Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 242

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 242
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 three-year period contingent upon continuous service and unless exercised, expire seven or ten years from the date of grant (or earlier upon termination of continuous service). Activity under the Plan is set forth below:Stock Options The following table summarizes the activity of stock options for the three months ended March 31, 2025: SharesUnderlyingOutstandingOptions(in thousands)Weighted-AverageExercisePrice Per ShareWeighted-AverageRemainingContractualTerm (years)AggregateIntrinsicValue (in thousands)Balance as of December 31, 202411,142$11.15 3.79$24,210 Options granted1,60212.72 Options exercised(670)— Options cancelled:Options forfeited (unvested)(54)12.11 Options expired (vested)(586)16.36 Balance as of March 31, 202511,434$11.19 4.20$24,326 Vested and expected to vest as of March 31, 202511,171$11.15 4.13$24,227 Exercisable as of March 31, 20257,942$10.67 3.30$22,124 Restricted Stock UnitsThe following table summarizes the activity of RSUs for the three months ended March 31, 2025: Number of Shares (in thousands) Weighted-Average Grant-Date Fair Value Per ShareNon-vested as of December 31, 20245,363$12.15 Granted2,62812.70 Vested (1)(2,034)12.13 Forfeited(96)11.96 Non-vested as of March 31, 20255,861$12.40 (1)Inclusive of approximately 775,571 RSUs for the three months ended March 31, 2025, which were not converted into shares due to net share settlement in order to cover the required amount of employee withholding taxes. The value of the withheld shares was classified as a reduction to additional paid-in capital.

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Market-based Performance Stock UnitsWe granted market-based performance restricted stock units (“PSUs”) to certain executives. These PSUs vest upon a specified market condition. The summary of PSU activities for the three months ended March 31, 2025 is as follows:  Number of Shares (in thousands)Weighted-Average Grant-Date Fair Value Per ShareNon-