Company: PACB
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001299130-25-000090
Chunk: 30

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 30
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 of such Annual Award's grant date equal to $200,000; provided that the aggregate number of shares subject to the Annual Award granted to each non-employee director as of an Annual Meeting Date shall not exceed 65,000 shares. Further, the grant date fair value of the first Annual Award granted to a non-employee director is prorated based on the number of months of continuous service such non-employee director provided as a member of the Board of Directors during the twelve (12) month period immediately preceding such Annual Meeting Date (with any partial month of service provided rounded up to a whole month) to the extent such individual’s service as a member of the Board of Directors commenced after the date of the Company’s immediately preceding annual meeting of stockholders. An individual who is a non-employee director as of an Annual Meeting Date who resigns from such non-employee director role or otherwise ceases to be a non-employee director as of such date, is not granted an Annual Award on such date, and an individual who first becomes a non-employee director as of an Annual Meeting Date is eligible to receive an Initial Award but not an Annual Award with respect to such Annual Meeting Date. The Annual Awards are scheduled to vest monthly over one (1) year, on the same day of the month as the Annual Award’s date of grant (or if a particular month does not have a corresponding day within that month, then the last day of that month) or, if earlier, on the date of the Company’s next annual meeting of stockholders occurring after the Annual Award’s date of grant, provided such non-employee director continues to serve as a director through the applicable vesting dates.

| 2025 Proxy Statement |     | 22 |

TABLE OF CONTENTS

Notwithstanding the above, non-employee directors may not be granted, in any fiscal year, awards and any other compensation (including without limitation any cash retainers or fees) that, in the aggregate, exceed $500,000, provided that such amount is increased to $1,000,000 in the fiscal year of his or her initial service as a non-employee director. Any awards or other compensation provided to an individual for his or her services as an employee or consultant (other than as a non-employee director) is excluded from such calculation.

In the event of a “change in control,” as defined in the 2010 Outside Director Equity Incentive Plan (the “2010 Director Plan”), with respect to awards granted under the