Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 80

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 80
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 The following eight companies were added to the peer
group: Collegium Pharmaceuticals, Inc., Exelixis, Inc., Harmony Biosciences Holdings, Inc., Ionis Pharmaceuticals, Inc., Novavax, Inc.,
PTC Therapeutics, Inc., Vir Biotechnology, Inc. and Vaxcyte, Inc. As of August 2023, the point at which the Compensation Committee approved
the 2023-2024 peer group, the companies in the 2023-2024 peer group had market capitalizations ranging between approximately $380.5 million
to $6.4 billion, and the median market capitalization of our peer group was $1.7 billion. At the same point in time, our market capitalization
was $1.825 billion. The following table lists our 2023-2024 peer group which was applicable to performance year 2024 compensation:

| • | Acadia Pharmaceuticals, Inc.    |     | • | Exelixis, Inc.                 |     | • | Novavax, Inc.                  |
| • | Agenus, Inc.                    |     | • | Fibrogen, Inc.                 |     | • | Pacira BioSciences, Inc.       |
| • | Alector, Inc.                   |     | • | Harmony Biosciences, Inc.      |     | • | PTC Therapeutics, Inc.         |
| • | Amicus Therapeutics, Inc.       |     | • | Immunogen, Inc.                |     | • | Supernus Pharmaceuticals, Inc. |
| • | Collegium Pharmaceuticals, Inc. |     | • | Ionis Pharmaceuticals, Inc.    |     | • | Travere Therapeutics, Inc.     |
| • | Corcept Therapeutics, Inc.      |     | • | Ironwood Pharmaceuticals, Inc. |     | • | Vaxcyte, Inc.                  |
| • | Eagle Pharmaceuticals, Inc.     |     | • | Mannkind Corp.                 |     | • | Vir Biotechnology, Inc.        |

Tax and Accounting Implications

Accounting for Stock-Based Compensation

Under Financial Accounting Standard Board ASC Topic
718 (“ASC 718”), we are required to estimate and record an expense for each award of equity compensation over the vesting
period of the award. We record share-based compensation expense on an ongoing basis according to ASC 718. The accounting impact of our
compensation programs is one of many factors that the Compensation Committee considers