Dynavax Announces New Employment Inducement Awards
BERKELEY, CA, Apr 09, 2010 (MARKETWIRE via COMTEX News Network) -- Dynavax Technologies Corporation (NASDAQ: DVAX) reported that equity awards were made to two new employees under the Company's 2010 Employment Inducement Award Plan ("the 2010 Plan"). The employees are focused on clinical and commercial development. Dynavax's Board of Directors adopted the 2010 Plan to grant equity awards as a material inducement to new employees. NASDAQ Marketplace Rule 5635(c)(4) requires a public announcement to be issued when awards are made under the 2010 Plan. The employees were granted options to purchase an aggregate of 235,000 shares of the Company's common stock, a portion of which vest over four years and the remainder upon achievement of specified performance objectives. No officers received any awards under this plan. The exercise price for the option shares granted is $1.36, which was the closing price of Dynavax common stock on the date of grant.
About Dynavax
Dynavax Technologies Corporation, a clinical-stage biopharmaceutical company, discovers and develops novel products to prevent and treat infectious diseases. The Company's lead product candidate is HEPLISAV, an investigational adult hepatitis B vaccine designed to enhance protection more rapidly and with fewer doses than current licensed vaccines. For more information visit www.dynavax.com.
Contact: Michael Ostrach Vice President and Chief Business Officer 510-665-7257 Email Contact
SOURCE: Dynavax Technologies Corporation
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