---
schema_version: "secwatch.filing_event.v1"
accession: "0001299130-26-000053"
form_type: "8-K"
ticker: "PACB"
cik: "0001299130"
company_name: "PACIFIC BIOSCIENCES OF CALIFORNIA, INC."
filed_at: "2026-03-06T23:59:59+00:00"
generated_at: "2026-05-15T18:34:41.371050+00:00"
event_type: "litigation"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001299130-26-000053
- form_type: 8-K
- ticker: PACB
- cik: 0001299130
- company_name: PACIFIC BIOSCIENCES OF CALIFORNIA, INC.
- filed_at: 2026-03-06T23:59:59+00:00
- event_type: litigation
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1299130/000129913026000053/0001299130-26-000053-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1299130/000129913026000053/pacb-20260302.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001299130-26-000053
- JSON: https://secwatch.observer/filing/0001299130-26-000053.json
- Plain text: https://secwatch.observer/filing/0001299130-26-000053.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.