Company: DVAX
Filing Date: 2025-04-17
Form Type: DEFC14A
Source: 0000930413-25-001273
Chunk: 68

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-17
Form: DEFC14A
Chunk 68
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 Chief Executive Officers at peer companies. For Ms. MacDonald, the Compensation Committee approved the
9.9% increase in total target cash compensation primarily due to performance achievement and its desire to make her compensation more
competitive with that of other Chief Financial Officers at peer companies.

The Compensation Committee approved increases for each of Mr. Novack
and Dr. Janssen that were intended to provide merit increases to keep their salaries competitive with their peers. The increases for each
of Mr. Novack and Dr. Janssen are representative of the longer tenures of Mr. Novack and Dr. Janssen as senior executives and the Compensation
Committee’s determination that their total compensation was previously market competitive.

| Name                 |     | 2024          
 (Base Salary) |         |     | % Increase  
 from Prior  
 Year Salary |     | 2024           
 (Target Bonus) |     | % Increase from  
 Prior Year Total 
 Cash Target      |
|:---------------------|:----|:--------------|--------:|:----|:------------|:----|:---------------|:----|:-----------------|
| 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 stock