KISNER DANIEL L 4

What Happened

• Daniel L. Kisner, a director of Dynavax Technologies Corp. (DVAX), disposed of a total of 184,329 shares/award units on Feb 10, 2026 in connection with the company’s acquisition by Sanofi. Transactions include common-stock tender(s) and the cancellation/conversion of RSUs and stock options into cash under the merger agreement. The tender/offer price was $15.50 per share.
• If every unit were settled at the full offer price, the gross consideration would be about $2.86 million (184,329 × $15.50). Note: stock-option payouts are calculated as (Offer Price − exercise price) × number of option shares, so the actual cash received for option conversions will be lower and depends on their exercise prices.

Key Details

• Transaction date: February 10, 2026 (Effective Time of the merger).
• Report filed: Form 4 dated/period 2026-02-10 (filed the same day).
• Total units disposed/tendered: 184,329 (includes 1,500 reported as change-of-control disposition and multiple dispositions to the issuer for common shares, RSUs and option conversions).
• Consideration: Offer price stated in Merger Agreement = $15.50 per share; RSUs converted at $15.50/share; options converted to cash equal to (15.50 − exercise price) per share.
• Shares/awards after transaction: Following the Effective Time, common shares were tendered and outstanding RSUs/options were cancelled/converted under the Merger Agreement, so the reporting person no longer holds those awards in the company.
• Footnotes: Transactions were made pursuant to the Agreement and Plan of Merger among Dynavax, Sanofi (Parent) and Purchaser. RSUs were cancelled and converted to cash; outstanding options fully vested immediately prior to the Effective Time and were cancelled and converted to cash as described above.
• Timeliness: Filing appears timely (Form 4 reports same effective date as the merger).

Context

• This activity is merger-driven, not an open-market sale or a voluntary buy/sell signal; RSUs and options were converted or cancelled per the deal terms.
• For options, the cash payout depends on each option’s exercise price; therefore the Form 4 lists share/unit counts rather than a single aggregate cash figure for options.