Company: PCRX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041219
Chunk: 40

Company: Pacira BioSciences, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 40
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. EXECUTIVE SUMMARY Our People & Compensation Committee is responsible for overseeing and making recommendations to our board regarding the compensation of our executive officers including base salary, cash, and equity incentive compensation levels and awards, severance arrangements, change of control benefits and other forms of executive compensation. The People & Compensation Committee is also responsible for evaluating our performance against our corporate goals, assessing the performance of our named executive officers and making related recommendations to our board, and ensuring our compensation program is aligned with our stockholders’ interests and the objectives described below and is competitive with those of other companies in our industry that compete with us for talent. As shown in this section, the People & Compensation Committee takes these responsibilities very seriously, and makes all compensation decisions in a thorough and thoughtful way. The primary objective of our executive compensation program is to attract and retain superior executive talent by providing competitive incentives to reward our executives for performance and aligning executive interests with those of our stockholders and the long-term strategic goals and objectives approved by our board. Our compensation program is made up of the following direct compensation elements: 2024 Company Performance * Included in net loss in 2024 was a $163.2 million goodwill impairment based upon an assessment that the fair value of goodwill was less than its carrying value. ** Adjusted EBITDA is a non-GAAP financial measure. See “Appendix A—Reconciliation of U.S. GAAP Net Income (Loss) to Adjusted EBITDA” for the definition of Adjusted EBITDA and a reconciliation to the most directly comparable GAAP measure. 52 | investor.pacira.com TABLE OF CONTENTS Executive Compensation • In 2024, we reported record total revenues of $701.0 million, driven by EXPAREL net product sales of $549.0 million, ZILRETTA net product sales of $118.1 million, and iovera° net product sales of $22.8 million. • In February 2024, we received FDA approval of our supplemental New Drug Application (sNDA) for an enhanced, large-scale manufacturing suite for EXPAREL at our Science Center Campus in San Diego, California; • In February 2024, were granted RMAT designation for PCRX-201 (enekinragene inzadenovec), our novel, intra-articular high-capacity adenovirus (HCAd) gene therapy product candidate; • During 2024, we obtained six new Orange Book-listed patents for EXPAREL, including the