Company: PCRX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041219
Chunk: 53

Company: Pacira BioSciences, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 53
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(1) Payout ranges on assessed performance for each goal underlying the categories of the corporate dashboard range from zero to 150%. For goals that meet their target, performance is assessed between 90% and 110%. Goals contained within each category are not necessarily equally weighted. (2) Despite the multiple accomplishments described above, the People & Compensation Committee acknowledges that there was a loss to the Company’s market capitalization and an adverse impact on stockholders due to the unfavorable outcome in the Company’s first Paragraph IV patent litigation, while still acknowledging that this litigation, along with the Company’s broader intellectual property strategy, is a work in progress, and that additional legal actions and additional patents anticipated in the coming years. In doing so, the Committee acknowledged using its discretion to account for this significant event, and accordingly reduced the payout under the annual incentive bonus plan. As a result, for the Company’s named executive officers in 2024, the corporate performance factor was deemed to be achieved at 90% of goal. Subsequently, in April 2025, these matters were favorably settled by the Company and the other parties to the litigation. In reaching the final result for the 2024 Corporate Dashboard and Performance, the People & Compensation Committee also considered notable major accomplishments beyond the goals set earlier in the year, including: obtaining a J-Code for EXPAREL and a C-Code for iovera°; obtaining a notice of issuance for a new EXPAREL patent family; receiving RMAT designation from the FDA for PCRX-201 (the first gene therapy product candidate to ever receive the designation); the presentation of PCRX-201 two-year data at the American College of Rheumatology Conference; and the signing of a term sheet for the acquisition of GQ Bio Therapeutics GmbH, ultimately completed in February 2025. As noted above, the People & Compensation Committee also acknowledged the negative outcome in the Company’s first Paragraph IV lawsuit. 2024 Cash LTIP Targets and Earned Awards The purpose of the cash LTIP is to provide select employees of the Company and its subsidiaries (including our CEO and named executive officers) the opportunity to receive long-term cash incentive awards. The cash LTIP is intended to: (i) motivate and reward participants for increasing stockholder value by achieving certain objective, pre-determined performance goals, including relative