DOMA Perpetual Capital Management Announces Intent to Nominate Three Highly Qualified, Independent Director Candidates at 2026 Annual Meeting of Pacira BioSciences, Inc.

Rhea-AI Summary

Argus Dec 30 session

+0.04% close to close Open Argus

Details

News Market Reaction – PCRX

In the Dec 30 session, PCRX gained 0.04%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement centers on governance and strategy, with DOMA, holding 6.83% of Pacira, signaling ...

Analysis

This announcement centers on governance and strategy, with DOMA, holding 6.83% of Pacira, signaling plans to nominate three independent directors and urging a formal sale process while criticizing executive pay and spending. In recent months the company highlighted clinical progress, collaborations, and balance sheet actions in its 10-Q. Investors monitoring this situation may focus on upcoming board responses, any changes to capital allocation, and future SEC filings or proxy materials.

Key Figures

DOMA ownership: 6.83% of outstanding common stock

DOMA ownership

6.83% of outstanding common stock

Beneficial ownership stake disclosed as of the activist announcement

Historical Context

5 past events · Latest: Dec 18

5 events

1. Dec 18

   Research collaboration

   24h Move

   -2.5%

   Joined PROBE Consortium, contributing ASCEND gene therapy data for osteoarthritis research.

2. Dec 03

   Inducement grants

   24h Move

   +0.5%

   Granted 2,200 inducement RSUs to new hires under Nasdaq Rule 5635(c)(4).

3. Dec 02

   Clinical data update

   24h Move

   +1.6%

   Reported 12‑month iovera° pilot showing improved pain and function vs RFA.

4. Nov 26

   Patent litigation

   24h Move

   -1.0%

   Filed EXPAREL patent infringement lawsuits against The WhiteOak Group and Qilu.

5. Nov 11

   Conference participation

   24h Move

   +4.5%

   Scheduled fireside chats at Jefferies London and Piper Sandler healthcare conferences.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

executive compensation, fiduciary oversight, annual meeting

3 terms

executive compensation financial

"DOMA considers the current level of Executive Compensation and General Spending to be exorbitant"

Payments and benefits given to a company's top leaders — including base salary, cash bonuses, stock awards, options and retirement or perquisites — designed to compensate and motivate them. Investors care because these packages affect a company’s costs, influence executives’ decisions and signal how well management’s interests line up with shareholders’; like a captain’s contract, the structure of pay can encourage safe navigation toward long-term gains or risky short-term moves that hurt returns.

View in glossary

fiduciary oversight regulatory

"questions whether the Board has exercised appropriate fiduciary oversight"

Fiduciary oversight is the responsibility and active monitoring by a company's board, trustees, or advisors to ensure managers and decision‑makers act in the best interests of shareholders or beneficiaries rather than pursuing their own gain. It matters to investors because this oversight reduces the risk of fraud, conflicts of interest, or careless choices—like having a trusted referee watching a game—so capital is more likely to be protected and used to generate sustainable returns.

annual meeting regulatory

"director candidates at the Company's 2026 annual meeting of stockholders"

A company's annual meeting is a yearly gathering where owners (shareholders) and the board review performance, ask questions, and vote on key matters like electing directors, approving auditor choices, and sometimes setting pay or dividend policies. For investors it matters because decisions made and votes cast can change who runs the company, influence strategy and payouts, and affect the value or direction of their investment—similar to a homeowners’ meeting where rules and leaders that shape your property’s value are decided.

View in glossary

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Restates Position that Pacira's Board Should Conduct Formal Sales Process of the Business

Considers Current Executive Compensation and Spending Exorbitant and Unmerited

Questions Whether the Board Has Exercised Appropriate Fiduciary Oversight

MIAMI, Dec. 30, 2025 /PRNewswire/ -- DOMA Perpetual Capital Management LLC (together with its affiliates, "DOMA"), which beneficially owns approximately 6.83% of the outstanding shares of Common Stock of Pacira BioSciences, Inc. (NASDAQ: PCRX) ("Pacira" or the "Company"), today announced that it intends to nominate three highly-qualified, independent director candidates at the Company's 2026 annual meeting of stockholders. DOMA further asserts the Company's Board of Directors should pursue an immediate sale of the Company. DOMA considers the current level of Executive Compensation and General Spending to be exorbitant and unmerited and questions whether the Board has exercised appropriate fiduciary oversight.

About DOMA Perpetual Capital Management LLC:
DOMA Perpetual Capital Management LLC is an asset management firm based in Miami, Florida. DOMA Perpetual strives to achieve great investment results by identifying attractive, uncorrelated companies with sustainable competitive advantages, while limiting exposure to downside risks. It employs an opportunistic, fundamentals-based strategy that invests in companies across a variety of sectors and market caps throughout the globe.

Contact:
DOMA Perpetual Capital Management LLC
ir@domaperpetual.com 

CERTAIN INFORMATION CONCERNING THE PARTICIPANTS

DOMA Perpetual Capital Management LLC, a Delaware limited liability company ("DOMA"), together with the other participants named herein, intend to file a preliminary proxy statement and accompanying WHITE proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of its slate of director nominees at the 2026 annual meeting of stockholders of Pacira BioSciences, Inc., a Delaware corporation (the "Company").

DOMA STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR.

The participants in the proxy solicitation are anticipated to be DOMA, DOMA Perpetual LO Equity Master Fund LP, an exempted limited partnership organized under the laws of the Cayman Islands ("DOMA LO Master"), DOMA Perpetual Partners GP LLC, a Delaware limited liability company ("DOMA GP"), Reliability LLC, an investment holding company wholly-owned by the John Templeton Foundation ("JTF"), Pedro Escudero and the individuals to be nominated by DOMA as director candidates at the Company, who have not yet been identified.

As of the date hereof, DOMA LO Master directly beneficially owns 1,965,775 shares of Common Stock, par value $0.001 par value per share, of the Company (the "Common Stock"). As of the date hereof, JTF directly beneficially owns 812,019 shares of Common Stock.¹ As of the date hereof, Mr. Escudero directly beneficially owns 159,000 shares of Common Stock. As Investment Manager of DOMA LO Master and JTF, DOMA may be deemed to beneficially own the 2,936,794 shares of Common Stock beneficially owned by DOMA LO Master. As general partner of DOMA LO Master, DOMA GP may be deemed to beneficially own the 2,124,775 shares of Common Stock beneficially owned by DOMA LO Master. As Founder and Chief Investment Officer of DOMA and Managing Member of DOMA GP, Mr. Escudero may be deemed to beneficially own the 2,936,794 shares of Common Stock beneficially owned by DOMA, and DOMA GP.

¹ DOMA is acting as investment manager with respect to the shares beneficially owned by JTF which DOMA exercises discretionary investment and voting authority. JTF is not making or sponsoring the director nominations.

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SOURCE DOMA Perpetual