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Pacira BioSciences, Inc. – ‘10-K’ for 12/31/21 – ‘EX-10.3’

On:  Monday, 2/28/22, at 4:26pm ET   ·   For:  12/31/21   ·   Accession #:  1396814-22-21   ·   File #:  1-35060

Previous ‘10-K’:  ‘10-K’ on 3/1/21 for 12/31/20   ·   Next:  ‘10-K’ on 2/28/23 for 12/31/22   ·   Latest:  ‘10-K’ on 2/29/24 for 12/31/23   ·   38 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/28/22  Pacira BioSciences, Inc.          10-K       12/31/21  128:17M

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        10-K - Pcrx - 12.31.2021                            HTML   1.80M 
 2: EX-4.4      Instrument Defining the Rights of Security Holders  HTML    497K 
 3: EX-4.5      Instrument Defining the Rights of Security Holders  HTML     51K 
 4: EX-10.3     Material Contract                                   HTML     44K 
 6: EX-10.36    Material Contract                                   HTML    276K 
 7: EX-10.37    Material Contract                                   HTML    161K 
 8: EX-10.38    Material Contract                                   HTML     38K 
 5: EX-10.4     Material Contract                                   HTML     45K 
 9: EX-21.1     Subsidiaries List                                   HTML     33K 
10: EX-23.1     Consent of Expert or Counsel                        HTML     31K 
11: EX-31.1     Certification -- §302 - SOA'02                      HTML     35K 
12: EX-31.2     Certification -- §302 - SOA'02                      HTML     35K 
13: EX-32.1     Certification -- §906 - SOA'02                      HTML     33K 
19: R1          Cover                                               HTML     96K 
20: R2          Audit Information                                   HTML     36K 
21: R3          Consolidated Balance Sheets                         HTML    155K 
22: R4          Consolidated Balance Sheets (Parenthetical)         HTML     49K 
23: R5          Consolidated Statements of Operations               HTML    132K 
24: R6          Consolidated Statements of Comprehensive Income     HTML     58K 
                (Loss)                                                           
25: R7          Consolidated Statements of Stockholders' Equity     HTML    118K 
26: R8          Consolidated Statements of Stockholders' Equity     HTML     33K 
                (Parenthetical)                                                  
27: R9          Consolidated Statements of Cash Flows               HTML    166K 
28: R10         Description of Business                             HTML     39K 
29: R11         Summary of Significant Accounting Policies          HTML     80K 
30: R12         Recent Accounting Pronouncements                    HTML     49K 
31: R13         Revenue                                             HTML     88K 
32: R14         Acquisitions                                        HTML     79K 
33: R15         Inventories                                         HTML     40K 
34: R16         Fixed Assets                                        HTML     46K 
35: R17         Leases                                              HTML     60K 
36: R18         Goodwill and Intangible Assets                      HTML     62K 
37: R19         Accrued Expenses                                    HTML     45K 
38: R20         Debt                                                HTML    110K 
39: R21         Financial Instruments                               HTML    122K 
40: R22         Stockholders' Equity                                HTML     56K 
41: R23         Stock Plans                                         HTML    138K 
42: R24         Net Income (Loss) Per Share                         HTML     64K 
43: R25         Income Taxes                                        HTML    117K 
44: R26         Employee Benefit Plans                              HTML     38K 
45: R27         Acquisition-Related Charges and Product             HTML     60K 
                Discontinuation, Net                                             
46: R28         Commercial Partners and Other Agreements            HTML     44K 
47: R29         Related Party Transactions                          HTML     34K 
48: R30         Commitments and Contingencies                       HTML     50K 
49: R31         Subsequent Events                                   HTML     33K 
50: R32         Summary of Significant Accounting Policies          HTML    151K 
                (Policies)                                                       
51: R33         Summary of Significant Accounting Policies          HTML     60K 
