DYNAVAX TECHNOLOGIES CORP — Director's Dealing 2012

May 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DYNAVAX TECHNOLOGIES CORP (DVAX)
CIK: 0001029142
Period of Report: 2012-05-01

Reporting Person: OSTRACH MICHAEL S (VP, CBO, and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-01	Common Stock	M	37505	$0.54	Acquired	75497	Direct
2012-05-01	Common Stock	M	23275	$1.58	Acquired	98772	Direct
2012-05-01	Common Stock	F	11052	$5.16	Disposed	87720	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-01	Stock Options	$0.54	M	37505	Disposed	2019-03-09	Common Stock (37505)	Direct
2012-05-01	Stock Options	$1.58	M	23275	Disposed	2020-02-18	Common Stock (23275)	Direct

Footnotes

F1: On May 1, 2012, Mr. Ostrach exercised certain of his outstanding options to purchase 60,780 shares. As consideration for the purchase price, Mr. Ostrach delivered 11,052 shares to the Company. No shares were sold in the market in connection with this exercise.

F2: Options vested as to shares being exercised.

F3: Not applicable.