secwatch.observer — SEC 8-K summary
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Issuer:     Pacira BioSciences, Inc. (PCRX)
CIK:        0001396814
Form:       8-K
Filed at:   2023-09-26T23:59:59+00:00
Accession:  0001396814-23-000048
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pacira CEO David Stack to retire; board initiates search for successor
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- Stack will remain as CEO until successor is appointed, then serve as consultant through August 2025.
- Entitled to base salary through Sept 1, 2024; continues equity vesting and bonus eligibility for 2023-2024.
- Board retains Klein Hersh International to lead comprehensive CEO search.
- Transition agreement includes non-disparagement, cooperation, indemnification, and consulting fee of $20k/month for up to 15 hours.
- Press release issued September 26, 2023; retirement effective upon appointment of new CEO.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1396814/000139681423000048/0001396814-23-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1396814/000139681423000048/pcrx-20230920.htm
  HTML page:      https://secwatch.observer/filing/0001396814-23-000048

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