PARSIPPANY, N.J.--(BUSINESS WIRE)--Apr. 15, 2014--
Pacira Pharmaceuticals, Inc. (NASDAQ: PCRX) today announced that on
April 15, 2014, it approved the grant of stock options to 17 new
employees to purchase an aggregate of 81,000 shares of common stock. The
stock options were granted as inducements material to the new employees
entering into employment with Pacira, as permitted under NASDAQ Listing
Rule 5635(c)(4).
Pacira granted to 17 new non-executive employees an option to purchase
shares of its common stock with an exercise price equal to $64.21, the
closing price per share of Pacira common stock as reported by NASDAQ on
April 15, 2014, the date of the grant. Each of the options has a ten
year term and, subject to continued employment with Pacira, will vest
with respect to one-quarter of the underlying shares on the first
anniversary of the employee’s commencement of employment with Pacira and
then in successive equal monthly installments over the thirty-six (36)
months thereafter.
About Pacira
Pacira Pharmaceuticals, Inc. (NASDAQ: PCRX) is a specialty
pharmaceutical company focused on the clinical and commercial
development of new products that meet the needs of acute care
practitioners and their patients. The company’s current emphasis is the
development of non-opioid products for postsurgical pain control, and
its lead product, EXPAREL® (bupivacaine liposome injectable suspension),
was commercially launched in the United States in April 2012. EXPAREL
and two other products have utilized the Pacira proprietary product
delivery technology DepoFoam®, a unique platform that encapsulates drugs
without altering their molecular structure and then releases them over a
desired period of time. Additional information about Pacira is available
at www.pacira.com.
Source: Pacira Pharmaceuticals, Inc.
Pacira Pharmaceuticals, Inc.
Jessica Cho, 973-254-3574
