Brendan Teehan
Pacira BioSciencesAbout Brendan Teehan
Brendan Teehan, 56, is Chief Commercial Officer (CCO) of Pacira BioSciences (PCRX), appointed effective January 21, 2025, with responsibility for the Company’s sales force, marketing, and broader commercial execution as part of the “5x30” growth strategy . He brings 30+ years of commercial leadership across public and private biopharma, with senior roles at ACADIA Pharmaceuticals and prior leadership at Tesaro, RainTree Oncology, Amgen, and Johnson & Johnson; he holds a B.A. from Notre Dame and an MBA from Carnegie Mellon . Company context for incentive alignment: Pacira delivered record 2024 revenue of $701.0 million, Adjusted EBITDA of $223.9 million, and implemented corporate-wide pay-for-performance programs; TSR performance in 2024 reflected a $42 value per $100 invested versus $94 for the S&P Pharma Select peer index, highlighting scope for value creation as the new commercial leadership executes .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| ACADIA Pharmaceuticals (NASDAQ: ACAD) | EVP, Chief Operating Officer, Head of Commercial | 2021–2024 | Led all commercial functions; senior operating oversight for scaling and execution . |
| ACADIA Pharmaceuticals | SVP, Chief Analytics & Insights Officer | 2021–2022 | Built analytic and insights capabilities to support commercial decisioning . |
| ACADIA Pharmaceuticals | VP, Commercial Insights, Analytics & Operations | 2018–2021 | Drove commercial operations and data-driven resource allocation . |
| Tesaro; RainTree Oncology | Senior leadership roles | Not disclosed | Commercial leadership across oncology commercialization and partnerships . |
| Amgen; Johnson & Johnson | Senior leadership roles | Not disclosed | Broad biopharma commercial leadership across large-cap portfolio brands . |
External Roles
| Organization | Role | Years |
|---|---|---|
| None disclosed in company filings | — | — |
No public company directorships or external board roles were disclosed for Teehan in the latest filings .
Performance Compensation
Company 2024 annual incentive framework (baseline reference for 2025 executive plans):
- Annual bonuses for named executive officers used company and individual performance; corporate factor finalized at 90% based on dashboard outcomes .
- Cash LTIP (three-year vesting) tied to net revenue and adjusted EBITDA with a relative TSR modifier; 2024 payout certified at 85% of target (TSR 12th percentile vs S&P Pharma Select) .
| Category | Weight (%) | Assessed Performance | Result (% contribution) |
|---|---|---|---|
| Financial & Commercial | 40% | 100% | 40% |
| Culture & People | 30% | 105% | 31.5% |
| Pipeline & Manufacturing | 30% | 95% | 28.5% |
| People & Compensation Committee Adjustment | — | (10)% | (10)% |
| Final Corporate Factor | — | — | 90% |
2024 LTIP metrics and payout:
| Metric | Weight | Threshold | Target | Maximum | Actual | Payout Achieved |
|---|---|---|---|---|---|---|
| Net Revenue ($USD mm) | 50% | $662.2 (95%) | $697.0 (100%) | $731.9 (105%) | $689.9 (99%) | 89.8% |
| Adjusted EBITDA ($USD mm) | 50% | $210.6 (90%) | $234.0 (100%) | $257.4 (110%) | $224.7 (96%) | 80.2% |
| Relative TSR (vs S&P Pharma Select) | Modifier | — | — | — | 12.0th percentile | 100% |
Teehan was appointed in January 2025; his 2025 awards will be governed by these frameworks, but his specific targets and payouts were not disclosed in 2024 filings .
Fixed Compensation
- Teehan’s base salary, bonus target, and any 2025 inducement grants were not disclosed in the 2025 proxy and January 21, 2025 8‑K; the proxy’s compensation tables cover 2024 named executive officers only and do not include Teehan given his 2025 appointment .
