Dynavax Technologies Announces Appointment of New Directors and Director Resignations

On January 26, 2025, Dynavax Technologies Corporation (NASDAQ: DVAX) made important announcements regarding changes in its Board of Directors. The Board of Directors appointed Lauren Silvernail as a Class I Director and Emilio Emini, Ph.D. as a Class III Director. Both appointments are effective as of February 3, 2025, and will continue until their successors are elected. Ms. Silvernail is set to serve until the 2025 Annual Meeting of Stockholders, while Dr. Emini will serve until the 2027 Annual Meeting of Stockholders.

As per the company’s non-employee director compensation policy, Ms. Silvernail and Dr. Emini were granted an initial allotment of 51,386 shares each, consisting of 42,750 stock options and 8,636 restricted stock units. The shares will be granted under Dynavax’s 2018 Equity Incentive Plan and will vest over three years. Additionally, both new directors will receive an annual cash retainer for their service on the Board and Audit Committee.

Furthermore, Peggy V. Phillips and Julie Eastland, members of the Board, tendered resignations effective immediately prior to the 2025 Annual Meeting. Their decisions to step down were stated not to be due to any disagreements with the company.

In another update, the Company’s Amended and Restated Bylaws were amended to increase the authorized number of directors to eleven (11) to accommodate the new appointments, with subsequent reduction to nine (9) following the retirements and resignations.

Dynavax Technologies also disclosed that Ms. Silvernail and Dr. Emini will be covered by the company’s indemnification agreement, providing indemnity for certain expenses in connection with claims related to their service as directors, to the extent permitted by law.

These changes mark significant shifts within the Board of Directors at Dynavax Technologies and reflect the company’s commitment to ensuring effective governance practices and retaining top talent in leadership positions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Dynavax Technologies’s 8K filing here.

Dynavax Technologies Company Profile

Dynavax Technologies Corporation, a commercial stage biopharmaceutical company, focuses on developing and commercializing vaccines in the United States. It markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in age 18 years and older in the United States and Europe.