Pacira BioSciences Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Pacira BioSciences (PCRX) has granted inducement awards to 19 new employees on June 3, 2025, under its Amended and Restated 2014 Inducement Plan. The awards include stock options for 11 employees to purchase 26,700 shares and restricted stock units (RSUs) for 19 employees covering 41,600 shares. The stock options have a 10-year term with a four-year vesting schedule, starting at 25% after the first year and quarterly installments thereafter. The exercise price is set at $26.40 per share. The RSUs vest annually in four equal installments beginning June 1, 2026. All awards are contingent on continued employment and were approved by the People & Compensation Committee without stockholder approval.

Positive

• Company is expanding its workforce with 19 new employees
• Equity-based compensation aligns employee interests with shareholders
• Structured vesting schedule helps with employee retention

Negative

• Potential dilution of existing shareholders from new equity issuance
• Additional compensation expenses impact company financials

BRISBANE, Calif., June 05, 2025 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in the delivery of innovative, non-opioid pain therapies to transform the lives of patients, today announced the granting of inducement awards on June 3, 2025 to 19 new employees under Pacira’s Amended and Restated 2014 Inducement Plan (the “Inducement Plan”) as a material inducement to each employee’s entry into employment with the company. In accordance with Nasdaq Listing Rule 5635(c)(4), the awards were approved by the People & Compensation Committee of the Board of Directors (the “Committee”) without stockholder approval.

11 employees received stock options to purchase an aggregate of 26,700 shares of Pacira common stock and 19 employees received restricted stock units for an aggregate of 41,600 shares of Pacira common stock. The stock options have a 10-year term and a four-year vesting schedule with 25 percent of the underlying shares vesting on the first anniversary of the recipient’s first day of employment and in successive equal quarterly installments over the 36 months thereafter. The stock options have an exercise price of $26.40 per share, the closing trading price of Pacira common stock on the Nasdaq Global Select Market on the date of grant. Each restricted stock unit represents the contingent right to receive one share of Pacira common stock and the restricted stock unit awards vest annually in four equal installments beginning on June 1, 2026.

Vesting of the equity awards is subject to the employee’s continued employment with Pacira. Each equity award is also subject to the terms and conditions of an award agreement.

About Pacira

Pacira delivers innovative, non-opioid pain therapies to transform the lives of patients. Pacira has three commercial-stage non-opioid treatments: EXPAREL^® (bupivacaine liposome injectable suspension), a long-acting local analgesic currently approved for infiltration, fascial plane block, and as an interscalene brachial plexus nerve block, an adductor canal nerve block, and a sciatic nerve block in the popliteal fossa for postsurgical pain management; ZILRETTA^® (triamcinolone acetonide extended-release injectable suspension), an extended-release, intra-articular injection indicated for the management of osteoarthritis knee pain; and iovera_®º, a novel, handheld device for delivering immediate, long-acting, drug-free pain control using precise, controlled doses of cold temperature to a targeted nerve. The Company is also advancing the development of PCRX-201 (enekinragene inzadenovec), a novel, locally administered gene therapy with the potential to treat large prevalent diseases like osteoarthritis. To learn more about Pacira, visit www.pacira.com.

Investor Contact:
Susan Mesco, (973) 451-4030
susan.mesco@pacira.com

Media Contact:
Sara Marino, (973) 370-5430
sara.marino@pacira.com

FAQ

How many shares of PCRX stock were granted in the June 2025 inducement awards?

A total of 68,300 shares were granted, consisting of 26,700 shares as stock options and 41,600 shares as restricted stock units.

What is the exercise price for Pacira BioSciences stock options granted in June 2025?

The stock options were granted with an exercise price of $26.40 per share, which was the closing price of PCRX on the grant date.

What is the vesting schedule for PCRX's June 2025 inducement RSUs?

The restricted stock units vest annually in four equal installments beginning on June 1, 2026.

How long is the vesting period for Pacira BioSciences' June 2025 stock options?

The stock options have a four-year vesting schedule with 25% vesting after the first year and quarterly installments over the following 36 months.

How many new employees received inducement awards from PCRX in June 2025?

19 new employees received inducement awards, with 11 receiving stock options and 19 receiving restricted stock units.