                (Tables)                                                         
52: R34         Revenue (Tables)                                    HTML     78K 
53: R35         Acquisitions (Tables)                               HTML     69K 
54: R36         Inventories (Tables)                                HTML     41K 
55: R37         Fixed Assets (Tables)                               HTML     47K 
56: R38         Leases (Tables)                                     HTML     60K 
57: R39         Goodwill and Intangible Assets (Tables)             HTML     62K 
58: R40         Accrued Expenses (Tables)                           HTML     43K 
59: R41         Debt (Tables)                                       HTML     79K 
60: R42         Financial Instruments (Tables)                      HTML    113K 
61: R43         Stockholders' Equity (Tables)                       HTML     51K 
62: R44         Stock Plans (Tables)                                HTML    145K 
63: R45         Net Income (Loss) Per Share (Tables)                HTML     65K 
64: R46         Income Taxes (Tables)                               HTML    113K 
65: R47         Acquisition-Related Charges and Product             HTML     50K 
                Discontinuation, Net (Tables)                                    
66: R48         Description of Business (Details)                   HTML     35K 
67: R49         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -        HTML     47K 
                Concentration of Major Customers (Details)                       
68: R50         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Fixed   HTML     42K 
                Assets (Details)                                                 
69: R51         SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -        HTML     51K 
                Narrative (Details)                                              
70: R52         Recent Accounting Pronouncements (Details)          HTML     42K 
71: R53         REVENUE - Sales and Valuation Accruals (Details)    HTML     56K 
72: R54         REVENUE - Narrative (Details)                       HTML     36K 
73: R55         REVENUE- Disaggregation (Details)                   HTML     45K 
74: R56         ACQUISITIONS - Narrative (Details)                  HTML    106K 
75: R57         ACQUISITIONS - Contingent Consideration Flexion     HTML     47K 
                Acquisition (Details)                                            
76: R58         ACQUISITIONS - Schedule of Assets and Liabilities   HTML     87K 
                Acquired (Details)                                               
77: R59         ACQUISITIONS - Flexion Results (Details)            HTML     37K 
78: R60         ACQUISITIONS - Schedule of Pro Forma Information    HTML     42K 
                (Details)                                                        
79: R61         INVENTORIES - Components of Inventory (Details)     HTML     41K 
80: R62         FIXED ASSETS - Schedule of Useful Lives (Details)   HTML     51K 
81: R63         FIXED ASSETS - Narrative (Details)                  HTML     45K 
82: R64         LEASES - Narrative (Details)                        HTML     41K 
83: R65         LEASES - Summary of operating lease cost and other  HTML     48K 
                operating lease information (Details)                            
84: R66         LEASES - Schedule of maturities of operating lease  HTML     50K 
                liabilities (Details)                                            
85: R67         GOODWILL AND INTANGIBLE ASSETS - Goodwill           HTML     43K 
                (Details)                                                        
86: R68         GOODWILL AND INTANGIBLE ASSETS - Narrative          HTML     60K 
                (Details)                                                        
87: R69         GOODWILL AND INTANGIBLE ASSETS - Intangible Assets  HTML     55K 
                (Details)                                                        
88: R70         Accrued Expenses (Details)                          HTML     54K 
89: R71         DEBT - Carrying Value of Debt (Details)             HTML     57K 
90: R72         DEBT - Narrative (Details)                          HTML    264K 
91: R73         DEBT - Schedule of Debt (Details)                   HTML     62K 
92: R74         DEBT - Schedule of Interest Expense (Details)       HTML     48K 
93: R75         FINANCIAL INSTRUMENTS - Fair Value of Liabilities   HTML     96K 
                Measured on a Recurring Basis (Details)                          
94: R76         FINANCIAL INSTRUMENTS - Narrative (Details)         HTML    141K 
