EMERYVILLE, Calif.,
Sept. 2, 2021 /PRNewswire/
-- Dynavax Technologies Corporation (Nasdaq: DVAX) today
reported that it has granted nonstatutory stock options to purchase
an aggregate of 224,000 shares of Dynavax common stock as
inducements to 8 newly-hired employees in connection with
commencement of employment with the Company.
The stock options were granted on September 1, 2021 at an exercise price of
$19.00 per share, which is equal to
the closing price of Dynavax common stock on the date of grant.
Each stock option granted has 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
continued service with Dynavax through the applicable vesting
dates. The options were granted as a material inducement to
employment in accordance with Nasdaq Listing Rule 5635(c)(4) and
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. 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, 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