Company: PACB
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001299130-25-000090
Chunk: 12

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 12
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 Biosciences of California, Inc., 1305 O’Brien Drive, Menlo Park, CA 94025.

| 2025 Proxy Statement |     | 7 |

TABLE OF CONTENTS

| CORPORATE GOVERNANCE |

| Overview |

The Board of Directors oversees our Chief Executive Officer and other senior management in the competent and ethical operation of our business and affairs and assures that the long-term interests of the stockholders are being served. The key practices and procedures of the Board of Directors are outlined in the corporate governance guidelines available on our website at https://investor.pacificbiosciences.com , under “Corporate Governance — Governance Overview.”

| Board Leadership Structure |

In accordance with our corporate governance guidelines, the Board of Directors believes that the roles of Chairman of the Board of Directors and Chief Executive Officer may be filled by the same or different individuals. This allows the Board of Directors flexibility to determine whether the two roles should be combined or separated based upon the needs of the Company and the Board of Director’s assessment of our leadership from time to time.

At present, the Board of Directors has determined that separating the roles of Chairman of the Board of Directors, on the one hand, and President and Chief Executive Officer, on the other hand, is appropriate and in the best interests of our stockholders, as such separation allows our President and Chief Executive Officer to focus primarily on management responsibilities and corporate strategy, while allowing the Chairman to focus on leadership of the Board of Directors, providing feedback and advice to the President and Chief Executive Officer and providing a channel of communication between the members of the Board of Directors and the President and Chief Executive Officer. The Chairman of the Board of Directors presides over all meetings of our Board of Directors and works with the President and Chief Executive Officer to develop agendas for meetings of our Board of Directors. The Chairman also works with the Board of Directors to drive decisions about particular strategies and policies and, in concert with the independent committees of the Board of Directors, facilitates a performance evaluation process of the Board of Directors.

John F. Milligan currently serves as Chairman of the Board of Directors and Mr. Henry serves as a member of the Board of Directors and as President and Chief Executive Officer of the Company.

In the absence of the Chairman at a meeting of the Board of Directors, Mr. Henry presides over the meeting, whereas during executive sessions of the independent directors, an independent director in attendance presides over the meeting and provides feedback from the executive session to the Chairman, President and Chief Executive Officer, and other senior management.