Company: PACB
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001299130-25-000061
Chunk: 175

Company: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 1
Chunk 175
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 historical experience of similar awards, considering the contractual terms of the stock options and vesting schedules.•Expected Volatility – The expected volatility used in the Black-Scholes valuation method is derived from the implied volatility related to our share price over the expected term.•Expected Dividend – We have never paid dividends on our shares and, accordingly, the dividend yield percentage is zero for all periods.•Risk-Free Interest Rate – The risk-free interest rate used in the Black-Scholes valuation method is the implied yield currently available on U.S. Treasury constant maturities issued with a term equivalent to the expected terms.Stock OptionsWhen determining the current share prices underlying the stock options for calculating the grant-date fair value, we reference observable market prices of similar or identical instruments in active markets. The fair value of employee stock options was estimated using the following weighted-average assumptions:Years Ended December 31,202420232022Expected term in years4.94.94.6Expected volatility 81% - 93%77% - 78%70% - 76%Risk-free interest rate 3.48% – 4.32%3.73% – 4.60%0.41% – 3.66%Dividend yield ———Weighted-average grant date fair value per share$1.40 $7.32 $5.93 Cash received from option exercises for the years ended December 31, 2024, 2023, and 2022 was $1.6 million, $6.5 million and $3.4 million, respectively. 

Fiscal 2024 Form 10-K121

ESPP The fair value of shares to be issued under the ESPP was estimated using the following assumptions:Years Ended December 31,202420232022Expected term in years0.5 - 2.00.5 - 2.00.5 - 2.0Expected volatility 81% - 118%79% - 97%70% - 97%Risk-free interest rate 3.9% - 5.3%4.9% - 5.5%0.6% - 3.5%Dividend yield ———Weighted-average grant date fair value per share$1.53 $5.34 $4.28 Cash received through the ESPP for the years ended December 31, 2024, 2023, and 2022 was $6.1 million, $8