Company: PCRX
Filing Date: 2025-01-30
Form Type: 8-K
Source: 0001396814-25-000022
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Company: Pacira BioSciences, Inc.
Filing Date: 2025-01-30
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Resignation of Directors

On January 28, 2025, Paul J. Hastings, Chair of the Board of Directors (the “ Board”), and Andreas Wicki, a member of the Board, each notified the Board of Pacira BioSciences, Inc. (the “ Company”) of his respective decision to resign as a member of the Board, in each case, effective immediately (together, the “ Resignations”). The Resignations were not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

Appointment of Board Chair

On January 28, 2025, as a result of Mr. Hastings’s resignation, the Board, upon recommendation of the Nominating, Governance and Sustainability Committee of the Board, appointed Laura Brege as Chair of the Board, effective as of immediately following the effectiveness of the Resignations.

Decrease of the Size of the Board

As a result of the Resignations, pursuant to the Amended and Restated Certificate of Incorporation of the Company (as amended to date, the “ Certificate of Incorporation”), and the Second Amended and Restated Bylaws of the Company (the “ Bylaws”), the Board approved a decrease of the size of the Board from twelve directors to nine directors, effective as of immediately following the effectiveness of the Resignations.

Reclassification of Directors

As a result of the Resignations and in accordance with the Certificate of Incorporation and the Bylaws, on January 28, 2025, the Board reclassified the membership of the Board’s three director classes into three classes consisting of, as nearly as may be possible, one-third of the total number of directors constituting the entire Board, effective as of immediately following the effectiveness of the Resignations. In order to achieve an equal apportionment of membership among the Board’s three classes of directors, the Board determined that one of its members should be reclassified from Class III (with a term expiring at the Company’s 2026 annual meeting of stockholders) to Class II (with a term expiring at the Company’s 2025 annual meeting of stockholders) and one of its members should be reclassified from Class I (with a term expiring at the Company’s 2027 annual meeting of stockholders) to Class III (