Company: PACB
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001299130-25-000090
Chunk: 87

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 87
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 within the range of guidelines approved by the Board of Directors or Compensation Committee (based on job grade) and pursuant to our equity award granting policy approved by the Board of Directors (including any revision thereto approved by the Board of Directors or a committee thereof), to newly hired employees who are below the level of vice president (or equivalent title) and who are not subject to Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

Following the amendment to the equity award granting policy in 2024, the policy provides the scope of authority of the equity award grant committee, a committee authorized by the Compensation Committee and consisting of the Chief Executive Officer and certain other members of management (the “Grant Committee”), to grant equity awards to certain newly hired employees. Equity awards under the policy generally are priced based on the Nasdaq closing price at the close of regular trading on the applicable grant date. Equity awards granted to our newly hired employees at the level of vice president and above generally become effective on the later of (i) the date of approval and (ii) date of hire. Any equity awards to be granted to newly hired employees below the level of vice president generally are not considered for approval until at least the month following the month in which employment begins, on the 15th day of such month. Equity awards approved by the Compensation Committee or the Board of Directors, as applicable, may be approved at any time, and become effective on the date of approval. Annual equity awards granted to employees and approved by the Compensation Committee or the Board of Directors, as applicable, generally will become effective on or before the second business day following the date of filing of our form 10-K for the immediately preceding fiscal year. It is not the practice of the Compensation Committee to grant stock options or similar equity awards to employees, including our executive officers, or non-employee directors during periods in which there is material nonpublic information about our Company, including (i) outside a “trading window” established in connection with the public release of earnings information under our Insider Trading Policy or (ii) at any time during the four business days prior to or the one business day following the filing of our periodic reports or the filing or furnishing of a Form 8-K that discloses material nonpublic information. The Compensation Committee does not take material nonpublic information into accountwhen determining the timing and terms of equity awards. Stock options may occasionally be awardedon an off-cycle basis, including to new hires.The Company has not timed the disclosure of material non