Equity Ownership & Alignment
| Policy/Plan | Key Terms | Implications |
|---|---|---|
| Stock Ownership Guidelines (Executives) | NEOs: 3x base salary; CEO: 6x; compliance within 5 years (as of Dec 10, 2024 amendment) | Drives “skin in the game” alignment; Teehan likely subject to 3x guideline with 5-year runway . |
| Insider Trading Policy | Prohibits hedging (short sales, options/derivatives, collars/swaps) and pledging/margin; limited exceptions require CFO approval | Reduces misalignment and selling pressure from hedging/pledging; lowers retention risk tied to margin calls . |
| 2014 Inducement Plan (amended Jan 16, 2025) | 2,310,000 shares authorized; for new hires; options ≥FMV, max 10-year term; SARs ≥FMV; RSUs; no repricing without stockholder approval | Provides equity-based inducements for talent acquisition like CCO appointments; supports retention via multi-year vesting . |
| Typical Inducement Vesting (Forms) | Options: 25% at 1-year anniversary, then 6.25% quarterly; RSUs: 4 equal annual tranches | Predictable vesting cadence; implies staged realization and measured selling eligibility . |
| Share Repurchase Program | $150mm program in 2024 (837,240 shares repurchased); expanded to $300mm authorization in April 2025 (through Dec 31, 2026) | Offsets dilution from equity awards; may improve per-share metrics and mitigate supply from executive equity vesting . |
Employment Terms
Company standard agreements (reference for executive officers):
| Scenario | Cash Severance | Health Benefits | Equity Acceleration | Trigger |
|---|---|---|---|---|
| Involuntary termination without Cause / resignation for Good Reason (non-CEO) | 12 months salary continuation | 12 months | Portion vesting over next 9 months accelerates | Single-trigger (termination) . |
| Change of Control + involuntary termination / Good Reason (non-CEO) | 18 months salary continuation | 18 months | All unvested options & time-based RSUs accelerate | Double-trigger (CoC + termination) . |
| Definitions & Conditions | “Cause,” “Good Reason,” “Change of Control” defined; release required; non-compete/confidentiality compliance required | Standard market protections and obligations . |
Teehan’s specific agreement terms were not disclosed; these tables reflect the Company’s standard structure for named executive officers as reported in the proxy .
Company Performance Reference
| Metric | 2023 | 2024 |
|---|---|---|
| Adjusted EBITDA ($USD Millions) | $214.5 | $223.9 |
Total Shareholder Return – Value of $100 Investment
| Year | Pacira TSR ($) | Peer Index TSR ($) |
|---|---|---|
| 2020 | 132 | 126 |
| 2021 | 133 | 140 |
| 2022 | 85 | 90 |
| 2023 | 74 | 91 |
| 2024 | 42 | 94 |
Additional Governance & Compensation Context
- Say-on-Pay approval was 90% in 2024, and Pacira emphasized continued pay-for-performance and stockholder engagement; annual say-on-pay frequency recommended .
- 2025 proposal increased the main 2011 Stock Incentive Plan by 2,500,000 shares (no evergreen; minimum 1-year vesting with 5% carve-out; no repricing without stockholder approval), positioning for one year of equity needs given workforce growth and under-water options .
Investment Implications
- Alignment: Teehan’s decade-plus senior commercial leadership across CNS and specialty markets is well-matched to Pacira’s near-term growth levers (EXPAREL/J-code, NOPAIN Act coverage expansion, iovera°, ZILRETTA) and pipeline positioning (PCRX‑201 RMAT) .
- Incentive-driven execution: Company-wide incentives tied to net revenue and adjusted EBITDA (with TSR modifier) and equity ownership guidelines should focus the CCO’s efforts on profitable growth and durable access wins; monitor 2025 bonus metrics and potential LTIP design changes .
- Retention risk: Inducement awards with multi-year vesting, anti-hedging/pledging policies, and competitive severance/CoC terms reduce flight risk; watch for Form 4 disclosures of inducement grants and 10b5‑1 plans and any performance-linked equity in 2025 .
- Trading signals: Near-term commercial execution (reimbursement uptake from NOPAIN Act, J‑code utilization), and progress on PCRX‑201 may drive revenue/EBITDA beats; TSR underperformance vs peers underscores sensitivity to IP/litigation and margin trends—equity authorization and buyback provide capital allocation flexibility .