EMERYVILLE, Calif., April 5,
2022 /PRNewswire/ -- Dynavax Technologies Corporation
(Nasdaq: DVAX) today reported that it has granted restricted stock
units (RSUs) covering an aggregate of 28,250 shares of Dynavax
common stock as inducements to 5 newly-hired employees in
connection with commencement of employment with the Company.
The stock options were granted on April
1, 2022, at an exercise price of $11.26 per share, which is equal to the closing
price of Dynavax common stock on the date of grant. The RSUs vest
one-third per year on each anniversary of the grant date, subject
to continued service with Dynavax. The RSUs were granted as
material inducements to employment in accordance with Nasdaq
Listing Rule 5635(c)(4) and are subject to the terms and conditions
of an award agreement covering the grant and Dynavax' 2021
Inducement Award Plan, which was adopted January 9, 2021, and
provides for the granting of RSUs to new employees.
About Dynavax
Dynavax is a commercial stage
biopharmaceutical company developing and commercializing novel
vaccines to help protect the world against infectious diseases. The
Company's first commercial product, HEPLISAV-B® [Hepatitis B
Vaccine (Recombinant), Adjuvanted], is approved in the U.S. and the
European Union 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 adjuvant as a premier vaccine
adjuvant through research collaborations and partnerships. Current
collaborations are focused on adjuvanted vaccines for COVID-19,
plague, shingles, Tdap, seasonal influenza and universal
influenza. For more information, visit www.dynavax.com and
follow the company on LinkedIn.
Contacts:
Nicole Arndt,
Investor Relations and Corporate Communications
narndt@dynavax.com
510-665-7264
Derek Cole, President
Investor Relations Advisory Solutions
derek.cole@IRadvisory.com
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SOURCE Dynavax Technologies