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STOCK PLANS
 6 Months Ended
Jun. 30, 2026
Stockholders' Equity Note [Abstract]  
STOCK PLANS STOCK PLANS
Stock Incentive Plans
The Pacira BioSciences, Inc. Amended and Restated 2011 Stock Incentive Plan, or 2011 Plan, was originally adopted by the Company’s board of directors and approved by its stockholders in June 2011 and was amended and restated in June 2014, June 2016, June 2019, June 2021, June 2023 and June 2025. The 2011 Plan allows for the granting of incentive stock options, non-statutory stock options, restricted stock units, and other stock-based awards—including PSUs.
The Pacira BioSciences, Inc. Amended and Restated 2014 Inducement Plan, or as amended and restated to date, the A&R Inducement Plan, was originally approved and adopted by the Company’s board of directors in April 2014, pursuant to which awards could be made to new employees as a material inducement to such persons entering into employment with the Company. The A&R Inducement Plan was amended and restated in December 2023, September 2024, January 2025 and January 2026. The January 2026 amendment and restatement added an additional 750,000 shares of the Company’s common stock to bring the total amount of shares reserved for issuance under the A&R Inducement Plan to 3,060,000, of which 703,390 shares remained available for issuance as of June 30, 2026, and extended the term of the A&R Inducement Plan such that it will now expire on January 1, 2036. The A&R Inducement Plan allows for the granting of nonstatutory stock options, restricted stock awards and other stock-based awards.
The A&R Inducement Plan was adopted by the board of directors without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. In accordance with this rule, awards under the A&R Inducement Plan may only be made to an employee who has not previously been an employee or member of the board of directors or the board of directors or any parent or subsidiary, or following a bona fide period of non-employment by the Company or a parent or subsidiary, if they are granted such award in connection with their commencement of employment with the Company or a subsidiary and such grant is an inducement material to their entering into employment with the Company or such subsidiary.
Inducement Awards
From time to time, the board of directors, upon recommendation of the People and Compensation Committee of the board of directors, has approved individually negotiated grants of options and restricted stock units for certain of the Company’s officers in connection with their respective appointments, in each case, pursuant to the inducement plan in effect at such time.
Stock-Based Compensation
The Company recognized stock-based compensation expense in the periods presented as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Cost of goods sold$1,809 $1,682 $3,452 $3,398 
Research and development2,605 2,407 4,435 4,648 
Selling, general and administrative10,544 11,383 20,610 21,979 
        Total$14,958 $15,472 $28,497 $30,025 
Stock-based compensation from:
Stock options$2,941 $4,309 $5,949 $8,749 
Restricted stock units11,159 10,681 21,303 20,287 
Performance share units560 — 696 — 
Employee stock purchase plan share options298 482 549 989 
        Total$14,958 $15,472 $28,497 $30,025 
Equity Awards
The following tables contain information about the Company’s stock option, RSU and PSU activity for the six months ended June 30, 2026:
Stock Options Number of Stock Options Weighted Average Exercise Price (Per Share)
 Outstanding at December 31, 2025
6,374,481 $40.65 
     Granted300,603 22.56 
     Exercised(27,947)16.44 
     Forfeited(90,771)26.77 
     Expired(432,996)44.61 
 Outstanding at June 30, 2026
6,123,370 $39.79 
Number of Weighted Average Grant Date Fair Value (Per Share)
Stock AwardsRestricted
Stock Units		Performance
Share Units
Unvested at December 31, 2025
4,160,697 — $27.87 
     Granted2,245,413 202,112 21.86 
     Vested(1,205,978)— 30.60 
     Forfeited(355,041)— 26.00 
Unvested at June 30, 2026
4,845,091 202,112 $24.43 
The weighted average fair value of stock options granted during the six months ended June 30, 2026 was $12.58 per share. The fair values of stock options granted were estimated using the Black-Scholes option valuation model with the following weighted average assumptions:
Black-Scholes Weighted Average AssumptionsSix Months Ended June 30, 2026
Expected dividend yieldNone
Risk-free interest rate4.10%
Expected volatility56.6%
Expected term of options5.74 years
Employee Stock Purchase Plan
In June 2026, the Company’s stockholders approved an amendment to the Company’s Amended and Restated 2014 Employee Stock Purchase Plan, or ESPP. The ESPP was amended to increase the number of shares of common stock that may be sold under the ESPP by an additional 800,000 shares, bringing the total amount of shares reserved for issuance under the ESPP to 1,800,000, of which 869,062 shares remained available for issuance as of June 30, 2026, and extended the term of the ESPP such that it will now expire on June 9, 2036.
The ESPP features two six-month offering periods per year, running from January 1st to June 30th and July 1st to December 31st. Under the ESPP, employees may elect to contribute after-tax earnings to purchase shares at 85% of the closing fair market value of the Company’s common stock on either the offering date or the purchase date, whichever is lesser. During the six months ended June 30, 2026, 82,837 shares were purchased and issued through the ESPP.