Form 4: Pacira CFO Sells Shares Under 10b5-1 Plan

Pacira BioSciences' Chief Financial Officer, Shawn Cross, executed pre-planned sales of common stock totaling 25,000 shares after exercising stock options.

Summary

• Shawn Cross, Chief Financial Officer of Pacira BioSciences, Inc. (PCRX), reported transactions involving the exercise of stock options and subsequent sale of common stock.
• All transactions were executed pursuant to a Rule 10b5-1 trading plan, which was previously adopted by Mr. Cross.
• On December 9, 2025, Mr. Cross exercised options to acquire 15,896 shares of common stock at an exercise price of $16.45 per share.
• Immediately following the option exercise on December 9, 2025, Mr. Cross sold 15,896 shares of common stock at a weighted average price of $25.03 per share, with individual sales ranging from $25.00 to $25.11.
• On December 10, 2025, Mr. Cross exercised options to acquire an additional 9,104 shares of common stock at an exercise price of $16.45 per share.
• Following this second option exercise on December 10, 2025, Mr. Cross sold 9,104 shares of common stock at a weighted average price of $25.14 per share, with individual sales ranging from $25.00 to $25.30.
• After these transactions, Mr. Cross beneficially owns 56,250 shares of common stock and 175,000 stock options.
• The stock options vested as to 25% on the first anniversary of the grant date, with the remainder vesting in successive equal quarterly installments over the subsequent three years, contingent on continuous service.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions (option exercise and sale) under a pre-established 10b5-1 plan, which is generally neutral in sentiment.

Positives

• The CFO successfully monetized a portion of his equity compensation, selling shares at prices significantly above the exercise price ($25.03 and $25.14 vs. $16.45).
• The transactions were conducted under a pre-established Rule 10b5-1 trading plan, indicating a pre-scheduled and non-discretionary sale, which can mitigate concerns about opportunistic insider selling.

Negatives

• The sale of 25,000 shares by a key executive, even under a 10b5-1 plan, represents a reduction in direct insider ownership, which some investors might interpret cautiously.

Future Outlook

No specific future outlook or guidance is provided in this insider transaction report.

Management Comments

• The option exercises and sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.

Industry Context

Executive equity compensation, including stock options, is a standard practice in the biotechnology and pharmaceutical industries, aligning management incentives with shareholder value. The use of Rule 10b5-1 plans for pre-scheduled sales is also common, providing a legal framework for insiders to sell shares without concerns of trading on material non-public information.

Comparison to Industry Standards

• Not applicable as this filing reports individual insider trading activity rather than company-wide financial or operational results that would be benchmarked against industry standards.

Stakeholder Impact

• Shareholders: May observe a slight reduction in direct insider ownership, though the pre-planned nature of the sale under Rule 10b5-1 typically mitigates negative interpretations.

Key Dates

Recommendation

The filing details routine insider transactions (option exercise and subsequent sale of shares) by the CFO under a pre-established 10b5-1 trading plan. Such transactions are common for executive compensation and typically do not indicate a change in the company's fundamental outlook or warrant a shift in investment recommendation based solely on this report.

Keywords

Pacira BioSciences, PCRX, Form 4, Insider Trading, Shawn Cross, CFO, Stock Option Exercise, Share Sale, 10b5-1 Plan