{"id":858405,"date":"2025-06-09T07:34:20","date_gmt":"2025-06-09T11:34:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/dynavax-urges-stockholders-to-support-its-director-nominees-at-june-11-annual-meeting\/"},"modified":"2025-06-09T07:34:20","modified_gmt":"2025-06-09T11:34:20","slug":"dynavax-urges-stockholders-to-support-its-director-nominees-at-june-11-annual-meeting","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/dynavax-urges-stockholders-to-support-its-director-nominees-at-june-11-annual-meeting\/","title":{"rendered":"Dynavax Urges Stockholders to Support Its Director Nominees at June 11 Annual Meeting"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n Dynavax’s Strategy is Delivering Significant Long-Term Stockholder Value<\/i>\n <\/p>\n

\n Dynavax’s Nominees Are Vastly Superior to Deep Track’s Candidates Across Every Critical Area<\/i>\n <\/p>\n

\n Follow Recommendations of Proxy Advisory Firms ISS and Egan-Jones and Vote “FOR”<\/b> All Four of\u00a0Dynavax’s Director Nominees on the GOLD<\/b> Proxy Card Today<\/b><\/i>\n <\/p>\n

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\n EMERYVILLE, Calif.<\/span>
\n <\/span>, June 9, 2025<\/span><\/span> \/PRNewswire\/ — Dynavax Technologies Corporation\u00a0(Nasdaq: DVAX) (“Dynavax” or the “Company”), a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines, today issued the following statement reiterating to stockholders its recommendation to vote “FOR” all four of Dynavax’s highly qualified directors standing for election \u2013 Brent MacGregor<\/span>, Scott Myers<\/span>, Lauren Silvernail<\/span> and Elaine Sun<\/span> \u2013 at the Company’s upcoming Annual Meeting of Stockholders on June 11, 2025<\/span> (the “2025 Annual Meeting”).<\/p>\n

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\n \"(PRNewsfoto\/Dynavax
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Since 2019, Dynavax has successfully executed a strategic repositioning of our business, and our refreshed Board is executing a plan that is delivering significant stockholder value. In direct contrast, Deep Track \u2013 which has no experience developing and executing corporate strategy, operations, or finance \u2013 is insistent on implementing its strip-mining plan for Dynavax, jeopardizing a strong platform with significant long-term growth opportunities for a near-term payoff of a considerably lower value. Simply put: there is no case for change, and changing course to Deep Track’s purported plan will destroy long-term value and is not in the best interests of all stockholders. <\/b><\/p>\n

Re-electing all four of our nominees is essential to our ability to continue driving value for all stockholders. Without Brent MacGregor<\/span>, Scott Myers<\/span>, Lauren Silvernail<\/span> and Elaine Sun<\/span>, the Board would be deprived of essential strategic leadership, vaccine expertise, senior public biotechnology and M&A experience, as well as deep industry financial expertise \u2013 qualifications that none of Deep Track’s candidates can adequately match. Deep Track’s principal, Brett Erkman<\/span>, is beholden to his own hedge fund investors \u2013 not our stockholders \u2013 and has demonstrated an inability to be open-minded. Donald Santel<\/span> lacks vaccine industry experience and his public company executive experience ended ten years ago. In short, Deep Track’s nominees are far less qualified than all of our current directors. \u00a0<\/p>\n

\n Make no mistake \u2013 Deep Track is attempting to gain control of Dynavax to implement its flawed plan, which would be detrimental to the long-term value we are generating for our stockholders. <\/b>\n <\/p>\n

Independent proxy advisory firms Institutional Shareholder Services (“ISS”) and Egan-Jones agree and recommend that stockholders support all of Dynavax’s director nominees. ISS noted that Deep Track has failed to present a compelling case for change and called attention to Deep Track’s cherry picked and highly misleading materials throughout its campaign \u2013 “There are serious concerns with the dissident’s presentation of TSR\u2026The dissident’s attempt to suggest otherwise through a blatantly distorted TSR analysis has only diminished its credibility.”<\/i>1<\/sup> Glass, Lewis & Co. (“Glass Lewis”) acknowledged the significant stockholder returns we have been generating, our differentiated capital allocation plan, and the meaningful refreshment and high caliber Board we have in place. Perhaps most importantly, Glass Lewis put a fine point on the legitimate concerns stockholders should have in electing Mr. Erkman to the Board \u2013 noting that “his fiduciary experience in a boardroom setting remains untested”<\/i> and “may raise legitimate questions about Mr. Erkman’s ability to balance Deep Track’s position with the broader interests of all shareholders.”<\/i>2<\/sup><\/p>\n

Here’s why we encourage you to vote for ALL four of Dynavax’s nominees:<\/p>\n