Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 16

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 16
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. Myers noted that
he would share Deep Track’s feedback with the Board.

On September 13, 2024, Mr. Myers updated the Board on
the meeting with Deep Track, including Deep Track’s perspective on the Company’s capital allocation strategy and strategic
plan and the expectation that Deep Track would file a Schedule 13D.

On September 16, 2024, Deep Track filed a Schedule 13D
with the SEC disclosing Deep Track’s 9.56% ownership interest in the Company and stating Deep Track’s intent to engage in
discussions with the Company’s management and the Board relating to the Company’s performance, business, operations, strategic
opportunities, governance (including Board composition), and optimal use of cash (expressly stating Deep Track’s view that the Company’s
cash would be best deployed by returning capital to the Company’s stockholders) and to take further actions with respect to Deep
Track’s investment in the Company following such discussions.

Also on September 16, 2024, a representative of Deep
Track’s outside counsel sent the Company’s general counsel a letter notifying the Company that the acquisition of the Company’s
shares by certain members of Deep Track was subject to the Hart-Scott-Rodino Act (“HSR Act”) and that such members intended
to submit their HSR filing on that date.

On September 18, 2024, the Board met with the Company’s management, Goldman Sachs and the Company’s outside counsel Cooley LLP (“Cooley”) to discuss,
among other matters, the Company’s ongoing engagement with Deep Track and the Board’s views regarding the Company’s
strategic plan, corporate governance and capital allocation strategy and plans.

On October 17, 2024, during one of
its regular meetings to consider strategic opportunities for the Company, a committee of the Board discussed with the
Company’s management, Goldman Sachs and Cooley, among other matters, the potential to implement a share repurchase program
in connection with the announcement of the Company’s third quarter earnings and certain related considerations,
including how such program would fit into a balanced capital allocation strategy including investments in HEPLISAV-B and the
Company’s internal pipeline, capital return and potential business development opportunities.

On October 22, 2024, Deep Track acquired 5,265,000 shares
of the Company’s common stock.

On October 24, 2024, Deep Track filed an amendment to
its Schedule 13D disclosing a 13.6