Company: PACB
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001299130-25-000090
Chunk: 81

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 81
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     | 2024 Actual Bonus Amount 
 ($)                      |     |         |
| Christian O. Henry |     | 100%              |     |                             $730,000 |     | 30%                 |     |   |     |                          |     | 219,000 |
| Susan G. Kim(1)    |     | 50%               |     |                             $242,500 |     |                     |     | — |     | —                        |     |         |
| Mark Van Oene      |     | 60%               |     |                             $363,000 |     | 30%                 |     |   |     |                          |     | 108,900 |
| Jeff Eidel(2)      |     | 50%               |     |                             $242,500 |     |                     |     | — |     | —                        |     |         |

(1) Ms. Kim served as our Chief Financial Officer until December 6, 2024, thus forfeiting her entire bonus.

(2) Mr. Eidel served as our Chief Commercial Officer until November 15, 2024, thus forfeiting his entire bonus.

Equity Incentives

We believe that equity awards promote closer alignment of the interests of our key employees with the development of long-term value for our stockholders. Historically, the Compensation Committee and the Board of Directors have used stock options, RSUs or PSUs to align executives’ interests with that of our stockholders. However, in 2024 we granted only time-based RSUs to align with the interests of our key employees and maximize retention value for our key employees. The Company’s practice is to grant equity awards to existing officers and employees on an annual schedule, and the timing of such annual equity awards is governed by the Company’s equity award granting policy. The Compensation Committee and the Board of Directors may approve equity award grants to be effective at other times, including, but not limited to, the hiring or promotion of an officer or employee.

2024 Annual Equity Awards. In February 2024, after considering input from its compensation consultant, the Compensation Committee and the Board of Directors determined that RSUs were appropriate for further emphasizing the Company’s goals to retain key talent to achieve our revenue and other key goals. Accordingly, for 2024, for annual equity awards, the Company granted to each of Mr. Henry, Ms. Kim, Mr. Van Oene and Mr. Eidel equity awards in the form of RS