PACB settles patent lawsuit with PGI, will pay $23M to $25M; CAO resigns

PACIFIC BIOSCIENCES OF CALIFORNIA, INC.

Michele Farmer resigns as CAO effective March 21, 2026; no severance or disagreement.
CFO Jim Gibson assumes principal accounting officer role; no compensation change.
Binding term sheet with Personal Genomics of Taiwan (PGI) resolves all patent claims and counterclaims.
PACB receives worldwide non-exclusive license to US Patent 7,767,441 and 5.5-year covenant not to sue.
Payments: $8M in Q1 2026, then $5M each Q1 of 2027-2029; 2027 payment may rise up to $2M if revenue thresholds met.

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