Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 69

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 69
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-----|:----|:--------------|--------:|:----|:------------|:----|:---------------|:----|:-----------------|
| Ryan Spencer         |     | $             | 835,001 |     | 9.9%        |     | 75%            |     | 9.9%             |
| Kelly MacDonald      |     | $             | 522,000 |     | 9.9%        |     | 50%            |     | 9.9%             |
| David F. Novack      |     | $             | 593,108 |     | 4.0%        |     | 60%            |     | 4.0%             |
| John L. Slebir       |     | $             | 530,000 |     | 8.6%        |     | 50%            |     | 8.6%             |
| Robert Janssen, M.D. |     | $             | 542,291 |     | 4.0%        |     | 50%            |     | 4.0%             |

2024 Annual Cash Incentive Program – Structure, Goals and Payout Decision

Structure. Neither Mr. Spencer nor Mr. Novack had individual
goals separate from the Company’s corporate objectives for 2024. We believe that this aligned their incentive compensation fully
with the completion of corporate goals that measure business performance and are intended to drive long-term stockholder value. For our
other NEOs, their annual cash incentive payout is typically based on the achievement of pre-established corporate and individual goals.
Our Chief Executive Officer typically recommends individual goals for each of the other NEOs, which are aligned with our business strategy
and linked with corporate goals, and our Compensation Committee approves these goals. The individual goals for the NEOs are in addition
to the general responsibilities each officer has for managing his or her respective functional or operational area. In early 2024, the
Compensation Committee established corporate and, for NEOs other than Messrs. Spencer and Novack, individual goals to align NEO annual
cash incentive compensation with respective performance toward these goals. For 2024, Ms. MacDonald’s, Mr. Slebir’s and Dr.
Janssen’s respective annual cash incentive opportunity was based on a weighting of 80% corporate and 20% individual goals.

| 51 |

Our corporate goals included base goals and
stretch goals