SILVERNAIL LAUREN P 4

What Happened
Lauren P. Silvernail, a director of Dynavax Technologies Corp. (DVAX), disposed of a total of 59,950 shares on February 10, 2026 as part of the company’s merger with Sanofi. The disposals break down as 10,075 shares (common stock) and two derivative dispositions of 42,750 and 7,125 shares. Under the merger’s $15.50-per-share cash offer, the gross cash value of 59,950 shares is approximately $929,225. The Form 4 shows price fields as N/A because the shares and equity awards were cashed out per the Merger Agreement.

Key Details

• Transaction date: February 10, 2026 (Effective Time of the merger).
• Offer Price: $15.50 per share (per Merger Agreement); Form 4 lists N/A for price because payment was made under the merger terms.
• Shares disposed: 10,075 (common stock); 42,750 (derivative); 7,125 (derivative); total 59,950 shares.
• Approximate cash received: 59,950 × $15.50 = $929,225 (gross).
• Holdings after transaction: outstanding common shares and awards were converted/cancelled per the merger (the Purchaser acquired all issued and outstanding shares). The Form 4 reflects dispositions tied to the merger; it does not report ongoing public common-stock holdings remaining after the close.
• Notable footnotes: merger/tender offer by Sanofi; RSUs cancelled and converted to cash; outstanding options vested immediately pre-closing and were converted to cash equal to (shares × (Offer Price − exercise price)).
• Filing timeliness: Reported on 2026-02-10 (same-day filing for the transaction date).

Context
These were not open-market sales but cash-outs required by the Merger Agreement—RSUs and options were converted or cancelled and common shares were acquired by the buyer. Derivative entries reflect cash payments for cancelled RSUs/options (options were accelerated to vest immediately before being cashed out). This type of transaction reflects the corporate closing process rather than an independent trading decision by the insider.