95: R77         FINANCIAL INSTRUMENTS - Schedule of Fair Value      HTML     49K 
                Inputs and Valuation (Details)                                   
96: R78         FINANCIAL INSTRUMENTS - Contingent Consideration    HTML     42K 
                Rollforward (Details)                                            
97: R79         FINANCIAL INSTRUMENTS - Schedule of Investments at  HTML     62K 
                Amortized Cost and Fair Value (Details)                          
98: R80         STOCKHOLDERS' EQUITY - Narrative (Details)          HTML     44K 
99: R81         Stockholders' Equity - Aoci (Details)               HTML     51K 
100: R82         STOCK PLANS - Narrative (Details)                   HTML     61K  
101: R83         STOCK PLANS - Stock Incentive Plans (Details)       HTML     52K  
102: R84         STOCK PLANS - Compensation Expense (Details)        HTML     50K  
103: R85         STOCK PLANS - Stock Option Activity (Details)       HTML     93K  
104: R86         STOCK PLANS - Valuation Assumptions (Details)       HTML     56K  
105: R87         STOCK PLANS - RSU Activity (Details)                HTML     61K  
106: R88         Net Income (LOSS) PER SHARE - Calculation           HTML     81K  
                (Details)                                                        
107: R89         Net Income (LOSS) PER SHARE - Antidilutive          HTML     41K  
                Securities (Details)                                             
108: R90         INCOME TAXES - Narrative (Details)                  HTML    110K  
109: R91         INCOME TAXES - Current and Deferred Income Taxes    HTML     66K  
                (Details)                                                        
110: R92         INCOME TAXES - Reconciliation of Effective Tax      HTML     62K  
                Rate (Details)                                                   
111: R93         INCOME TAXES - Deferred Tax Assets and Liabilities  HTML     64K  
                (Details)                                                        
112: R94         INCOME TAXES - Unrecognized Tax Benefits (Details)  HTML     38K  
113: R95         Employee Benefit Plans (Details)                    HTML     48K  
114: R96         ACQUISITION-RELATED CHARGES AND PRODUCT             HTML     59K  
                DISCONTINUATION, NET - Product Discontinuance                    
                (Details)                                                        
115: R97         ACQUISITION-RELATED CHARGES AND PRODUCT             HTML     46K  
                DISCONTINUATION, NET - Flexion (Details)                         
116: R98         ACQUISITION-RELATED CHARGES AND PRODUCT             HTML     43K  
                DISCONTINUATION, NET - MyoScience (Details)                      
117: R99         Acquisition-Related Charges and Product             HTML     35K  
                Discontinuation, Net - Nuance (Details)                          
118: R100        ACQUISITION-RELATED CHARGES AND PRODUCT             HTML     36K  
                DISCONTINUATION, NET - DepoCyte Discontinuation                  
                (Details)                                                        
119: R101        ACQUISITION-RELATED CHARGES AND PRODUCT             HTML     33K  
                DISCONTINUATION, NET - Department of Justice                     
                (Details)                                                        
120: R102        Commercial Partners and Other Agreements (Details)  HTML     57K  
121: R103        Related Party Transactions (Details)                HTML     41K  
122: R104        Commitments and Contingencies (Details)             HTML     67K  
123: R105        Subsequent Events (Details)                         HTML     44K  
126: XML         IDEA XML File -- Filing Summary                      XML    225K  
124: XML         XBRL Instance -- pcrx-20211231_htm                   XML   3.44M  
125: EXCEL       IDEA Workbook of Financial Reports                  XLSX    176K  
15: EX-101.CAL  XBRL Calculations -- pcrx-20211231_cal               XML    315K 
16: EX-101.DEF  XBRL Definitions -- pcrx-20211231_def                XML   1.42M 
17: EX-101.LAB  XBRL Labels -- pcrx-20211231_lab                     XML   2.82M 
18: EX-101.PRE  XBRL Presentations -- pcrx-20211231_pre              XML   1.84M 
14: EX-101.SCH  XBRL Schema -- pcrx-20211231                         XSD    293K 
127: JSON        XBRL Instance as JSON Data -- MetaLinks              640±   929K  
128: ZIP         XBRL Zipped Folder -- 0001396814-22-000021-xbrl      Zip   1.07M  


