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Pacira BioSciences Gains Backing for Board Nominees from ISS

Pacira BioSciences, Inc., prominently recognized for its commitment to innovative, non-opioid pain relief solutions, is gearing up for its Annual Meeting of Stockholders on June 9, 2026. In light of this forthcoming event, the company has welcomed a significant recommendation from Institutional Shareholder Services (ISS), an independent proxy advisory firm. ISS has advised stockholders to cast their votes in favor of all three of Pacira's director nominees: Christopher Christie, Samit Hirawat, MD, and Thomas Wiggans, while urging a rejection of the nominees put forth by DOMA Perpetual Capital Management.

The advisory recommendation underscores ISS's assessment that Pacira has seen notable performance enhancements since implementing its '5x30' growth strategy aimed at maximizing shareholder value. ISS highlighted the proactive stance taken by Pacira's refreshed Board of Directors, which comprises highly qualified individuals with relevant industry and governance expertise. In contrast, the advisory noted that DOMA has failed to deliver a convincing argument for its proposed changes.

Key Insights from ISS Report

In their detailed report, ISS elaborated on several pivotal aspects regarding Pacira's management.

• - Performance and Board Composition: The advisory emphasized the board's effective oversight and strategic guidance, demonstrating its capability in aligning decisions with shareholder interests.
• - Response to Challenges: Pacira's Board is praised for identifying challenges proactively, ensuring the company remains on course for its strategic objectives, particularly as it faces an important stage in its turnaround efforts.
• - Governance Adjustments: ISS commended the board for essential governance reforms, highlighting the separation of the roles of CEO and Chair, a critical step in maintaining accountability following the appointment of Frank Lee as CEO.
• - Nominee Qualifications: The board's composition has undergone positive transformation, with seven out of ten directors having either been recently appointed or proposed for election since October 2023, each boasting pertinent experience to support the company's strategic ambitions.

On the other hand, ISs noted that DOMA's platform appears overly simplistic, lacking a comprehensive strategy. They criticized the qualifications of DOMA's nominees, stating none have public board experience and doubtful qualifications that would avoid disruption during this crucial phase of recovery for Pacira.

Pacira's Response and Stockholder Encouragement

Pacira responded positively to the ISS recommendation, perceiving it as validation of their efforts to cultivate a robust board capable of guiding long-term strategies and sustaining organizational growth.
The company has urged all stockholders to heed the advice of ISS alongside that of Glass Lewis, another respected proxy advisory firm, by voting for their nominated directors using the BLUE proxy card. Stockholders are being encouraged to disregard any conflicting materials, particularly any white proxy cards that may arrive from DOMA.

Significance of the Upcoming Annual Meeting

This Annual Meeting is a critical juncture for Pacira BioSciences, as it looks to maintain momentum with its '5x30' growth strategy. Investors are reminded that every vote matters, irrespective of their shareholdings, and are strongly advised to participate by following the straightforward instructions provided on their proxy materials.
Should stockholders need any guidance on how to vote, they can reach out to Pacira's proxy solicitor D.F. King Co., Inc. for assistance.

About Pacira BioSciences

Founded with the mission of transforming patient experiences through innovative, non-opioid therapies, Pacira BioSciences has successfully brought several products onto the market. Their offerings include EXPAREL®, ZILRETTA®, and iovera°®, all designed to facilitate effective pain management while minimizing reliance on opioids. Additionally, the company is advancing a pipeline aimed at managing musculoskeletal pain, including its promising candidate, PCRX-201, which is entering Phase 2 trials.

In summary, as Pacira approaches its Annual Meeting, the favorable recommendation from ISS could reinforce investor confidence and support the company’s objective to prioritize sustainable growth while advocating for effective governance practices.