Company: DVAX
Filing Date: 2025-01-29
Form Type: 8-K
Source: 0001193125-25-015683
Chunk: 0

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-01-29
Form: 8-K
Item: Item 5.02
Chunk 0
---
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Appointment of New Directors

On January 26, 2025, the Board of Directors (the “ Board”) of Dynavax Technologies Corporation (the “ Company”) appointed (i) Lauren Silvernail to serve as a Class I Director, to serve until the 2025 Annual Meeting of Stockholders (the “2025 Annual Meeting”) and (ii) Emilio Emini, Ph. D. to serve as a Class III Director, to serve 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. The Board does not currently intend to appoint Dr. Emini to any committees of the Board and intends to appoint Ms. Silvernail as a member and chairperson of the Audit Committee of the Board, effective as of the date of the 2025 Annual Meeting.

Pursuant to the Company’s non-employeedirector compensation policy, as amended from time to time, on the date of their appointments, Ms. Silvernail and Dr. Emini will each receive an initial grant of 51,386 shares (42,750 stock options and 8,636 restricted stock units), with approximately 80% of the value delivered as a non-qualifiedstock option (“ NSO”) and approximately 20% of the value delivered as restricted stock units (“ RSU”). The NSO and RSU will be granted under the Company’s 2018 Equity Incentive Plan (the “2018 Plan”) and vest over three years in equal annual installments on the anniversary of the grant date, provided that Ms. Silvernail and Dr. Emini respectively continue to provide services to the Company through each vesting date. The release of Ms. Silvernail and Dr. Emini’s respective RSU shares will be mandatorily deferred until the earlier of each of Ms. Silvernail or Dr. Emini no longer providing services to the Company or a Change in Control (as defined in the 2018 Plan). Ms. Silvernail and Dr. Emini will also each receive an annual cash retainer of $50,000 for service as a member of the Board and Ms. Silvernail will receive an annual cash retainer of