EMERYVILLE, Calif.,
June 29, 2021 /PRNewswire/
-- Dynavax Technologies Corporation (Nasdaq: DVAX) today
announced that, in connection with the appointment of John
Slebir as Senior Vice President, General Counsel on
June 28, 2021, the Company granted
him a non-statutory stock option to purchase 300,000 shares of
Dynavax common stock.
The stock option 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 Mr.
Slebir's continued service with Dynavax through the applicable
vesting dates. The stock option was granted with an exercise price
of $9.29 per share, which is equal to
the closing price of Dynavax common stock on the date of grant, and
was provided as a material inducement to Mr. Slebir's employment in
accordance with Nasdaq Listing Rule 5635(c)(4). The option is
subject to the terms and conditions of a stock option agreement
covering the grant and Dynavax's 2021 Inducement Award Plan, which
was adopted on 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