Company: PCRX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001104659-25-041219
Chunk: 43

Company: Pacira BioSciences, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 43
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 of target for our named executive officers based on the factors discussed in the section titled “Annual Incentive Bonuses” on page 63 and the section titled “2024 Corporate Dashboard and Performance” on page 65. Equity Grants The People & Compensation Committee believes that equity grants are a long-term incentive opportunity to motivate and reward our named executive officers to achieve multi-year strategic goals and to deliver sustained long-term value to stockholders. In 2024, in connection with their hirings, the People & Compensation Committee granted Frank D. Lee, our chief executive officer and Shawn Cross, our chief financial officer, an approximate equity mix of 75% stock options and 25% RSUs in accordance with standard practices for new hires with the primary objective being to align their compensation arrangements with stockholder value creation. In 2024, the People & Compensation Committee determined that RSUs were the best vehicle to use for equity grants for our other named executive officers, as they motivate and incentivize our named executive officers because they have upside potential but also provide a retentive benefit and encourage our executives to focus on the long-term success of the Company because they deliver some value even during periods of stock price underperformance, while also reinforcing an ownership culture and commitment to Pacira. As such, for our other named executive officers, the People & Compensation Committee granted equity awards as 100% of time-vested RSUs. In doing so, the People & Compensation Committee considered the importance of bolstering executive retention during a period of significant business turbulence, combined with a lack of retentive value from prior stock option awards at such time. In addition to the annual awards, Kristen Williams and Daryl Gaugler each received a special retention award of time-based RSUs to enhance retention and recognize the additional workload associated with the transition in CEO leadership, and Jonathan Slonin received 10,000 stock options and 5,000 RSUs for his promotion to Chief Medical Officer. Pacira BioSciences, Inc. 2025 Proxy Statement | 55 TABLE OF CONTENTS Executive Compensation The following charts illustrate the vesting schedules of stock options and RSUs granted* to our named executive officers in 2024: * Excludes retention RSU grants made to each of Ms. Williams and Mr. Gaugler. For more information, see “ Retention Equity Grants to Kristen Williams and Daryl Gaugler ” on page 72 . Cash Long-Term Incentive Plan The cash LTIP is a long-term cash award based