Company: PCRX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041219
Chunk: 55

Company: Pacira BioSciences, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 55
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| The Cash LTIP performance metrics were as follows and were equally weighted at 50% each |   |   |           |   |   |     |   |   |                      |   |   |                       |   |   |                       |   |   |                        | ​ |
| Performance Metric                                                                      | ​ | ​ | Weighting |   |   |     | ​ | ​ | Threshold(50%Payout) | ​ | ​ | Target(100%Payout)    | ​ | ​ | Maximum(150%Payout)   | ​ | ​ | ActualPerformance      | ​ |
| Net revenue(2)                                                                          | ​ | ​ |           | ​ | ​ | 50% | ​ | ​ | 95% of Target$662.2m | ​ | ​ | 100% of Target$697.0m | ​ | ​ | 105% of Target$731.9m | ​ | ​ | 99.0% of Target$689.9m | ​ |
| Adjusted EBITDA(3)                                                                      | ​ | ​ |           | ​ | ​ | 50% | ​ | ​ | 90% of Target$210.6m | ​ | ​ | 100% of Target$234.0m | ​ | ​ | 110% of Target$257.4m | ​ | ​ | 96.0% of Target$224.7m | ​ |

(1) The 2024 cash LTIP targets exclude $1.7 million of net adjustments related to net revenues and cost of goods sold for sales to our third-party partner for our bupivacaine liposome injectable suspension in veterinary use because we do not have any control over the timing or quantities of the third-parties’ sales or order patterns, and also excludes the accounting cost of the cash LTIP itself. These items are not intended to positively impact the net revenue metric nor adversely impact the adjusted EBITDA metric. Additionally, the figures reported here will not be comparable with our consolidated financial results as reported in our latest Annual Report on Form 10-K, filed with the SEC on February 27, 2025 or in this proxy statement, including “Appendix A—Reconciliation of U.S. GAAP Net Income (Loss) to Adjusted EBITDA”. (2) Net revenue includes all gross revenues less product returns, allowances, prompt payment discounts, wholesaler service fees, volume rebates, chargebacks, and