Company: PCRX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041219
Chunk: 41

Company: Pacira BioSciences, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 41
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 first patent from a new family of EXPAREL patents produced by the enhanced larger-scale manufacturing process in San Diego, California that provides patent protection for EXPAREL into July 2044; • In May 2024 we completed a private placement of $287.5 million in aggregate principal amount of 2.125% convertible senior notes due 2029 (the “2029 Notes”) and used part of the net proceeds from the issuance of the 2029 Notes to repurchase $200.0 million in aggregate principal amount of our 0.750% convertible senior notes due 2025; • In October 2024, we obtained from CMS a permanent product-specific Healthcare Common Procedure Coding System (HCPCS) J-code for EXPAREL (J0666) that became effective January 1, 2025; • In November 2024, we obtained from CMS confirmation that both EXPAREL and iovera° qualify as eligible non-opioid pain management products under the NOPAIN Act. • In December 2024, we received 510(k) clearance from the FDA for a new iovera° Smart Tip designed to access the medial branch nerves to administer a medial branch block to manage chronic low back pain. The following chart highlights the growth of our net product sales (EXPAREL, ZILRETTA, and iovera°) over the last three years: Net Product Sales 2022-2024 ($ in millions) Pacira BioSciences, Inc. 2025 Proxy Statement | 53 TABLE OF CONTENTS Executive Compensation Executive Compensation Highlights We believe that our executive compensation program is well-structured to support our business objectives, and that our compensation programs and policies reflect a pay-for-performance philosophy that is closely aligned with the long-term interests of our stockholders, as the majority of compensation our executives realize is aligned to corporate objectives and linked to the value of our common stock. CEO COMPENSATION—FRANK D. LEE Pursuant to his employment agreement entered into in connection with his appointment on January 2, 2024, Mr. Lee’s annual base salary for 2024 was $900,000 per year. Mr. Lee also participated in the Company’s annual cash incentive bonus program for executive officers, with his initial annual incentive bonus target set at 85% of his annual base salary. In addition, Mr. Lee participated in the Company’s cash LTIP for executive officers. To induce Mr. Lee to accept our offer of employment, he also received