EMERYVILLE, Calif.,
March 1, 2021 /PRNewswire/
-- Dynavax Technologies Corporation (Nasdaq: DVAX) today
reported that in connection with the commencement of Ms.
MacDonald's employment with the Company as Senior Vice President
and Chief Financial Officer on March 1, 2021, the Company
granted her a non-statutory stock option to purchase 350,000 shares
of Dynavax common stock. In addition, it also granted
nonstatutory stock options to purchase an aggregate of 74,300
shares of Dynavax common stock as inducements to four
newly-hired employees in connection with commencement of their
employment with the Company.
The stock options have a 7-year term and vests over three years,
with one-third of the shares underlying the option vesting on the
one-year anniversary of the grant date, and the remaining shares
vesting 1/36 per month in equal installments, subject to each
employee's continued employment with Dynavax through the applicable
vesting dates. The stock options were granted with an exercise
price of $8.90 per share, which is
equal to the closing price of Dynavax common stock on the date of
grant, and were provided as a material inducement to each
employee's employment in accordance with Nasdaq Listing Rule
5635(c)(4). The options are subject to the terms and conditions of
a stock option agreement covering the grant, and Dynavax' 2021
Inducement Award Plan, which was adopted January 9, 2021 and
provides for the granting of stock options to new employees.
About Dynavax
Dynavax is a commercial stage
biopharmaceutical company developing and commercializing novel
vaccines. The Company's first commercial product, HEPLISAV-B®
[Hepatitis B Vaccine (Recombinant), Adjuvanted], is approved in
the U.S. for prevention of infection caused by all known
subtypes of hepatitis B virus in adults age 18 years and
older. Dynavax is also advancing CpG 1018 as a premier
vaccine adjuvant through research collaborations and partnerships.
Current collaborations are focused on adjuvanted vaccines for
COVID-19, pertussis and universal influenza. For more information,
visit www.dynavax.com and follow the company
on LinkedIn.
Dynavax Contacts:
Nicole
Arndt, Senior Manager, Investor Relations
narndt@dynavax.com
510-665-7264
Derek Cole, President
Investor Relations Advisory Solutions
derek.cole@IRadvisory.com
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SOURCE Dynavax Technologies