‘EX-10.3’   —   Material Contract


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Exhibit 10.3
PACIRA BIOSCIENCES, INC.
Nonstatutory Stock Option Agreement
Granted Under Amended and Restated 2011 Stock Incentive Plan

1. Grant of Option.

This agreement evidences the grant by Pacira BioSciences, Inc., a Delaware corporation (the “Company”), on [GRANT DATE] (the “Grant Date”) to [PARTICIPANT NAME], (the “Participant”), of an option to purchase, in whole or in part, on the terms provided herein and in the Company’s Amended and Restated 2011 Stock Incentive Plan (the “Plan”), a total of [NUMBER OF AWARDS GRANTED] shares (the “Shares”) of common stock, $0.001 par value per share, of the Company (“Common Stock”) at $[GRANT PRICE] per Share. Unless earlier terminated, this option shall expire at 5:00 p.m., Pacific time, on [EXPIRATION DATE] (the “Final Exercise Date”).

It is intended that the option evidenced by this agreement shall not be an incentive stock option as defined in Section 422 of the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the “Code”). Except as otherwise indicated by the context, the term “Participant”, as used in this option, shall be deemed to include any person who acquires the right to exercise this option validly under its terms.

2. Vesting Schedule.

The option shares vest as follows: 25% of the option shares vest upon the one-year anniversary of the “Vesting Commencement Date” and 6.25% of the option shares vest every three-months thereafter.

The right of exercise shall be cumulative so that to the extent the option is not exercised in any period to the maximum extent permissible it shall continue to be exercisable, in whole or in part, with respect to all Shares for which it is vested until the earlier of the Final Exercise Date or the termination of this option under Section 3 hereof or the Plan.

3. Exercise of Option.

(a)    Form of Exercise. Each election to exercise this option shall be in writing, signed by the Participant, and received by the Company at its principal office, accompanied by this agreement, and payment in full in the manner provided in the Plan. The Participant may purchase less than the number of Shares covered hereby, provided that no partial exercise of this option may be for any fractional share or for the lesser of (i) fifty (50) whole shares or (ii) the amount of unexercised option shares remaining under this option.

(b)     Continuous Relationship with the Company Required. Except as otherwise provided in this Section 3, this option may not be exercised unless the Participant, at the time he or she exercises this option, is, and has been at all times since the Grant Date, an employee, officer or director of, or consultant or advisor to, the Company or any other entity the employees, officers, directors, consultants, or advisors of which are eligible to receive option grants under the Plan (an “Eligible Participant”).



(c)    Termination of Relationship with the Company. If the Participant ceases to be an Eligible Participant for any reason, then, except as provided in paragraphs (d) and (e) below, the right to exercise this option shall terminate three months after such cessation (but in no event after the Final Exercise Date), provided that this option shall be exercisable only to the extent that the Participant was entitled to exercise this option on the date of such cessation. Notwithstanding the foregoing, if the Participant, prior to the Final Exercise Date, violates the non-competition or confidentiality provisions of any employment contract, confidentiality and nondisclosure agreement or other agreement between the Participant and the Company, the right to exercise this option shall terminate immediately upon such violation.

(d)     Exercise Period Upon Death or Disability. If the Participant dies or becomes disabled (within the meaning of Section 22(e)(3) of the Code) prior to the Final Exercise Date while he or she is an Eligible Participant and the Company has not terminated such relationship for “cause” as specified in paragraph (e) below, this option shall be exercisable, within the period of three years following the date of death or disability of the Participant, by the Participant (or in the case of death by an authorized transferee), provided that this option shall be exercisable only to the extent that this option was exercisable by the Participant on the date of his or her death or disability, and further provided that this option shall not be exercisable after the Final Exercise Date.

