Dynavax (DVAX) director’s RSUs and options cashed out at $15.50 in SANOFI merger
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Dynavax Technologies director Francis Cano reported automatic changes to his equity on February 10, 2026, tied to the company’s merger with SANOFI. SANOFI’s subsidiary completed a tender offer to acquire all Dynavax common shares for $15.50 per share in cash, then merged into Dynavax, which became an indirect wholly owned subsidiary.
At the merger’s effective time, all restricted stock units held by Cano were cancelled and converted into a cash right equal to the shares underlying each award multiplied by the $15.50 offer price. His stock options first became fully vested, then were cancelled and converted into cash equal to the number of option shares multiplied by the excess of the $15.50 offer price over each option’s exercise price.
Positive
- None.
Negative
- None.
Insider Trade Summary
7 transactions reported
Mixed
7 txns
Insider
CANO FRANCIS
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (Right to Buy) | 25,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 25,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 22,500 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 22,500 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 22,500 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 28,500 | $0.00 | -- |
| Disposition | Common Stock - Restricted Stock Units | 42,663 | $0.00 | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 0 shares (Direct);
Common Stock - Restricted Stock Units — 0 shares (Direct)
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.
FAQ
What does the DVAX Form 4 for Francis Cano report?
The Form 4 reports automatic cancellation and cash settlement of Francis Cano’s Dynavax equity on merger closing. His restricted stock units and stock options were converted into cash rights based on a $15.50 per-share offer price under the merger agreement with SANOFI.
What corporate transaction triggered the equity changes reported for DVAX?
The changes were triggered by a merger under an Agreement and Plan of Merger among Dynavax, SANOFI, and Samba Merger Sub. SANOFI’s subsidiary first completed a tender offer, then merged into Dynavax, which survived as an indirect wholly owned subsidiary of SANOFI.