Company: PACB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001299130-25-000061
Chunk: 716

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1A
Chunk 716
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6,018)(149)7.90 9.43 Outstanding at December 31, 202414,211392$7.41 $9.43 The total fair value of shares vested related to RSUs during the years ended December 31, 2024, 2023, and 2022 was $47.2 million, $39.3 million, and $39.2 million, respectively. The weighted-average grant-date fair value of all RSUs granted was $5.02 in 2024, $9.65 in 2023, and $10.15 in 2022. Employee Stock Purchase PlanAs of December 31, 2024, a total of 33.5 million shares of our common stock have been reserved for issuance under the ESPP, which allows eligible employees to acquire common stock at a discounted price through payroll deductions during designated offering periods. Each offering period typically consists of four purchase periods, each lasting approximately six months. Shares are purchased at the lower of 85% of the fair market value of the common stock at either the beginning of the offering period or the end of the purchase period. If the stock price at the end of a purchase period is lower than at the start of the offering period, the existing offering period will be reset, and a new offering period will begin. The ESPP provides for an annual increase to the shares available for issuance at the beginning of each fiscal year equal to the lesser of 2% of the common shares then outstanding, 4,000,000 shares, or an amount determined by the ESPP’s administrator.For the years ended December 31, 2024, 2023, and 2022, 1,906,529 shares, 1,735,058 shares, and 1,878,168 shares of common stock were purchased under the ESPP, respectively. As of December 31, 2024, 14.3 million shares of our common stock remain available for issuance under our ESPP.Share-based CompensationThe following table summarizes share-based compensation expense: Years Ended December 31,(in thousands)202420232022Cost of revenue$5,691 $5,399 $4,802 Research and development19,172 22,435 30,676 Sales, general and administrative46,173 44,284 43,135 Total share-based compensation71,036 72,118 78,613 As of