Company: DVAX
Filing Date: 2025-04-17
Form Type: DEFC14A
Source: 0000930413-25-001273
Chunk: 35

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-17
Form: DEFC14A
Chunk 35
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 does not include an appropriate standstill,
(3) reiterating that the March 12 Proposal remained on the table, and (4) expressing openness to continuing the dialog and
a desire to reach a settlement agreement.

On April 15, 2025, the Company filed a revised proxy statement with the SEC in preliminary form.

On April 16, 2025, Deep Track issued a press release commenting on the Company's response to the April 10 Counterproposal.

On April
17, 2025, the Company filed this proxy statement with the SEC in definitive form.

| 14 |

<div align='center'>PROPOSAL 1

ELECTION OF DIRECTORS</div>

Our Board is currently divided into three classes, and
each class has a three-year term. A director elected by the Board to fill a vacancy in a class, including vacancies created by an increase
in the number of directors, shall serve for the remainder of the full term of that class and until the director’s successor is elected
and qualified.

On January 26, 2025, our Board appointed (i) Lauren
Silvernail to serve as a Class I director until the Annual Meeting and (ii) Emilio Emini, Ph.D. to serve as a Class III director until
the 2027 Annual Meeting of Stockholders, in each case effective as of February 3, 2025, and until her or his successor is duly elected
and qualified, or until her or his earlier death, resignation or removal. At that time, the Board increased the authorized number of directors
to eleven (11), effective as of immediately prior to the appointments of Ms. Silvernail and Dr. Emini. On January 26, 2025, Peggy V. Phillips,
a Class III director, and Julie Eastland, a Class I director, notified the Company that Ms. Phillips will be retiring and Ms. Eastland
will be resigning from the Board, each effective immediately prior to the Annual Meeting. In view of the retirement and resignation of
Mses. Phillips and Eastland immediately prior to the Annual Meeting, the Board decreased the authorized number of directors to nine (9),
effective immediately prior to the Annual Meeting.

As a result, four Class I director nominees will be
elected at this Annual Meeting. Each of Ms. Sun and Messrs. MacGregor and Myers is a nominee for director and currently a director of
the Company, previously elected by the stockholders at our