Company: DVAX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049536
Chunk: 293

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 293
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 final settlement, we received an additional 1,771,422 shares of our common stock, bringing the total number of shares repurchased under the ASR Agreement to 7,920,538. The final number of shares repurchased was determined based on the average of the daily volume-weighted average price “VWAP”) per share of our common stock during the repurchase period, subject to adjustments pursuant to the terms and conditions of the ASR Agreement.In addition to the shares repurchased under the ASR Agreement, during the nine months ended September 30, 2025, we repurchased 8,135,637 shares of our common stock for an aggregate purchase price of approximately $91.7 million through open market transactions under the Repurchase Program. These repurchases were made in accordance with Rule 10b-18 under the Exchange Act and were funded using cash on hand.In connection with the Refinancing Transaction completed on March 13, 2025, and pursuant to our Repurchase Program, we repurchased an additional 569,560 shares of our common stock for approximately $8.0 million in privately negotiated transactions at a price per share of $14.01 (See Note 7).As of September 30, 2025, we have incurred approximately $0.9 million in excise taxes related to our share repurchase activity during the year, which are recorded in additional paid-in capital.As of September 30, 2025, we have completed all repurchases of our common stock under our Repurchase Program. Shares of our common stock repurchased under the Repurchase Program are immediately retired upon receipt and returned to authorized and unissued status. Repurchased common stock is reflected as a reduction of stockholders’ equity. Any excess of cost over par value is charged to additional paid-in capital to the extent that a balance is present. Once additional paid-in capital is fully depleted, any remaining excess of cost over par value is charged to accumulated deficit.

12. Equity Plans and Stock-Based Compensation

Equity PlansIn January 2021, we adopted the Dynavax Technologies Corporation 2021 Inducement Award Plan (“2021 Inducement Plan”), pursuant to which we reserved 1,500,000 shares of common stock for issuance under the plan to be used exclusively for grants of awards to individuals who were not previously our employees or directors. In June 2021, we amended the 2021 Inducement Plan (“Amended 2021 Inducement Plan”) to increase the number