David F. Novack - 01 Sep 2023 Form 4 Insider Report for DYNAVAX TECHNOLOGIES CORP (DVAX)

Role
President & COO
Signature
/s/ David Novack
Issuer symbol
DVAX
Transactions as of
01 Sep 2023
Net transactions value
-$181,200
Form type
4
Filing time
05 Sep 2023, 17:05:32 UTC
Previous filing
10 Aug 2023
Next filing
04 Oct 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DVAX Common Stock Options Exercise $108,400 +20,000 +628% $5.42 23,187 01 Sep 2023 Direct F1
transaction DVAX Common Stock Sale $289,600 -20,000 -86% $14.48 3,187 01 Sep 2023 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DVAX Stock Option (Right to Buy) Options Exercise -20,000 -16% 109,000 01 Sep 2023 Common Stock 20,000 $5.42 Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 The sales reported on this Form 4 were effected pursuant to a 10b5-1 trading plan adopted on May 5, 2023.
F2 This transaction was executed in multiple trades at prices ranging from $14.40 to $14.55; the price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, Dynavax, or a security holder of Dynavax
F3 This option grant will vest over three (3) years with one third (1/3) of the shares subject to the option vesting twelve months after the grant date of February 12, 2020, and one thirty-sixth (1/36) of the shares subject to the option vesting on the last day of each month thereafter, providing further that the options are subject to approval by our stockholders of an increase in the number of shares available under the 2018 Equity Incentive Plan.
F4 Not applicable.