Company: DVAX
Filing Date: 2025-04-17
Form Type: DEFC14A
Source: 0000930413-25-001273
Chunk: 29

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-17
Form: DEFC14A
Chunk 29
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5.

On February 13, 2025, the Board met with the Company’s management for the standing quarterly Board update meeting and discussed,
among other things, a business update and comprehensive corporate strategy update, which included discussion of capital allocation
alternatives, Share Repurchase Program progress and liability management opportunities.

On February 18, 2025, White & Case LLP, new outside
counsel to Deep Track (“White & Case”) submitted a notice to the Company on behalf of Deep Track (the “Deep Track
Nomination Notice”) which: (1) nominated each of the three Initial Deep Track Nominees, as well as a new nominee, Michael Mullette
(collectively, the “Deep Track Nominees”) for election to the Board at the Annual Meeting and (2) included a proposal for
adoption at the Annual Meeting to repeal each provision of, or amendment to, the Company’s Amended and Restated Bylaws adopted by
the Board without stockholder approval subsequent to November 6, 2018.

On February 19, 2025, Deep Track issued a press release
with a letter to the Company’s stockholders regarding its nomination of the Deep Track Nominees and filed an amendment to its Schedule
13D with respect to the Deep Track Nomination Notice and intent to file a preliminary proxy statement with respect to the proposals set
forth therein. The Company promptly updated the Board regarding the Deep Track Nomination Notice and Deep Track’s press release
and provided the Company’s proposed press release in response to the Board for review.

Later on February 19, 2025, the Company issued a press
release regarding the Company’s execution of its strategic plan and ongoing Board refreshment process and the Company’s engagement
with Deep Track. Later that day, the Board held a meeting to discuss the Deep Track Nomination Notice, the Company’s public response
and expected next steps.

On February 20, 2025, the Company announced earnings
for the fourth quarter and full year of 2024, and provided full-year 2025 financial guidance.

Also on February 20, 2025, White & Case delivered
to the Company and Cooley, on behalf of Deep Track, a letter to the Board requesting confirmation that Deep Track’s nomination of
the Deep Track Nominees was properly made under the Company’s Amended and Restated Bylaws and applicable law.

On February 21, 2025, Cooley delivered to Deep Track
and White