Company: PACB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001299130-25-000061
Chunk: 172

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1
Chunk 172
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202410,509$11.09 The aggregate intrinsic value of the outstanding options presented in the table above as of December 31, 2024, totaled $0.1 million, and had a weighted-average remaining contractual life of 5.4 years.The aggregate intrinsic value of outstanding options represents the total pre-tax intrinsic value (i.e. the difference between $1.83, our closing stock price on the last trading day of our fourth quarter of 2024, and the option exercise price multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2024. The aggregate intrinsic value changes at each reporting date based on the fair market value of our common stock.The vested and exercisable options as of December 31, 2024, totaled 9,429,082 shares, had an aggregate intrinsic value that was not significant, a weighted-average exercise price per share of $11.26, and a weighted-average remaining contractual life of 5.1 years. The vested and expected to vest options as of December 31, 2024, totaled 10,957,644 shares, had an aggregate intrinsic value of $0.1 million, a weighted-average exercise price per share of $11.13, and a weighted-average remaining contractual life of 5.4 years.The total intrinsic value of stock options exercised during the years ended December 31, 2024, 2023, and 2022 was $0.8 million, $8.8 million, and $5.0 million, respectively. The total intrinsic value of options exercised represents the difference between our closing stock price on the exercise date and the option exercise price, multiplied by the number of in-the-money options exercised.The weighted-average grant-date fair value of all options granted was $1.40 in 2024, $7.32 in 2023, and $5.93 in 2022, each determined by the Black-Scholes option valuation method.

Fiscal 2024 Form 10-K119

Restricted Stock Units ("RSU") and Performance Stock Units ("PSU")We have awarded both Restricted Stock Units (RSUs) and Performance Stock Units (PSUs). Each RSU represents the right to receive one share of our common stock upon meeting the required service-based vesting conditions. RSUs typically vest over four years, with equal annual installments.In 2023, PSUs were granted and are