(e)    Termination for Cause. If, prior to the Final Exercise Date, the Participant’s employment or other relationship with the Company is terminated by the Company for Cause (as defined below), the right to exercise this option shall terminate immediately upon the effective date of such termination of employment or other relationship. If, prior to the Final Exercise Date, the Participant is given notice by the Company of the termination of his or her employment or other relationship by the Company for Cause, and the effective date of such employment or other termination is subsequent to the date of the delivery of such notice, the right to exercise this option shall be suspended from the time of the delivery of such notice until the earlier of (i) such time as it is determined or otherwise agreed that the Participant’s employment or other relationship shall not be terminated for Cause as provided in such notice or (ii) the effective date of such termination of employment or other relationship (in which case the right to exercise this option shall, pursuant to the preceding sentence, terminate upon the effective date of such termination of employment or other relationship). If the Participant is party to an employment, consulting or severance agreement with the Company that contains a definition of “cause” for termination of employment or other relationship, “Cause” shall have the meaning ascribed to such term in such agreement. Otherwise, “Cause” shall mean willful misconduct by the Participant or willful failure by the Participant to perform his or her responsibilities to the Company (including, without limitation, breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure or other similar agreement between the Participant and the Company), as determined by the Company, which determination shall be conclusive. The Participant’s employment or other relationship shall be considered to have been terminated for “Cause” if the Company determines, within 30 days after the Participant’s resignation, that termination for Cause was warranted.







4. Withholding.

No Shares will be issued pursuant to the exercise of this option unless and until the Participant pays to the Company, or makes provision satisfactory to the Company for payment of, any federal, state or local withholding taxes required by law to be withheld in respect of this option.

5. Transfer Restrictions.

This option may not be sold, assigned, transferred, pledged or otherwise encumbered by the Participant, either voluntarily or by operation of law, except by will or the laws of descent and distribution, and, during the lifetime of the Participant, this option shall be exercisable only by the Participant; provided, however, that the Participant may transfer this option gratuitously to or for the benefit of any immediate family member of the Participant, family trust or other entity established for the benefit of the Participant and/or an immediate family member of the Participant if the Company would be eligible to use a Form S-8 under the Securities Act for the registration of the sale of the Shares to such proposed transferee; provided further, that the Company will not be required to recognize any such permitted transfer until such time as such permitted transferee, as a condition to such transfer, delivers to the Company a written instrument in form and substance satisfactory to the Company confirming that such transferee will be bound by all the terms and conditions of this option.

6. Provisions of the Plan.

This option is subject to the provisions of the Plan (including the provisions relating to amendments to the Plan), a copy of which is furnished to the Participant with this option.










[SIGNATURE PAGE FOLLOWS]



IN WITNESS WHEREOF, the Company has caused this option to be executed under its corporate seal by its duly authorized officer. This option shall take effect as a sealed instrument.

PACIRA BIOSCIENCES, INC.

By: ___________________________________

Name: ________________________________

Title: _________________________________

The undersigned hereby accepts the foregoing option and agrees to the terms and conditions thereof. The undersigned hereby acknowledges receipt of a copy of the Company’s Amended and Restated 2011 Stock Incentive Plan.

PARTICIPANT:

By: ___________________________________

Name: _________________________________


























SIGNATURE PAGE TO NONSTATUTORY STOCK OPTION AGREEMENT


6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/29/24  Pacira BioSciences, Inc.          10-K       12/31/23  123:17M
 2/28/23  Pacira BioSciences, Inc.          10-K       12/31/22  118:16M
11/03/22  Pacira BioSciences, Inc.          10-Q        9/30/22   90:11M
 8/04/22  Pacira BioSciences, Inc.          S-8         8/04/22    5:116K
 8/03/22  Pacira BioSciences, Inc.          10-Q        6/30/22   90:10M
 5/04/22  Pacira BioSciences, Inc.          10-Q        3/31/22   92:9.5M


