Pacira BioSciences' CFO Sold 12,941 Shares for $326,000 Before Its Q1 Earnings Release
Key Points
CFO Shawn Cross exercised and sold 12,941 shares on April 23, 2026, for a transaction value of ~$326,000 at around $25.16 per share.
This disposition represented 10.94% of Shawn Cross's direct common stock holdings at the time of the transaction.
The activity involved a derivative transaction: Options were exercised and the resulting common shares were immediately sold, with no shares held indirectly after the trade.
Cross retains 150,000 stock options (direct), which can be converted to common stock, supporting future liquidity capacity.
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Shawn Cross, Chief Financial Officer of Pacira BioSciences (NASDAQ:PCRX), reported the exercise and immediate sale of 12,941 shares of common stock for a transaction value of approximately $326,000, according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 12,941 |
| Transaction value | $326,000 |
| Post-transaction shares (direct) | 105,341 |
| Post-transaction value (direct ownership) | ~$2.67 million |
Transaction value based on SEC Form 4 weighted average purchase price ($25.16); post-transaction value based on April 23, 2026 market close.
Key questions
- How does this transaction impact Shawn Cross' direct ownership in Pacira BioSciences?
Following the sale, Cross' direct common stock holdings declined by 10.94%, with 105,341 shares remaining, and no indirect ownership reported. - What was the structure of the transaction, and what does it indicate about the insider's liquidity strategy?
The transaction involved the exercise of 12,941 stock options and immediate sale of the resulting shares, suggesting pre-planned liquidity via derivative conversion rather than discretionary selling of previously held common stock. - What is the capacity for future insider sales based on remaining holdings and options?
Cross retains ~62.9% of his pre-transaction common shares, providing continued flexibility for future liquidity events. He also retains 150,000 stock options (direct), which can be converted to common stock. - Is this sale consistent with Cross' prior trading activity or pattern?
Recent filings show multiple sell transactions over the past five months, with this sale aligning with ongoing use of option exercises for scheduled liquidity.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $1.02 billion |
| Revenue (TTM) | $734.86 million |
| Net income (TTM) | $5.14 million |
| 1-year price change | 0.63% |
* 1-year price change calculated as of market close April 23, 2026.
Company snapshot
- Pacira BioSciences generates revenue primarily from non-opioid pain management products, including Exparel (bupivacaine liposome injectable suspension), Zilretta (triamcinolone acetonide extended-release injectable suspension), and the iovera cryoanalgesia device.
- The company operates a specialty pharmaceutical model, developing and commercializing proprietary drug delivery technologies and products for acute and chronic pain management.
- Its main customers are healthcare practitioners and institutions in the United States, with a focus on hospitals, ambulatory surgical centers, and orthopedic clinics.
Pacira BioSciences is a leading provider of non-opioid pain management solutions, leveraging proprietary multivesicular liposome technology to deliver innovative therapies. With a focus on hospital and surgical settings, the company addresses critical needs in postoperative and chronic pain care. Pacira's strategy centers on expanding its product portfolio and market reach within the U.S. healthcare system, aiming to reduce opioid reliance and improve patient outcomes.
What this transaction means for investors
On April 23, CFO Shawn Cross exercised 12,941 stock options and immediately sold the resulting shares for a total of around $326,000. The transaction was part of a Rule 10b5-1 trading plan, which is a way for company insiders to set up pre-planned, automatic share sales and conversions of company shares, mitigating insider trading liability.
Despite its measly 0.63% one-year price change as of April 23, Pacira stock has been volatile over the past year, and was down more than 20% at one point in 2026. The company reported its first-quarter financial results on April 30, highlighting total revenue of $177 million, a 5% year-over-year increase, and beating analyst expectations for both the top and bottom lines. The stock rose about 12% over the month of April, suggesting investor anticipation of these quarterly results.
With a $1 billion market cap, Pacira BioSciences is a small-cap pharmaceutical company. Success in clinical trials can deliver explosive gains for investors, but bad news or slow sales can compromise total returns. Pacira’s recent revenue growth was driven by volume gains across all three of its commercial-stage products, and management highlighted several upcoming pipeline developments that could signal further success, including the enrollment completion for its phase 3 registrational study of Zilretta for osteoarthritis pain of the shoulder, which would be “a significant new market opportunity,” according to the company.
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Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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