Business Context and Reporting Period
This Form 8-K Current Report was filed by Pacific Biosciences of California, Inc. on July 20, 2012. The report discloses a corporate governance event: the appointment of a new member to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial statements or performance data.
Material Changes
On July 20, 2012, the Board of Directors appointed David Botstein, Ph.D., as a Class III director, effective immediately. Dr. Botstein is the Director of the Lewis-Sigler Institute for Integrative Genomics and Anthony B. Evnin Professor of Genomics at Princeton University. His background includes serving as Chairman of the Department of Genetics at Stanford University (1990–2003) and Vice President for Science at Genentech.
Compensation and Governance Details
- Annual Retainer: Dr. Botstein will receive an annual retainer of $35,000 as a non-employee director.
- Equity Grant: Pursuant to the outside director equity compensation policy, he was automatically granted a stock option to purchase 35,000 shares of common stock on the date of appointment.
- Disclosure: A press release announcing this appointment was issued on July 23, 2012, and is included as Exhibit 99.1.
Investor Verification Checklist
- Verify the effective date of Dr. Botstein's board appointment (July 20, 2012).
- Confirm the specific compensation terms: $35,000 annual retainer and 35,000 share stock option grant.
- Review the attached press release (Exhibit 99.1) for additional context on the appointment.
- Note that this filing contains no financial performance data; refer to the most recent 10-Q or 10-K for financial metrics.