Laura Brege
Pacira BioSciencesAbout Laura Brege
Independent Board Chair of Pacira BioSciences (PCRX) since January 2025; director since June 2011. Age 67 with 35+ years in pharma/biotech and venture capital; prior CFO of COR Therapeutics and senior roles at Onyx and Nodality. Education: BA, Ohio University; MBA, University of Chicago .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BridgeBio Pharma | Senior Advisor | Since 2018 | Strategic counsel and capital allocation oversight |
| Nodality | President & CEO | 2012–2015 | Led commercialization and stakeholder engagement |
| Onyx Pharmaceuticals | Head of Corporate Affairs; COO; EVP/CBO | 2006–2011 | Corporate development and operations leadership |
| Red Rock Capital Management | General Partner | 1999–2006 | Venture investing in healthcare |
| COR Therapeutics | SVP & CFO | 1991–1999 | Scaled from R&D to commercial launch of cardiovascular drug |
External Roles
| Company | Role | Tenure |
|---|---|---|
| Edgewise Therapeutics (NASDAQ: EWTX) | Director | Since 2020 |
| Mirum Pharmaceuticals (NASDAQ: MIRM) | Director | Since 2019 |
| Acadia Pharmaceuticals (NASDAQ: ACAD) | Director | Since 2008 |
| HLS Therapeutics (TSX: HLS) | Director (stepped down to address overboarding concerns) | 2019–2024 |
Board Governance
- Independent Board Chair (appointed January 28, 2025); responsibilities include chairing board and shareholder meetings, agenda setting with CEO, facilitating evaluations, presiding over executive sessions, and serving as primary board spokesperson .
- Committee memberships: Nominating, Governance & Sustainability (member); committee chaired by Mark Kronenfeld .
- Independence and structure: 8 of 9 directors independent; regular executive sessions without management; majority voting adopted for uncontested elections in March 2025 with director resignation policy .
- Attendance: Board met 12 times in 2024; all directors attended ≥75% of board and committee meetings; executive sessions at each regular meeting .
- Shareholder engagement: Directed board-led investor outreach; 90%+ of weighted average shares contacted since 2024 meeting .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual director cash fees (Brege, 2024) | $89,000 | Includes board and committee retainers |
| Board Chair additional cash retainer (policy) | $50,000 | Paid quarterly in advance |
| Committee retainers (policy) | Audit: Chair $30,000; Member $15,000. Compensation: Chair $24,000; Member $12,000. NGS: Chair $18,000; Member $9,000. Science & Tech: Chair $18,000; Member $9,000 |
Performance Compensation
| Equity Component | Value/Structure | Vesting |
|---|---|---|
| Annual stock awards (policy) | $300,000 target; 50% options ($150,000) + 50% RSUs ($150,000) | Options vest monthly over 3 years; RSUs vest 1 year from grant |
| Brege equity (2024 grant values) | Options: $150,009; RSUs: $149,996 | Options/RSUs per standard director vesting |
| New director initial grant (policy) | $450,000 (options) | Options vest monthly over 3 years |
Director equity is time-based only; no performance metrics apply to director awards. Company-wide clawback policy on incentive-based compensation (executives) effective Oct 2, 2023 .
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public boards | Edgewise Therapeutics, Mirum Pharmaceuticals, Acadia Pharmaceuticals |
| Prior boards | HLS Therapeutics (stepped down Aug 7, 2024), Portola Pharmaceuticals (oversaw $1.4B acquisition), Dynavax, Aratana |
| Interlocks/conflicts | No related person transactions disclosed involving Brege; board prohibits hedging/pledging and permits no overboarding; she stepped down from HLS to address overboarding concerns |
Expertise & Qualifications
- Accounting & finance; business development/M&A; industry experience; public board governance .
- Led major corporate transactions and commercialization programs; governance leadership as Independent Chair .
Equity Ownership
| Metric | Amount | Detail |
|---|---|---|
| Total beneficial ownership | 89,353 shares (<1%) | |
| Options exercisable within 60 days (as of Apr 17, 2025) | 71,801 shares | |
| RSUs vesting within 60 days (as of Apr 17, 2025) | 5,230 shares | |
| Vested vs unvested (Dec 31, 2024) | Vested options: 59,622; Unvested options: 12,179; Unvested RSUs: 5,230 | |
| Ownership guidelines | Directors must own ≥5x annual cash retainer; 4-year phase-in. Directors either compliant or within phase-in as of 2024 | |
| Hedging/pledging | Prohibited by Insider Trading Policy (pledging exception only with CFO approval and demonstrable capacity) |
Governance Assessment
- Strengths: Independent Chair; majority voting with resignation policy; anti-hedging/anti-pledging; robust ownership guidelines; active stockholder engagement; director compensation aligned to market and primarily equity-based .
- Committee effectiveness: Member of Nominating, Governance & Sustainability overseeing board composition, ESG/safety, annual board self-evaluations .
- Alignment: Meaningful share/option holdings; equity grants time-vest, encouraging long-term alignment; directors either meet or are on track for ownership guidelines .
- Shareholder signals: 2024 Say-on-Pay approved at 90%, indicating broad support of compensation practices .
- RED FLAGS: None disclosed specific to Brege. Prior “overboarding” concern addressed via stepping down from HLS Therapeutics in 2024; continued service on three public boards warrants monitoring for capacity but aligns with company’s “no overboarding” policy .
Notes on Attendance and Engagement
- Board and committee meetings: 12 board, 8 Audit, 6 Compensation, 4 NGS, 3 Science & Technology meetings in 2024; all directors at ≥75% attendance. Executive sessions held at each regular meeting .
- Chair’s letter underscored management refresh and succession planning, investor engagement, and alignment with 5x30 strategy .