Company: PCRX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041219
Chunk: 91

Company: Pacira BioSciences, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 91
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 equity awards, including the Amended and Restated 2014 Inducement Plan, and excluding any shares of common stock that may be issued to settle the premium upon conversion of our convertible senior notes). The number of shares authorized for grant under the 2011 Plan as of April 1, 2025 is based on the sum of (i) 17,642,347 shares of common stock plus (ii) the number of shares of our common stock (up to 2,112,190 shares) that were subject to awards granted under our now terminated Second Amended and Restated 2007 Stock Option-Stock Issuance Plan (the “2007 Plan”), which expired, terminated or were otherwise surrendered, cancelled, forfeited or repurchased by us at their original issuance price pursuant to a contractual repurchase right. There are no remaining outstanding awards under the 2007 Plan. In developing the share request, the board considered the following factors: • Anticipated share needs over the next year in consideration of the attraction and retention of employee talent, which is impacted by share price. • Recent share requests in the Company’s industry (Global Industry Classification System 3520, which consists of companies in the Pharmaceuticals, Biotechnology & Life Sciences industry), with an emphasis on how the new shares requested (5.4% of common shares outstanding) and new shares requested plus shares available for future grant (6.9% of common shares outstanding) compares to the market. In each case, the Company’s proposed request is positioned at or modestly above the 25 th percentile of these companies. • The Company’s equity dilution, which is elevated due to a significant amount of the Company’s outstanding stock options (15.3% of common shares outstanding) being underwater. With that in mind, the Company is seeking only one year of shares in the request. • The Company’s reshaping of its executive team since the appointment of Frank D. Lee as CEO, Shawn Cross as CFO, and the growth in the Company’s employee base that occurred in 2024 and is expected to continue into 2025. FACTORS TO CONSIDER REGARDING OUR USE OF EQUITY

| ​ |     | ​ | ​ | We Are Managing Our Annual Burn Rate and Overhang | ​ |

Our three-year average annual burn rate from 2022 to 2024 was 5.61%, calculated for each year as the number of shares subject to options and RSUs granted in such year divided by the respective