32 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/09/21  Pacira BioSciences, Inc.          8-K:1,2,8,912/06/21   12:1.4M                                   Toppan Merrill/FA
11/19/21  Flexion Therapeutics Inc.         8-K:1,2,3,511/19/21   13:374K                                   Toppan Merrill/FA
11/19/21  Pacira BioSciences, Inc.          8-K:1,2,8,911/19/21   12:452K                                   Toppan Merrill/FA
10/12/21  Pacira BioSciences, Inc.          8-K:1,2,7,910/11/21   17:3.7M                                   Toppan Merrill/FA
 6/11/21  Pacira BioSciences, Inc.          8-K:5,9     6/08/21   11:296K                                   Toppan Merrill/FA
 3/01/21  Pacira BioSciences, Inc.          10-K       12/31/20  113:13M
12/07/20  Pacira BioSciences, Inc.          8-K:5,9    12/04/20   13:254K
 7/10/20  Pacira BioSciences, Inc.          8-K:1,2,3,8 7/10/20   13:1.1M                                   Toppan Merrill/FA
 6/11/20  Pacira BioSciences, Inc.          8-K:5,9     6/05/20   11:331K                                   Toppan Merrill/FA
 5/07/20  Pacira BioSciences, Inc.          10-Q        3/31/20   87:8.1M
 2/21/20  Pacira BioSciences, Inc.          10-K       12/31/19  101:13M
 5/02/19  Pacira BioSciences, Inc.          10-Q        3/31/19   80:6.9M
 4/09/19  Pacira BioSciences, Inc.          8-K:2,5,8,9 4/09/19    4:190K                                   Toppan Merrill/FA
 3/05/19  Pacira BioSciences, Inc.          8-K:1,8,9   3/04/19    3:914K                                   Toppan Merrill/FA
 5/02/17  Flexion Therapeutics Inc.         8-K:1,2,3,8 5/02/17    5:714K                                   Donnelley … Solutions/FA
 3/13/17  Pacira BioSciences, Inc.          8-K:1,2,3,8 3/07/17    2:910K                                   Toppan Merrill/FA
 8/04/16  Pacira BioSciences, Inc.          10-Q        6/30/16   68:5.5M
 2/25/16  Pacira BioSciences, Inc.          10-K       12/31/15   87:10M                                    Workiva Inc Wde… FA01/FA
 7/30/15  Pacira BioSciences, Inc.          10-Q        6/30/15   72:5.7M
 4/30/15  Pacira BioSciences, Inc.          10-Q        3/31/15   69:5.9M
10/30/14  Pacira BioSciences, Inc.          10-Q        9/30/14   66:6.4M
 7/31/14  Pacira BioSciences, Inc.          10-Q        6/30/14   68:7.8M
 6/04/14  Pacira BioSciences, Inc.          8-K:5,9     6/03/14    4:292K                                   Toppan Merrill/FA
 5/01/14  Pacira BioSciences, Inc.          10-Q        3/31/14   66:5.3M
10/31/13  Pacira BioSciences, Inc.          10-Q        9/30/13   64:6.5M                                   Workiva Inc.
 3/18/13  Pacira BioSciences, Inc.          8-K:1,5,9   3/13/13    8:584K                                   Toppan Merrill/FA
11/01/12  Pacira BioSciences, Inc.          10-Q        9/30/12   60:6.7M                                   Toppan Merrill/FA
 5/09/12  Pacira BioSciences, Inc.          10-Q        3/31/12   36:3.4M                                   Toppan Merrill/FA
10/31/11  Pacira BioSciences, Inc.          10-Q        9/30/11   34:4.4M                                   Toppan Merrill/FA
 2/11/11  Pacira BioSciences, Inc.          8-K:5,9     2/08/11    3:188K                                   Donnelley … Solutions/FA
 1/13/11  Pacira BioSciences, Inc.          S-1/A¶                16:5.1M                                   Donnelley … Solutions/FA
12/03/10  Pacira BioSciences, Inc.          S-1/A¶                25:7.1M                                   Donnelley … Solutions/FA
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