Company: PACB
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001299130-25-000090
Chunk: 73

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 73
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 the Compensation Committee determined that Aon’s work for the Compensation Committee did not raise any conflicts of interest, and that Aon is independent. Aon’s work has conformed to the independence factors and guidance provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Nasdaq and the SEC.

| 2025 Proxy Statement |     | 54 |

TABLE OF CONTENTS

Use of Market Data and Peer Group Analysis

In making compensation decisions for our executive officers, including determining the various key elements of compensation for our NEOs, our Compensation Committee develops and approves a peer group from which to derive certain relevant market data to assist it in the review of the Company’s executive compensation. The Compensation Committee believes that the use of a peer group enables it to be better informed about compensation practices and thereby allows the Company to provide compensation that more effectively helps achieve its recruiting, retention and incentive objectives in a highly competitive market for talent.

In October 2023, the Compensation Committee engaged Aon to assist in reviewing the compensation peer group and to determine whether any changes should be made to the peer group when setting 2024 compensation for the NEOs (the “Peer Group”). Upon consultation with Aon and a review of market and peer practices, the Compensation Committee set the following criteria for consideration:

• Industry — primary emphasis on publicly-traded, US-based sequencing and diagnostic companies

• Revenues — a range of approximately $100 million to $860 million

• Market Capitalization — a range of approximately $900 million to $9 billion

Using these criteria, the Compensation Committee approved the following 15 companies as our Peer Group:

| 10x Genomics, Inc.                   |     | Cytek Biosciences, Inc. |     | NeoGenomics, Inc.            |
| AbCellera Biologics Inc.             |     | Fulgent Genetics, Inc.  |     | Quanterix Corporation        |
| Adaptive Biotechnologies Corporation |     | Ginkgo Bioworks, Inc.   |     | Repligen Corporation         |
| Azenta, Inc.                         |     | Guardant Health, Inc.   |     | Twist Bioscience Corporation |
| Castle Biosciences, Inc.             |     | Myriad Genetics, Inc.   |     | Veracyte, Inc.               |

The Peer Group differed from our previous peer group as follows: Each of Axonics, Inc., CareDx, Inc., Inspire Medical Systems, Inc., and i