DOMA Perpetual Nominates Three Highly Qualified Candidates for the Board of Pacira BioSciences

Core Viewpoint - Pacira BioSciences has experienced a significant decline in stock price, down 76% over the last decade, while the S&P 500 has increased by 167% during the same period [2]. The management and board have compensated themselves nearly half a billion dollars, which is approximately 50% of the current market capitalization [2][3]. Management and Board Performance - Under the leadership of CEO Frank Lee, Pacira's stock price has decreased by 33% [1]. There are concerns regarding his push for higher compensation packages for management, which is seen as misaligned with shareholder interests [1][2]. Shareholder Interests - DOMA Perpetual Capital Management, which owns about 4.2% of Pacira's outstanding shares, argues that the current board's capital allocation strategy is detrimental to shareholder value [1][3]. DOMA emphasizes the need for a change in the board's composition to better align with shareholder interests and to rectify a decade of poor stock performance [1][2]. Director Nominees - DOMA has nominated three candidates for the board: Joseph Kromholz, Philip Pucciarelli, and Eric de Armas, who possess extensive experience in strategic capital allocation, risk management, and healthcare banking [1][6]. The nominees are expected to enhance the board's financial sophistication and legal expertise [1][2]. Capital Allocation Strategy - DOMA advocates for accelerating buybacks to return cash to shareholders and believes that the board should avoid substantial risks in capital allocation until there is certainty regarding ongoing intellectual property disputes [3]. The focus should be on prioritizing shareholder interests [3].