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

Rhea-AI Summary

Pacira BioSciences (PCRX) has granted inducement awards to six new employees on March 4, 2025, under its Amended and Restated 2014 Inducement Plan. The awards include:

• Stock options for 23,500 shares granted to five employees, with a 10-year term and exercise price of $23.53 per share
• 29,400 restricted stock units (RSUs) distributed among six employees

The stock options follow a four-year vesting schedule with 25% vesting on first employment anniversary and quarterly installments over 36 months thereafter. RSUs vest annually in four equal installments starting March 1, 2026. All awards require continued employment and were approved by the Compensation Committee under Nasdaq Listing Rule 5635(c)(4).

PARSIPPANY, N.J., March 06, 2025 (GLOBE NEWSWIRE) -- Pacira BioSciences, Inc. (Nasdaq: PCRX), the industry leader in the delivery of innovative, non-opioid pain therapies, today announced the granting of inducement awards on March 4, 2025 to six 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 Compensation Committee of the Board of Directors (the “Committee”) without stockholder approval.

Five employees received stock options to purchase an aggregate of 23,500 shares of Pacira common stock and six employees received restricted stock units for an aggregate of 29,400 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 $23.53 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 March 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 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, 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.

FAQ

What is the vesting schedule for Pacira BioSciences (PCRX) inducement stock options granted in March 2025?

The stock options vest over 4 years: 25% after first year, then quarterly installments over 36 months.

How many shares were included in PCRX's March 2025 inducement awards?

Total of 52,900 shares: 23,500 as stock options and 29,400 as restricted stock units.

What is the exercise price for PCRX's March 2025 inducement stock options?

The exercise price is $23.53 per share, based on PCRX's closing price on the grant date.

When do the restricted stock units (RSUs) granted by PCRX in March 2025 begin vesting?

The RSUs begin vesting on March 1, 2026, in four equal annual installments.