Dynavax (DVAX) director’s RSUs and options cashed out in Sanofi buyout
Rhea-AI Filing Summary
Dynavax Technologies director Lauren Silvernail reported the cash-out of her equity awards in connection with the company’s acquisition by Sanofi. Sanofi’s subsidiary completed a tender offer for all Dynavax common shares at $15.50 per share in cash and then merged into Dynavax on February 10, 2026, leaving Dynavax as an indirect wholly owned subsidiary.
At the merger’s effective time, 10,075 restricted stock units held by Silvernail were cancelled and converted into the right to receive cash equal to the shares underlying the RSUs multiplied by the $15.50 offer price. Two stock option grants covering 42,750 and 7,125 Dynavax shares first became fully vested, then were cancelled and converted into cash based on the number of underlying shares and the excess of the $15.50 offer price over each option’s exercise price. Following these transactions, the Form 4 shows 0 units and 0 options remaining beneficially owned.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (Right to Buy) | 42,750 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 7,125 | $0.00 | -- |
| Disposition | Common Stock - Restricted Stock Units | 10,075 | $0.00 | -- |
Footnotes (1)
- This Form 4 reports securities transacted pursuant to the Agreement and Plan of Merger (the "Merger Agreement") by and among the Issuer, SANOFI, a French societe anonyme ("Parent"), and Samba Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent ("Purchaser"). Pursuant to the Merger Agreement, Purchaser completed a tender offer to acquire all of the issued and outstanding shares of common stock of the Issuer, par value $0.001 per share (the "Common Stock"), for $15.50 per share (the "Offer Price"), in cash, without interest and subject to any applicable withholding of taxes. On February 10, 2026, Purchaser merged with and into the Issuer, with the Issuer surviving as an indirect wholly owned subsidiary of Parent (the effective time of such merger, the "Effective Time"). Pursuant to the terms of the Merger Agreement, at the Effective Time, each restricted stock unit ("RSU") award that was outstanding as of immediately prior to the Effective Time held by the Reporting Person, whether vested or unvested, was cancelled and converted into the right to receive cash in an amount equal to (i) the number of shares issuable in settlement of such RSU award immediately prior to the Effective Time without regard to vesting, multiplied by (ii) the Offer Price. Pursuant to the terms of the Merger Agreement, (i) each stock option that was outstanding as of immediately prior to the Effective Time held by the Reporting Person became fully vested immediately prior to the Effective Time, and (ii) at the Effective Time, each stock option that was outstanding as of immediately prior to the Effective Time was cancelled and converted into the right to receive cash in an amount equal to (i) the number of shares subject to such stock option immediately prior to the Effective Time, without regard to vesting, multiplied by (ii) the excess of the Offer Price over the exercise price per share of such stock option.
