PACIFIC BIOSCIENCES OF CALIFORNIA, INC. Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On
The amendment to the Inducement Plan was adopted without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The Inducement Plan provides for the grant of equity-based awards, including nonstatutory stock options, restricted stock units, restricted stock, stock appreciation rights, performance shares and performance units, and its terms are substantially similar to the Company's 2020 Equity Incentive Plan, including with respect to treatment of equity awards in the event of a "merger" or "change in control" as defined under the Inducement Plan, but with such other terms and conditions intended to comply with the Nasdaq Inducement Award exception. Awards under the Inducement Plan may only be made to individuals not previously employees or non-employee directors of the Company (or following such individuals' bona fide period of non-employment with the Company), as an inducement material to the individuals' entry into employment with the Company or in connection with a merger or acquisition, to the extent permitted by the Nasdaq Listing Rules.
The foregoing description of the Inducement Plan, as amended, is a summary only and is qualified in its entirety by the full text of the Inducement Plan, as amended, a copy of which is filed herewith as Exhibit 10.1.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1Pacific Biosciences of California, Inc. 2020 Inducement Equity Incentive Plan, as amended, and forms of agreement thereunder. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). ? -2-
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