Christopher Christie
Pacira BioSciencesAbout Christopher Christie
Christopher Christie, age 62, has served as an independent director of Pacira BioSciences since September 2019. He brings extensive government, public policy, and regulatory affairs expertise to Pacira’s board, informed by prior service as Governor of New Jersey, U.S. Attorney for New Jersey, and Chair of the U.S. Opioid and Drug Abuse Commission; he is Managing Member of Christie 55 Solutions and a Senior Fellow at Yale’s Jackson School of Global Affairs, with a JD from Seton Hall Law and BA from the University of Delaware . He is currently classified as independent under Nasdaq and SEC rules; Pacira’s board has eight independent directors out of nine and conducts regular executive sessions without management present .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| State of New Jersey | Governor | 2010–2018 | Led state policy; provides board-level perspective on healthcare reforms and patient access |
| U.S. Opioid and Drug Abuse Commission | Chair | 2017 | Public health leadership relevant to non‑opioid pain strategies |
| U.S. Department of Justice (District of New Jersey) | U.S. Attorney | 2002–2008 | Regulatory and enforcement experience |
| Christie 55 Solutions, LLC | Managing Member | 2018–present | Advises on complex regulatory challenges across jurisdictions |
| Yale University (Jackson School of Global Affairs) | Senior Fellow | 2024–present | Policy scholarship; global affairs perspective |
External Roles
| Entity | Type | Role | Since | Public Company Board Status |
|---|---|---|---|---|
| New York Mets | Sports/Private | Director | 2021 | Not a public company; Pacira table shows 0 current public boards for Christie |
| Tenneco | Automotive/Private | Director | 2024 | Not counted as current public board; Pacira table shows 0 |
Board Governance
- Committee memberships: Nominating, Governance & Sustainability (member; committee chaired by Mark Kronenfeld) .
- Independence: Board determined all directors other than the CEO are independent; Pacira has eight independent directors out of nine .
- Attendance and engagement: The full board met 12 times in 2024; each director attended at least 75% of board and relevant committee meetings. Independent directors held executive sessions without management at each regularly scheduled board meeting .
- Majority voting standard: In March 2025, the board amended bylaws to adopt majority voting in uncontested director elections and implemented a Director Resignation Policy—positive governance alignment with market practice .
- Committee focus: NGS oversees board composition, ESG, and corporate governance; Audit/Compensation/Science charters empower independent oversight and advisor access .
Fixed Compensation
| Component (FY 2024) | Amount (USD) |
|---|---|
| Cash fees earned | $50,000 |
| Stock awards (RSUs, grant-date fair value) | $149,996 |
| Option awards (grant-date fair value) | $150,009 |
| Total | $350,005 |
Policy highlights:
- Annual director equity target increased in Q2’24 to $300,000, split 50/50 between stock options and RSUs; initial new‑director option grant targeted at $450,000 .
- Committee cash retainers: Audit (Chair $30k/Member $15k), Compensation (Chair $24k/Member $12k), NGS (Chair $18k/Member $9k), Science & Technology (Chair $18k/Member $9k); Board Chair $50k, Lead Director $35k .
- Vesting: Annual RSUs and options vest one year from grant; initial option grants vest monthly over three years; full acceleration upon change of control or liquidation .
Performance Compensation
- Director compensation is composed of cash retainers and equity grants; no performance metrics are specified for non‑employee directors (performance plans apply to executives, not directors) .
Other Directorships & Interlocks
| Company/Entity | Sector | Relationship to PCRX | Potential Interlock/Conflict Indicator |
|---|---|---|---|
| New York Mets | Sports | No known supplier/customer overlap | None disclosed; outside industry |
| Tenneco | Automotive | No known overlap with Pacira’s pain therapeutics | None disclosed; outside industry |
Expertise & Qualifications
- Government, public policy, and regulatory affairs; human capital; senior leadership; industry experience relevant to drug development oversight .
- Public thought leader in combating opioid misuse, aligning with Pacira’s non‑opioid pain mission .
Equity Ownership
| Metric | Value |
|---|---|
| Total beneficial ownership (as of Apr 17, 2025) | 107,726 shares; less than 1% (“*”) of outstanding |
| Options – exercisable (vested) | 85,056 |
| Options – unexercisable (unvested) | 12,179 |
| RSUs – unvested | 5,230 |
| Shares pledged as collateral | Prohibited by policy; none disclosed |
| Hedging of company stock | Prohibited by Insider Trading Policy |
| Ownership guideline | Directors must hold ≥5x annual cash retainer; phase‑in 4 years (amended Dec 10, 2024). All current directors compliant or within phase‑in in 2024 . |
Governance Assessment
- Strengths: Independent director with deep public policy and opioid‑reduction expertise; active NGS committee member; board adopted majority voting and maintains robust anti‑hedging/pledging policy and advisor access—supportive of investor confidence .
- Alignment: Material equity in the form of RSUs and options and enhanced stock ownership guidelines (5x retainer) strengthen alignment; 2024 director comp mix is standard for mid‑cap biotech, with equity constituting ~86% of total for Christie .
- Engagement: Board and committee meeting cadence and ≥75% attendance thresholds, plus executive sessions each meeting, indicate ongoing independent oversight .
- RED FLAGS and watch items: No related‑person transactions involving Christie disclosed; he runs a regulatory consulting firm—monitor for any future business with Pacira or counterparties that could pose conflicts; no overboarding risk based on 0 current public boards .
- Shareholder sentiment: Say‑on‑pay approval at 90% in 2024 suggests broad support for compensation governance; board retains independent compensation consultant and clawback policy—positive signals .