secwatch.observer — SEC 8-K summary
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Issuer:     PACIFIC BIOSCIENCES OF CALIFORNIA, INC. (PACB)
CIK:        0001299130
Form:       8-K
Filed at:   2025-03-27T23:59:59+00:00
Accession:  0001299130-25-000072
Event type: leadership
Sentiment:  positive
Materiality: 0.50
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PacBio appoints Jim Gibson as CFO, effective March 31, 2025
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- Jim Gibson appointed CFO effective March 31, 2025; Christian Henry ceases as interim CFO.
- Gibson previously CFO at Sequoia and Willow Innovations; held exec roles at GoDaddy, Tesla, Apple, Netflix.
- Compensation: $500k base salary, 55% target bonus, 2M stock options, 1M RSUs with standard vesting.
- Severance provides 12 months salary and COBRA; change-in-control triggers full equity acceleration.
- PacBio targets positive cash flows by end of 2027, per press release announcing Gibson's hiring.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1299130/000129913025000072/0001299130-25-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1299130/000129913025000072/pacb-20250324.htm
  HTML page:      https://secwatch.observer/filing/0001299130-25-000072

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer