Cross Shawn 4

What Happened
Shawn Cross, Chief Financial Officer of Pacira BioSciences (PCRX), exercised a total of 12,059 stock options and immediately sold the 12,059 shares over April 20–22, 2026. He exercised: 7,714 shares on 4/20, 2,845 on 4/21 and 1,500 on 4/22 at a strike price of $16.45 (total exercise cost ≈ $198,370). He sold those shares for aggregate gross proceeds of ≈ $302,598 (weighted average sale prices ~ $25.01–$25.14), generating a pre-tax difference of about $104,228 between sale proceeds and exercise cost. The exercises and sales were effected under a Rule 10b5-1 trading plan.

Key Details

• Transaction dates/prices:
  • 2026-04-20: exercised 7,714 options @ $16.45 (paid $126,895); sold 7,714 shares @ weighted avg $25.14 (proceeds $193,930). Sale prices ranged $25.00–$25.31 (F2).
  • 2026-04-21: exercised 2,845 options @ $16.45 (paid $46,800); sold 2,845 shares @ weighted avg $25.01 (proceeds $71,153). Sale prices ranged $25.00–$25.04 (F3).
  • 2026-04-22: exercised 1,500 options @ $16.45 (paid $24,675); sold 1,500 shares @ $25.01 (proceeds $37,515).
• Total: 12,059 options exercised (total exercise cost ≈ $198,370) and 12,059 shares sold (total proceeds ≈ $302,598).
• Shares owned after the transactions: not specified in the excerpt of the filing.
• Notable footnotes: transactions were made pursuant to a Rule 10b5-1 trading plan adopted June 9, 2025 (F1). Sale prices reported as weighted averages and ranges disclosed (F2, F3). Vesting schedule for the option grant described (F4).
• Filing timeliness: Reported on Form 4 filed 2026-04-22 for transactions beginning 2026-04-20 — filed within the typical two-business-day reporting window.

Context

• This was an exercise of stock options followed by immediate sales (commonly a cashless outcome): the Form 4 shows both the option exercises and the subsequent open-market sales. The derivative lines with $0.00 price reflect the conversion of option interests into shares as part of the exercise.
• Because the sales were executed under a pre-established 10b5-1 plan, they were likely automatic and pre-arranged rather than discretionary trades made at the time of sale. This is routine insider liquidity activity and should not be interpreted as a definitive signal of company outlook.