Glass Lewis Backs Deep Track's Push for Board Change at Dynavax Technologies Ahead of Shareholder Meeting

Reuters

2025/06/04

Glass Lewis Backs Deep Track's Push for Board Change at Dynavax Technologies Ahead of Shareholder Meeting

Dynavax Technologies Corporation is facing increased shareholder activism as it approaches its upcoming shareholder meeting. Deep Track Capital, one of the company's shareholders, has been advocating for significant changes in the boardroom, urging shareholders to elect Brett Erkman and Donald Santel to the board. Proxy advisory firm Glass Lewis has supported Deep Track's call for change, recommending that shareholders vote against Chairman Scott Myers and Director Brent MacGregor. Glass Lewis has raised concerns about Dynavax's strategic direction and capital allocation practices, describing them as excessively conservative. The firm has also noted the board's limited responsiveness to shareholder feedback. Deep Track argues that electing its nominees will prioritize shareholder interests and enhance the company's potential. The outcome of the shareholder meeting could lead to a reshaping of the board's composition and strategic approach.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Dynavax Technologies Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20250604370231) on June 04, 2025, and is solely responsible for the information contained therein.

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