,299 |     | 2.5%       |
| Kelly MacDonald      |     | 2/15/2024     |     |               65