Company: DVAX
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001029142-25-000049
Chunk: 44

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-02-20
Form: 10-K
Item: Item 9B
Chunk 44
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 and make determinations with respect to the Rights Agreement and the rights issued thereunder. In particular, the Amendment confirms that nothing in the Rights Agreement, express or implied, including any provision requiring or permitting the Board to take (or refrain from taking) any action or making any determination shall be deemed to limit or eliminate the fiduciary duties of the Board under applicable law. The Rights Agreement otherwise remains unmodified and in full force and effect in accordance with its terms.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Amendment, a copy of which we filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 27, 2024 as Exhibit 4.1 to a Current Report on Form 8-K.

The Company denies and continues to deny all allegations of wrongdoing in the Action. We and the Plaintiff agreed that the Amendment and our actions related to the Amendment rendered Plaintiff’s claims moot. We also subsequently agreed to pay $155,000 in attorneys’ fees and reimbursement of expenses (the “Mootness Fee,” inclusive of a 

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$500 service award to Plaintiff) in full satisfaction of any and all claims by Plaintiff and his counsel for fees and expenses in the Action. The Court has not and will not pass judgment on the amount of the Mootness Fee.

On February 17, 2025, the Court entered an order closing the Action, subject to us filing an affidavit with the Court confirming that these disclosures in this Annual Report on Form 10-K, which shall constitute notice to the putative class for purposes of Delaware Court of Chancery Rule 23, have been filed with the SEC.