Company: PACB
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001299130-25-000090
Chunk: 75

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 75
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 executive officers. Our Compensation Committee discusses with the Chief Executive Officer the core operational and financial metrics to drive the business forward, and how various forms of variable and incentive compensation can be applied at the executive level to achieve our goals but the Compensation Committee, or the Board of Directors with respect to the Chief Executive Officer, makes the final decision regarding forms of compensation and metrics to be utilized. Our Compensation Committee meets in executive session, without our Chief Executive Officer, when discussing or making recommendations regarding his compensation.

#### Components of our Executive Compensation Program
Compensation of Our Named Executive Officers

The components of our executive compensation program consist primarily of base salary, incentive cash bonuses, equity awards and broad-based benefits programs. These are the same programs that are used across the Company for alignment within our culture, and to reflect industry practices. We combine short-term compensation components, namely base salaries and variable annual cash incentives with long-term equity incentive compensation components to provide an overall compensation structure that is designed to financially reward executives for creating additional value for our stockholders, attract, retain and motivate key executives and provide incentive for the achievement of short-term and long-term corporate objectives. The Compensation Committee and the Board of Directors believe these elements are appropriate components of executive compensation and are consistent with those provided by companies in the technology and life sciences industries.

Base Salary

Base salaries are provided to our NEOs to recognize each such executive’s day-to-day contributions and in order to maintain an executive compensation program that is competitive and reflects appropriate market practices. The Compensation Committee determined base salaries for each of our NEOs based on:

#### •

#### the executive’s role and responsibilities;
#### •

#### a review of any applicable market data;
#### •

#### individual job performance; and
#### •

#### internal pay comparisons across the team.
| 2025 Proxy Statement |     | 56 |

TABLE OF CONTENTS

In early 2024, the Compensation Committee reviewed the base salaries of each of our NEOs based on the Peer Group data prepared by Aon and determined (or in the case of our Chief Executive Officer, the Board of Directors determined) to provide a salary increase effective beginning March 2024 for each of our NEOs. The Compensation Committee did not consider such adjustments to be a material change to the salaries.

The annual salary rates for 2024 for our NEOs were as follows:

| Name               |     | As of Fiscal Year End 2023 ($) |     | As of Fiscal Year End 2024 ($) |     | Change (%) |
|:----------------