Company: DVAX
Filing Date: 2025-04-15
Form Type: PRER14A
Source: 0000930413-25-001254
Chunk: 11

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-15
Form: PRER14A
Chunk 11
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 the Board and committees                                                                               
 •     Ongoing stockholder engagement efforts,                                                                                  
 including over 300 meetings with investors and analysts, including 90% of our top 10 actively managed stockholders in 2024 and 
 with over 80 investors and analysts in the first quarter of 2025                                                               |
| Strong Governance Practices                                                                                             |     | Stockholder Rights                                                                                                             |
| •     Regular executive sessions of independent directors                                                               
 •     Board and committees may engage outside advisors independently of management                                      
 •     Annual advisory stockholder vote on executive compensation                                                        
 •     Incentive compensation recoupment “clawback” policy on performance-based cash and equity incentives               |     | •     Majority vote policy applicable to uncontested elections of directors as discussed in more detail in the section         
 entitled “Proposal 1 - Majority Vote Policy” in this proxy statement                                                           
 •     Seeking stockholder approval to declassify the Board on a phased basis                                                   
 •     Existing limited duration stockholders rights plan will be allowed to expire by its terms at the Annual Meeting          |

<div align='center'>2024 Business Highlights</div>

We believe that 2024 was another highly transformative
year for Dynavax, where we made substantial progress against our core strategic priorities. During the 2024 performance year and early
2025, we achieved the following in connection with our core priorities described further below:

Drive Growth of HEPLISAV-B [Hepatitis B Vaccine (Recombinant), Adjuvanted]

| • | To further leverage the CDC’s Advisory Committee on Immunization Practices (“ACIP”) recommendation                                
 that all adults aged 19-59 should be vaccinated against hepatitis B (“ACIP Recommendation”), during 2024, we refined              
 our sales approach as well as our targeting and marketing efforts, and realigned our sales organization to focus on expanding our 
 market share in integrated delivery networks and large clinics (“IDNs”) and retail pharmacy, two of the largest and fastest       
 growing segments we market to.                                                                                                    |
| • | These efforts resulted in total market share growth over the year, increasing HEPLISAV-B share of the total U.S. adult market     
 to approximately 44%, compared to approximately 42% at the end of 2023, and demonstrated progress towards achieving our goal      
 of 60% market share by 2030.                                                                                                      |
| • | HEPLISAV-B market share gains, coupled with hepatitis B market expansion, drove HEPLISAV-B net