Biopharmaceutical company Dynavax Technologies Corporation (Nasdaq:DVAX) announced on Monday that it awarded non statutory stock options to one newly-hired employee as material inducement to employment and in accordance with Nasdaq Listing Rule 5635(c)(4).

The new employee received the non statutory stock options to purchase an aggregate of 115,000 shares of common stock from the company.

These stock options were granted at an exercise price of USD17.14 per share, which is equal to the closing price of the company's common stock on the date of grant as of 18 October 2021. Each stock option granted has a seven year term.

Subject to continued service with the company through the applicable vesting dates, each stock option 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.