Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 47

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 47
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 are warranted;                                                                                                            |
| • | review the adequacy of our certificate of incorporation and bylaws and recommend to the Board, as conditions dictate,     
 proposed amendments to our certificate of incorporation and bylaws; and                                                   |
| • | provides general oversight of our ESG strategy, targets, policies, performance, and reporting, and reviews and discusses  
 with management practices with respect to ESG matters that are expected to have a significant long- and short-term impact 
 on the Company’s performance, business activities, or reputation.                                                         |

| 32 |

In identifying potential director candidates, the Nominating and Corporate Governance Committee considers
Board candidates through a variety of methods and sources. These include suggestions from current Board members, senior management,
stockholders, professional search firms and other sources. The Nominating and Corporate Governance Committee considers director
candidates recommended by stockholders in the same manner as candidates identified through other sources.

This consideration of stockholder recommendations is separate from stockholder nominations of directors made
pursuant to the advance notice provisions set out in the Company’s Amended and Restated Bylaws and pursuant to Section 14
of the Exchange Act. The Nominating and Corporate Governance Committee does not intend to alter the manner in which it evaluates
candidates, including the minimum criteria discussed in “Director Recruitment, Nominations and Succession Planning”
set forth above, based on whether or not the candidate was recommended by a stockholder. See “Questions and Answers about
the Annual Meeting—When are stockholder proposals due for the 2026 Annual Meeting?” for further information on the
advance notice provisions by which stockholders can submit director nominees for election. See “Background of the Solicitation”
for further information on the Nominating and Corporate Governance Committee’s evaluation of the Board Nominees.

<div align='center'>DIRECTOR COMPENSATION</div>

NON-EMPLOYEE DIRECTOR COMPENSATION PHILOSOPHY

Our non-employee director compensation philosophy is based on the following guiding principles:

| • | aligning the long-term interests of stockholders and directors; and                        |
| • | compensating directors appropriately and adequately for their time, effort and experience. |

The elements of director compensation consist of annual cash retainers and equity awards, as well as customary
and usual expense reimbursement in attending Board and committee meetings (the “Director Compensation Policy”). In
an effort to align the long-term interests of our stockholders and non-employee directors, the mix of cash and equity compensation