Company: DVAX
Filing Date: 2025-04-15
Form Type: PRER14A
Source: 0000930413-25-001254
Chunk: 65

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-15
Form: PRER14A
Chunk 65
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 consultants to supplement our team as needed; and                                                |
| • | We evaluated numerous opportunities while staying consistent with desire to maintain discipline and selectivity.                         |

| 46 |

Compensation Governance Highlights

| What we do                                                                                                                       |     | What we do not do                                                               |
| Design overall executive compensation programs to align pay with performance                                                     |     | No excessive change in control or severance payments                            |
| Tie a significant proportion of equity awards to performance-based vesting                                                       |     | No single-trigger change in control cash payments                               |
| Design non-equity incentive plans to incorporate personal, financial and/or operational performance goals                        |     | No repricing of underwater stock options without stockholder approval           |
| Engage an independent compensation consultant to guide compensation plan designs                                                 |     | No incentive programs with uncapped performance modifiers and/or payout         |
| Seek input from, listen to and respond to stockholders, incorporating reasonable changes to compensation approach as appropriate |     | No excise tax gross-ups                                                         |
| Conduct an annual say-on-pay vote                                                                                                |     | No excessive perquisites                                                        |
| Prohibit hedging and pledging by executive officers and directors                                                                |     | No guaranteed bonuses                                                           |
| Maintain a clawback policy to recoup incentive-based compensation awards under certain circumstances                             |     | No incentive to undertake excessive risks are built into our compensation plans |

Consideration of Our Prior Say-on-Pay Votes and Related Stockholder Engagement

Fostering long-term relationships and maintaining trust and dialog
with our stockholders has been a key priority for us. In 2016, our Board adopted, and our stockholders approved, a policy that we would
hold a say-on-pay vote on a yearly basis, a practice we have since maintained. Since initiating an annual say-on-pay practice, we have
experienced continued favorable voting results. In the past three years, our stockholders have voted in favor of our pay practices, with
approximately 93%, 92% and 96% support for fiscal years 2022, 2023, and 2024, respectively.

We routinely engage with our stockholders and obtain feedback throughout
the course of the year. In addition to seeking input through our say-on-pay vote, we also seek feedback from the governance teams of our
largest institutional stockholders each year pertaining to executive compensation, governance as well as other topics of interest to them.
We also consider feedback from Institutional Shareholder Services and Glass Lewis (together, the “Proxy Advisory Firms