DYNAVAX TECHNOLOGIES CORP — Director's Dealing 2012

Jan 27, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DYNAVAX TECHNOLOGIES CORP (DVAX)
CIK: 0001029142
Period of Report: 2012-01-26

Reporting Person: KISNER DANIEL L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-26	Common Stock	M	5000	$2.02	Acquired	5000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-26	Stock Options	$2.02	M	5000	Disposed	2020-07-21	Common Stock (5000)	Direct

Footnotes

F1: This option vests in equal installments over four years from July 22, 2010.

F2: On Janury 26, 2012, Dr. Kisner, a non-employee director, exercised his vested non-qualified stock options for cash. No shares were sold into the market in conjunction with this exercise. As a result of this exercise, Dr. Kisner increased his holdings in the Company's common stock.