Dynavax Technologies Corporation (Nasdaq: DVAX) today reported that it has granted nonstatutory stock options to purchase an aggregate of 7,500 shares of Dynavax common stock as inducements to one newly-hired employee in connection with commencement of employment with the Company.
| EMERYVILLE, Calif., Feb. 3, 2021 /PRNewswire/ -- Dynavax Technologies Corporation (Nasdaq: DVAX) today reported that it has granted nonstatutory stock options to purchase an aggregate of 7,500 shares of Dynavax common stock as inducements to one newly-hired employee in connection with commencement of employment with the Company.
The stock options were granted on February 1, 2021 at an exercise price of $10.27 per share, which is equal to the closing price of Dynavax common stock on the date of grant. Each stock option granted has a 7-year term and vests over three years, with one-third of the shares underlying the option vesting on the one-year anniversary of the grant date, and the remaining shares vesting 1/36 per month in equal installments, subject to continued employment with Dynavax through the applicable vesting dates. The options were granted as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4) and are subject to the terms and conditions of a stock option agreement covering the grant and Dynavax’ 2021 Inducement Award Plan, which was adopted January 9, 2021 and provides for the granting of stock options to new employees. About Dynavax Dynavax Contacts: Derek Cole, President
SOURCE Dynavax Technologies | ||
Company Codes: NASDAQ-SMALL:DVAX |
View original content to download multimedia:
