Jonathan Slonin
Pacira BioSciencesAbout Jonathan Slonin
Jonathan Slonin, M.D., age 50, is Pacira BioSciences’ Chief Medical Officer (CMO) since December 2023, following roles as Chief Clinical Officer (2021–2023) and SVP, Strategic Accounts (2020–2021) . He is board-certified in anesthesiology with leadership experience at TeamHealth (Regional Medical Director), Cleveland Clinic Martin Health (Facility Medical Director and Chair, Anesthesiology), and Lawnwood Regional Medical Center (Anesthesiologist); his credentials include B.Sc. and M.D. from the University of Miami, anesthesiology residency at University of Miami/Jackson Memorial Hospital, and MBA from George Washington University . Company performance during his CMO tenure includes record 2024 revenue of $701.0 million and adjusted EBITDA of $223.9 million, while the cash LTIP’s relative TSR was 12th percentile for 2024 (LTIP payout still 85% of target) .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Pacira BioSciences | Chief Medical Officer | Dec 2023–present | Oversees R&D and medical operations; aligns clinical programs with growth strategy |
| Pacira BioSciences | Chief Clinical Officer | 2021–2023 | Led clinical strategy and customer-facing medical operations |
| Pacira BioSciences | SVP, Strategic Accounts | 2020–2021 | Drove strategic engagement with key accounts |
| TeamHealth | Regional Medical Director, Southeast, Anesthesia | 2016–2020 | Led anesthesiology operations, optimizing practices and outcomes |
| Cleveland Clinic Martin Health | Facility Medical Director & Chair, Anesthesiology | 2013–2016 | Directed perioperative care and medical leadership |
| Lawnwood Regional Medical Center | Anesthesiologist | 2005–2013 | Provided clinical anesthesia services |
External Roles
No public company directorships or external board roles disclosed for Slonin .
Fixed Compensation
Three-year summary compensation (USD):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | $463,500 | $490,225 | $535,000 |
| Bonus (annual incentive) | $185,400 | $220,300 | $247,438 |
| All Other Compensation | $20,933 | $20,347 | $20,833 |
| Total | $1,879,034 | $1,593,213 | $2,878,928 |
Key 2024 fixed pay parameters:
- Base salary: $535,000 .
- Target annual bonus: 50% of base (Company weighting 75%, Individual 25%) .
- Corporate bonus factor: 90% of target for 2024 .
- “All other compensation” generally reflects employer-paid insurance premiums per policy .
Performance Compensation
2024 annual incentive and long-term plan details:
| Program | Metric | Weighting | Target | Actual | Payout |
|---|---|---|---|---|---|
| Annual Incentive | Company Performance | 75% | 100% factor | 90% factor | Applied to target bonus |
| Annual Incentive | Individual Performance | 25% | Assessed | Assessed | Included in actual bonus $247,438 |
| Cash LTIP | Net Revenue | 50% | $697.0m | $689.9m (99.0% of target) | 89.8% |
| Cash LTIP | Adjusted EBITDA | 50% | $234.0m | $224.7m (96.0% of target) | 80.2% |
| Cash LTIP | Relative TSR (S&P Pharm Select) | Multiplier | 50th→100% | 12th percentile | 100% multiplier |
- Cash LTIP earned payout: 85.0% of target; Slonin’s earned amount: $227,295 with three-year time-vesting through 12/31/2028 .
- Adjusted EBITDA for company: $223.856 million (non-GAAP reconciliation) .
Equity Ownership & Alignment
Beneficial ownership and alignment:
| Item | Value |
|---|---|
| Total beneficial ownership (shares) | 134,259 shares; less than 1% of outstanding |
| Exercisable stock options (within 60 days of Apr 17, 2025) | 94,489 shares |
| RSUs vesting within 60 days of Apr 17, 2025 | 20,201 shares |
| Stock ownership guideline | 3x annual base salary for NEOs; 5-year phase-in from Dec 10, 2024 |
| Guideline compliance status | All current NEOs compliant or within phase-in in 2024 |
| Anti-hedging/anti-pledging | Hedging prohibited; pledging prohibited except CFO-approved exceptions |
| Clawback policy | SEC/Nasdaq-compliant Incentive Compensation Recovery Policy effective Oct 2, 2023 |
Note: Company policy prohibits pledging and hedging; no pledging by Slonin is disclosed .
Equity Awards and Vesting
2024 grants and vesting:
| Award Type | Grant Date | Shares/Units | Grant Date Fair Value | Vesting |
|---|---|---|---|---|
| Stock Options | 1/3/2024 | 10,000 | $131,038 | 25% on 1/3/2025; remaining in equal quarterly installments over 3 years |
| RSUs (promotion) | 1/2/2024 | 5,000 | $160,000 | 4 equal annual installments beginning 1/2/2025 |
| RSUs (annual grant) | 6/12/2024 | 54,300 | $1,557,324 | 4 equal annual installments beginning on first anniversary of grant |
Outstanding awards at fiscal year-end (selected items):
| Award | Grant Date | Exercisable | Unexercisable | Exercise Price | Notes |
|---|---|---|---|---|---|
| Options | 1/3/2024 | — | 10,000 | $32.07 | Term 10 years |
| RSUs | 6/12/2024 | — | 54,300 | — | Unvested RSUs |
| RSUs | 1/2/2024 | — | 5,000 | — | Unvested RSUs |
| Options | Multiple prior grants | Aggregated counts shown | — | Various | See table for detailed prior grants |
Employment Terms
General NEO severance (non-CEO) and change-of-control terms:
| Scenario | Salary Continuation | Bonus | Health Benefits | Equity Vesting |
|---|---|---|---|---|
| Termination without cause / good reason | 12 months | None specified beyond accrued | 12 months | Portion that would vest in 9 months immediately vests |
| Change-of-control + termination (double trigger) | 18 months | 150% of then-current annual targeted incentive bonus (lump sum) | 18 months | Immediate vesting of all outstanding unvested options and time-based RSUs |
Potential payments (estimated at Dec 31, 2024):
| Scenario | Severance ($) | Health ($) | Equity Acceleration ($) | Total ($) |
|---|---|---|---|---|
| Involuntary termination (no CIC) | $535,000 | $20,833 | $427,687 | $983,520 |
| Termination in connection with change-of-control | $1,605,000 | $31,249 | $1,415,355 | $3,051,604 |
- Pacira uses “double trigger” change-of-control protections; no excise tax gross-ups per policy .
Deferred Compensation (NQDC)
| Item | Amount (USD) |
|---|---|
| Aggregate balance at Dec 31, 2024 | $235,314 |
| Executive contributions (2024) | $22,659 |
| Registrant contributions (2024) | $20,515 |
| Aggregate earnings (2024) | $35,404 |
Say-on-Pay & Shareholder Feedback
Pacira’s 2024 say-on-pay received 90% approval; the People & Compensation Committee retained its approach and targets around market medians . 2024 annual meeting vote tallies show strong support for executive compensation .
Risk Indicators & Context (Company-Level)
- 2024 goodwill impairment of $163.2 million impacted GAAP results .
- Paragraph IV patent litigation produced an unfavorable outcome in 2024, contributing to a 10% discretionary reduction in corporate bonus factor; matters were favorably settled in April 2025 .
- 2024 revenue: $701.0 million; Adjusted EBITDA: $223.856 million .
Investment Implications
- Alignment: Slonin’s pay mix includes significant equity (2024 RSUs plus options) and cash LTIP tied to net revenue and adjusted EBITDA, with relative TSR modifier; anti-hedging/pledging and a robust clawback policy enhance alignment .
- Vesting and supply overhang: Multiple RSU tranches vest annually beginning in 2025, and options begin vesting in 2025—monitor scheduled vest dates for potential selling pressure; anti-pledging reduces collateral-driven risk .
- Retention/cycle: 2024 RSUs for existing NEOs were used to address retention during leadership transitions; Slonin’s promotional grants reflect expanded responsibilities as CMO, and his 2024 cash LTIP earned award vests through 2028, supporting retention .
- Change-of-control economics: Double-trigger protection with full equity acceleration and 18 months salary plus 150% of targeted bonus could make leadership continuity attractive in strategic scenarios; quantify impact via potential payment estimates .
Appendix: 2024 Company Performance (for pay-for-performance context)
| Metric | Value |
|---|---|
| Record revenue (2024) | $701.0 million |
| Adjusted EBITDA (2024) | $223.856 million |
| Cash LTIP payout (company-wide) | 85.0% of target |
| Relative TSR percentile (LTIP modifier) | 12th percentile; 100% modifier applied |