Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 70

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 70
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. Base goals in the aggregate were set to be appropriately difficult to require substantial effort during the year
to help create long-term value and to advance our business in the best interests of stockholders. The base goals were designed
to represent, if fully achieved, what would be, in our view, a very successful year for the Company. We also provided stretch goals
as an additional incentive toward over-achievement. The stretch goals, if achieved, were intended to provide a total bonus opportunity
in excess of 100% that incentivizes total value creation, including achievement and/or exceeding our base objectives. The maximum
possible payout, based on the achievement of the corporate goals and any applicable individual goals, is subject to a cap of 175%
of each individual’s target bonus, in accordance with the terms of our bonus plan. All goals, stretch goals included, were
set at the same time, in early 2024, were tied to specific performance metrics and were not adjusted during the year. No purely
discretionary bonuses or accelerators were provided as part of the 2024 bonus program at its outset.

Because we are a fully integrated biopharmaceutical
company with a marketed product and ongoing vaccine development program, our corporate goals were directly aligned with specific
strategic objectives incorporating matters that management could influence or control. We believe that our focus on these goals,
and our respective performance in pursuing them, properly aligned management’s interests with those of our stockholders and
helped to increase potential stockholder value. In February 2025, the Compensation Committee evaluated the accomplishments and
performance of the Company against these goals. With respect to each of the categories of corporate goals below, the Compensation
Committee took into consideration each of the goals identified and the level of completion in making an overall determination of
goal achievement for each category.

2024 Corporate Goals and Achievements.
For 2024, our corporate strategy focused on three strategic priorities: (i) Drive growth in HEPLISAV-B [Hepatitis B Vaccine (Recombinant),
Adjuvanted], (ii) Advance our differentiated pipeline programs into clinical trial initiations and data readouts; and (iii) Identify
strategic opportunities to accelerate growth, while maintaining a disciplined allocation of capital aligned with corporate strategy
to deliver long-term value through internal and external innovation.

Accordingly, our corporate goals were designed
to further build on these pillars and to help strengthen our overall financial position, our organizational capabilities and our
culture. After its