Company: PACB
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001299130-25-000090
Chunk: 33

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 33
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TABLE OF CONTENTS

| PROPOSAL 1: ELECTION OF DIRECTORS |

Our Board of Directors currently consists of nine members. Our certificate of incorporation was amended in 2024 to provide for each director to serve a one-year term upon expiration of each director’s then-current term. We are in the first year of a three-year process of declassifying our Board of Directors. Each person elected as a Class III director at the Annual Meeting will serve for a one-year term expiring on the date of the Company’s 2026 annual meeting of stockholders, instead of the three-year terms that directors served prior to the start of the declassification of our Board of Directors.

At the 2026 annual meeting of stockholders, the successors of the directors whose terms expire at the 2026 annual meeting of stockholders (including, for the avoidance of doubt, the Class I directors and the successors of the directors elected at the Annual Meeting) will each be elected for a term expiring at the annual meeting of stockholders held in 2027. From and after our 2027 annual meeting of stockholders, the division of our directors into classes will terminate in accordance with our Amended and Restated Certificate of Incorporation and all of our directors will be elected for terms expiring at the next annual meeting of stockholders.

Our Board of Directors has nominated William Ericson, Kathy Ordoñez and Christopher M. Smith for election as Class III directors at the Annual Meeting. Please refer to the “Board of Directors and Committees of the Board” section above for the nominees’ biographies.

Each nominee will be elected separately by a majority vote. A given nominee will be elected if the votes cast for such nominee’s election exceed the votes cast against such nominee’s election. If any incumbent nominee receives a greater number of votes against his or her election than votes for such election, our corporate governance guidelines require that such incumbent nominee promptly tender his or her resignation promptly following certification of the applicable stockholder vote. The Qualified Independent Directors (as defined in the corporate governance guidelines) will then decide whether to accept or reject the resignation or whether other action should be taken. Our Board of Directors, through the Qualified Independent Directors, will publicly disclose its decision and the rationale behind it within 90 days from the date the election results are certified. Full details of this policy are set forth in our corporate governance guidelines on our website at https://investor.pacificbiosciences.com , under “Corporate Governance — Governance Overview