Company: PCRX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041219
Chunk: 79

Company: Pacira BioSciences, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 79
---
 ​        | ​ | 3,051,604 | ​ | ​ |

(1) Amounts are based on the fair market value of our common stock of $18.84 per share, which was the closing price of our common stock on December 31, 2024, the last trading day of 2024, as reported on the Nasdaq Global Select Market. David Stack Retirement On September 20, 2023, David Stack informed the board that he intended to retire as Chief Executive Officer of the Company and as Chairman of the board effective immediately following the appointment of his successor as Chief Executive Officer in order to ensure a smooth transition of leadership. Frank D. Lee was appointed as Mr. Stack’s successor on January 2, 2024. In connection with his retirement and the services Mr. Stack provided during the transition period, the Company (though its operating subsidiary) and Mr. Stack entered into a Transition and Retirement Agreement, dated September 20, 2023 (the “Retirement Agreement”). Pursuant to the Retirement Agreement, subject to execution and non- revocation of a customary release of claims against the Company, Mr. Stack was entitled to: (i) continued payment of his base salary either as an executive officer or non-executive officer through September 1, 2024 (the “Retirement Date”), which totaled $634,038; (ii) eligibility for cash bonus payments under the Company’s short- and long-term incentive programs for 2023 and a pro-rata amount for 2024, subject to certain conditions, which ultimately resulted in no earned amounts for Mr. Stack under the cash LTIP and $2,188 for his annual Targeted Incentive Bonus for 2024; (iii) continued vesting of outstanding equity awards during Mr. Stack’s continued service to the Company (including during the Consulting Period), which were valued at $718,419 as of December 31, 2024 based on the fair market value of our common stock of $18.84 per share, which was the closing price of our common stock on December 31, 2024, the last trading day of 2024, as reported on the Nasdaq Global Select Market; (iv) the ability to exercise vested stock options for the lesser of (a) the stated term of the stock options and (b) twenty-four months following his cessation of service to the Company under the Consulting Agreement (as defined below); (v) continued health benefits for twelve months following the