David Novack, President & COO of Dynavax Technologies Corporation (DVAX +0.00%), exercised 114,000 stock options and immediately sold the resulting shares for a transaction value of approximately $1.8 million, according to the SEC Form 4 filing. Transaction summaryMetric Value Shares sold (direct) 114,000 Transaction value $1.8 million Post-transaction shares (direct) 63,344 Post-transaction value (direct ownership) ~$989,433.28Key questionsHow significant was the reduction in David Novack's stake following this transaction? The sale brings his position down to 63,344 shares, which equates to 0.05% of the company's outstanding shares as of Jan. 24, 2026. This event involved the exercise of 114,000 stock options, with all resulting shares immediately sold in the open market, reflecting a full conversion from options to common stock without retention of new shares. This event involved the exercise of 114,000 stock options, with all resulting shares immediately sold in the open market, reflecting a full conversion from options to common stock without retention of new shares.