Company: DVAX
Filing Date: 2025-04-03
Form Type: PREC14A
Source: 0000930413-25-001153
Chunk: 77

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-03
Form: PREC14A
Chunk 77
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 2002, if we are required as a result of misconduct to restate our
financial results due to our material noncompliance with any financial reporting requirements under the federal securities laws, our chief
executive officer and chief financial officer may be legally required to reimburse us for any bonus or other incentive-based or equity-based
compensation they previously received.

Compensation-Setting Process

Role of the Compensation Committee and Management

The Compensation Committee oversees and administers
our executive compensation programs. The Compensation Committee acts pursuant to a charter adopted by our Board, which can be found in
the investors section of our website, www.dynavax.com under investors-corporate governance. The Compensation Committee approves the compensation
of our NEOs other than our Chief Executive Officer, and the independent members of our Board, upon recommendation from the Compensation
Committee, approve the compensation of our Chief Executive Officer. References in this Compensation Discussion and Analysis to our Board
approving our Chief Executive Officer’s compensation refer to the independent members of our Board.

The Compensation Committee recommends, and the Board
approves, our corporate goals each year. The Compensation Committee also reviews and approves the individual goals, where applicable,
for our NEOs after considering the Chief Executive Officer’s recommendations on these matters. The Compensation Committee annually
reviews the base salaries, short-term cash incentive opportunities and equity compensation of our NEOs and periodically reviews other
elements of our compensation programs. Compensation decisions are based primarily on the following:

| • | Peer and Industry Data — The Compensation Committee uses peer and industry data provided by its compensation consultant                  
 as points of reference in setting base salaries and target cash compensation, as well as in determining appropriate levels and mix       
 of equity compensation and determining the type and portion of compensation tied to corporate and individual performance goals.          |
| • | Annual Performance Reviews — The Chair of the Compensation Committee conducts annual performance reviews of our                          
 Chief Executive Officer taking into consideration feedback obtained during the course of the year from the independent members of        
 our Board and the Chief Executive Officer’s direct reports. Our Chief Executive Officer conducts and presents the performance            
 reviews of the other NEOs to the Compensation Committee after the end of each fiscal year. In reviewing and determining the compensation 
 of each NEO, the Compensation Committee also considers individual factors, such as potential for future contributions to Company         
 growth, industry experience and retention concerns.                                                                                      |
| • | Recommendations of the Chief Executive Officer — The Compensation Committee seeks input from our Chief Executive                         
 Officer in setting the salary, target cash compensation