Company: DVAX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049536
Chunk: 125

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 4
Chunk 125
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 call special meetings of stockholders;

•prohibiting stockholder actions by written consent;

•a classified Board of Directors pursuant to which our directors are currently elected for staggered  terms (until our 2026 Annual Meeting of Stockholders, at and after which directors will be elected to one-year terms);

•providing that a supermajority vote of our stockholders is required for amendment to certain provisions of our certificate of incorporation and bylaws; and

•establishing advance notice requirements for nominations for election to our Board of Directors or for proposing matters that can be acted on by stockholders at stockholder meetings.

Actions of activist stockholders against us have been and could be disruptive and costly, cause uncertainty about the strategic direction of our business, result in litigation, divert management’s and the Board of Director’s attention and resources, and have an adverse effect on our business and stock price.* 

From time to time, we may be subject to proposals by activist stockholders urging us to take certain corporate actions or to nominate certain individuals to our Board of Directors. For example, we were recently engaged in a proxy contest in connection with our 2025 Annual Meeting of Stockholders. Stakeholder perception of our performance or stock price may attract future stockholder activism. Future activist stockholder matters, including any proxy contest and/or potential related litigation, could have a material adverse effect on us for the following reasons:

•Such stockholders may attempt to effect changes in our governance and strategic direction or to acquire control over the Board of Directors or our company;

•While we welcome the opinions of all stockholders, responding to proxy contests and related litigation by activist stockholders could be costly and time-consuming, and could disrupt our operations, and divert the attention of our Board of Directors, management team and other employees away from their regular duties and the pursuit of business opportunities to enhance stockholder value;

•Perceived uncertainties as to our future direction and control, our ability to execute on our strategy, or changes to the composition of our Board of Directors or senior management team arising from a proxy contest could lead to the perception of a change in the direction of our business, instability or lack of continuity, which may be exploited by our competitors and cause concern to our existing or potential collaboration partners, employees and stockholders; make it more difficult to pursue our strategic initiatives, limit our ability to attract and retain qualified personnel and business partners or harm our ability to attract investors, any of which could adversely affect our business and operating results and cause our stock price to experience periods of