Company: DVAX
Filing Date: 2025-04-15
Form Type: PRER14A
Source: 0000930413-25-001254
Chunk: 50

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-15
Form: PRER14A
Chunk 50
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 the Audit Committee (under the amended Non-Employee Director Compensation Policy, which became effective in January 2025 
 (“Amended Director Compensation Policy”), this annual retainer increased to  $25,000 for the Chair of the Audit             
 Committee and $12,500 for each additional member of the Audit Committee);                                                   |
| • | A $15,000 annual retainer for the Chair of the Compensation Committee and a $7,000 annual retainer for each additional      
 member of the Compensation Committee (under the Amended Director Compensation Policy, this annual retainer increased to     
 $20,000 for the Chair of the Compensation Committee and $10,000 for each additional member of the Compensation Committee);  
 and                                                                                                                         |
| • | A $10,000 annual retainer for the Chair of the Nominating and Corporate Governance Committee and $5,000 annual retainer     
 for each additional member of the Nominating and Corporate Governance Committee.                                            |

Cash compensation is paid on a quarterly basis, in advance, except that for new appointments (whether to
the Board or to a committee seat not previously held) the fees for that quarter are pro-rated based on the actual number of days
served during such quarter. We also reimburse our non-employee directors for their reasonable expenses incurred in attending meetings
of our Board and committees of our Board.

EQUITY COMPENSATION

The below summarizes our equity compensation
program during 2024 for non-employee directors under the Director Compensation Policy:

| • | Each new director automatically receives an initial equity award (“Initial Grant”) upon                                           
 the date each such person is elected or appointed to the Board that vests in equal annual installments over three years, provided 
 the director continues to provide services to us through each vesting date;                                                       |
| • | The Initial Grant consists of a non-qualified stock option and an RSU, together equal to the stock option equivalent of           
 60,000 shares of our common stock (under the Amended Director Compensation Policy, the Initial Grant decreased such that the      
 Initial Grant consists of a non-qualified stock option and an RSU, together equal to the stock option equivalent of 57,000        
 shares of our common stock);                                                                                                      |
| • | On the date of each annual meeting of our stockholders, each non-employee director automatically receives a subsequent            
 equity award (“Subsequent Grant”) that vests in full on the one-year anniversary of the grant date, provided the                  
 director continues to provide services to us