Company: PCRX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041219
Chunk: 81

Company: Pacira BioSciences, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 81
---
 the Transition Date, which was valued at $278,513 based on the fair market value of our common stock of $15.51 per share, which was the closing price of our common stock on October 10, 2024, the effective date of Mr. Reinhart’s execution and non-revocation of a customary release of claims against the Company; (vi) the ability to exercise vested stock options for the lesser of (a) the stated term of the stock options and (b) three months following his cessation of service to the Company under the Consulting Agreement (as defined below); (vii) continued health benefits for 12 months following the Transition Date, which are valued at $14,968; and (viii) certain other benefits, including change of control benefits (which lapsed on the Transition Date), expense reimbursement and payment of accrued vacation, pursuant to the terms of his then-existing employment agreement, which was not amended in connection with his departure. The Company and Mr. Reinhart also agreed to enter into a Consulting Agreement, effective October 1, 2024 (the “Consulting Agreement”), pursuant to which Mr. Reinhart will provide transition services to the Company from October 1, 2024 until June 30, 2025. Mr. Reinhart did not bill the Company for any services under the Consulting Agreement during 2024. Pay Versus Performance The People & Compensation Committee oversees our compensation programs that are designed to attract, retain, motivate, and align the interests of our named executive officers with that of stockholders. We link executive pay with stockholder interests through a blend of short- and long-term measures. In 2024, incentive pay made up 94percent of Frank D. Lee, our CEO’s target compensation and, on average, 82percent of our other named executive officers’ target compensation (excluding Messrs. Stack and Reinhart who were known to be departing the organization and Ms. Riker, who was our interim CFO for approximately three weeks). The high utilization of incentive compensation results in higher total realized pay when leadership exceeds their performance targets. Conversely, failure to achieve approved targets results in lower realized pay including the possibility that some awards pay zero at the end of their performance period. The compensation actually paid, as calculated under SEC rules (“CAP”), for the PEO (or Principal Executive Officer (“PEO”)) and the average for non- PEO named executive officers (or “non-PEO NEOs”) and certain