Company: PCRX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041219
Chunk: 42

Company: Pacira BioSciences, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 42
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 an initial grant of 692,512 stock options and a restricted stock unit grant for 99,520 shares of the Company’s common stock. He is entitled to participate in the Company’s other benefit programs generally available to employees of the Company. 2024 CEO Compensation Components This chart represents the target values granted to Frank D. Lee, who began serving as our CEO on January 2, 2024. Actual amounts earned during 2024 can be found in the “Summary Compensation Table” on page 77. The chart below excludes a $900,000 one-time lump sum relocation payment to cover Mr. Lee’s reasonable costs and expenses associated with his relocation from Massachusetts to California as it is not a targeted or ongoing component of Mr. Lee’s compensation. OVERALL REASONABLE EXECUTIVE COMPENSATION PROGRAM Our People & Compensation Committee seeks to ensure that our compensation program is aligned with the interests of our stockholders, promotes the attainment our business goals and that the total compensation paid to each of our named executive officers is fair, reasonable and competitive. The People & Compensation Committee, as part of its thorough oversight on behalf of the board, evaluates the compensation of our named executive officers holistically, which considers the appropriate mix of base salary, annual incentive bonuses, cash LTIP targets and equity awards, and has determined that the targeted total compensation of our named executive officers is within the range of the competitive market. These elements are designed to incentivize and reward our executives 54 | investor.pacira.com TABLE OF CONTENTS Executive Compensation for the achievement of challenging performance objectives tied to important corporate milestones and increases in stockholder value over time. Annual Incentive Bonuses The People & Compensation Committee believes that annual incentive bonuses that are awarded to our named executive officers based on Company and individual performance goals provide our named executive officers additional incentive to outperform our goals, including our goal of increasing stockholder value, and ensure that we attract and retain talented named executive officers. Each year, the People & Compensation Committee establishes a target annual incentive award for each named executive officer expressed as a percentage of the executive’s base salary, based on results of Aon’s comparative assessment regarding annual incentive award targets for comparable positions at peer companies, the estimated contribution and responsibility of the individual named executive officer and market practices. These annual incentive bonuses are short-term and variable in nature and are separate from amounts earned under the cash LTIP, as discussed below. In 2024, the People & Compensation Committee approved the Company factor for annual incentive bonuses at 90%