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

Rhea-AI Summary

Pacira BioSciences (PCRX) has granted inducement awards to 18 new employees on April 2, 2025, under its Amended and Restated 2014 Inducement Plan. The awards include:

• Stock options for 23,100 shares granted to 9 employees, with a 10-year term and exercise price of $24.89 per share
• Restricted stock units (RSUs) for 43,400 shares granted to 18 employees

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

BRISBANE, Calif., April 11, 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 April 2, 2025 to 18 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.

Nine employees received stock options to purchase an aggregate of 23,100 shares of Pacira common stock and 18 employees received restricted stock units for an aggregate of 43,400 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 $24.89 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 April 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, 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

What type of inducement awards did Pacira BioSciences (PCRX) grant to new employees in April 2025?

PCRX granted two types of awards: stock options for 23,100 shares to 9 employees and restricted stock units for 43,400 shares to 18 employees.

What is the vesting schedule for PCRX's April 2025 stock option inducement grants?

The stock options vest over 4 years, with 25% vesting after year one and the remainder vesting quarterly over the next 36 months.

What is the exercise price for Pacira's April 2025 inducement stock options?

The stock options have an exercise price of $24.89 per share, based on PCRX's closing price on the grant date.

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

The RSUs vest annually in four equal installments, beginning on April 1, 2026.