Company: DVAX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001029142-25-000117
Chunk: 287

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 287
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 of June 30, 202511,135$11.08 3.87$7,621 Exercisable as of June 30, 20258,163$10.64 3.05$7,619 Restricted Stock UnitsThe following table summarizes the activity of RSUs for the six months ended June 30, 2025: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value Per ShareNon-vested as of December 31, 20245,363$12.15 Granted2,73812.63 Vested (1)(2,148)12.05 Forfeited(251)12.30 Non-vested as of June 30, 20255,702$12.41 (1)Inclusive of approximately 813,695 RSUs for the six months ended June 30, 2025, which were not converted into shares due to net share settlement in order to cover the required amount of employee withholding taxes. The value of the withheld shares was classified as a reduction to additional paid-in capital.Market-based Performance Stock UnitsWe granted market-based performance restricted stock units (“PSUs”) to certain executives. These PSUs vest upon a specified market condition. The summary of PSU activities for the six months ended June 30, 2025 is as follows:  Number of Shares (in thousands)Weighted-Average Grant-Date Fair Value Per ShareNon-vested as of December 31, 20241,115$16.59 Granted51720.19 Vested (1)(193)11.62 Non-vested as of June 30, 20251,439$18.55 (1)Inclusive of approximately 81,972 PSUs for the six months ended June 30, 2025, which were not converted into shares due to net share settlement in order to cover the required amount of employee withholding taxes. The value of the withheld shares was classified as a reduction to additional paid-in capital.

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Performance-based OptionsAs of June 30, 2025, approximately 36,000 shares underlying performance-based options were outstanding.Significant Assumptions in Estimating Option Fair ValueThe fair value of each time-based option is estimated on the date of grant using the Black-Scholes option valuation model. The fair value of each RSU is determined at the date of grant using our closing stock price. The fair value