Company: PACB
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001299130-25-000090
Chunk: 74

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 74
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Rythm Technologies, Inc., was removed based on lack of alignment under the updated industry criteria. Each of Codexis, Inc. and Berkeley Lights, Inc., the latter of which merged with Isoplexis Corporation in March 2023 and is now known as PhenomeX Inc., was removed based both on its market capitalization being outside of the parameters described above and to lack of alignment under the updated industry criteria. Each of Invitae Corporation, NanoString Technologies, Inc. and SomaLogic, Inc, which merged with Standard BioTools Inc. in January 2024, was removed based on its market capitalization being outside of the parameters described above. Nevro Corp. was removed based on its market capitalization being outside of the parameters described above and to lack of alignment under the updated industry criteria. The Compensation Committee added AbCellera Biologics Inc., Azenta, Inc., Cytek Biosciences, Inc., Fulgent Genetics, Inc., Myriad Genetics, Inc., and Repligen Corporation, each of which satisfied most or all of the criteria described above.

In assisting it in setting (or recommending to our Board of Directors) the compensation for our NEOs, the Compensation Committee reviews the Peer Group data for base salary, target bonus opportunity, equity compensation, target total cash (consisting of base salary and target bonus opportunity), and target total direct compensation (consisting of target total cash and equity compensation).

| 2025 Proxy Statement |     | 55 |

TABLE OF CONTENTS

The Compensation Committee uses competitive compensation data from the annual total compensation study of peer companies to inform its decisions about overall compensation opportunities and specific compensation elements. Additionally, the Compensation Committee uses multiple reference points when establishing targeted compensation levels. The Compensation Committee does not benchmark specific compensation elements or total compensation to any specific percentile relative to the peer companies. Instead, the Compensation Committee applies judgment and discretion in establishing targeted pay levels, taking into account not only competitive market data, but also factors such as business and individual performance, scope of responsibility, critical needs and skill sets, leadership potential and succession planning.

Role of Executive Officers in Compensation Decisions

Our Compensation Committee seeks and considers input from our Chief Executive Officer regarding our executive officers’ responsibilities, performance and compensation. Our Compensation Committee considers our Chief Executive Officer’s recommendations as well as any other relevant factors (for example, market data, Company performance, internal equity, and the executive’s experience, tenure, skills, and historical and future expected contributions), and approves the specific compensation for all such