PACIFIC BIOSCIENCES OF CALIFORNIA INC

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE

SECURITIES EXCHANGE ACT OF 1934

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☐ Preliminary Proxy Statement

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☒ Definitive Proxy Statement

☐ Definitive Additional Materials

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Pacific Biosciences of California, Inc.

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April 23, 2025Dear Pacific Biosciences of California, Inc. Stockholder:You are cordially invited to attend our 2025 Annual Meeting of Stockholders, including any adjournments and postponements thereof (the “Annual Meeting”), which will be held virtually on Wednesday, June 4, 2025 at 9:00 a.m. Pacific Time online via live webcast at www.virtualshareholdermeeting.com/PACB2025. To access the virtual meeting, please have your notice or proxy card in hand when you visit the website. If you encounter any difficulties while accessing the virtual meeting during the check-in or meeting time, a phone number for technical assistance will be made available on the virtual meeting registration page 15 minutes prior to the start time of the Annual Meeting.During the Annual Meeting, stockholders will be asked to vote on the proposals set forth in the Notice of Annual Meeting of Stockholders and as more fully described in the accompanying proxy statement (the “Proxy Statement”).It is important that your shares are represented and voted at the Annual Meeting. Whether or not you plan to attend, please ensure your representation at the Annual Meeting by voting as soon as possible. We urge you to review carefully the proxy materials and to vote:•“FOR” each of the three nominees for our Class III directors named in the accompanying Proxy Statement;•“FOR” the ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2025; •“FOR” the non-binding advisory vote to approve the compensation of our named executive officers for the year ended December 31, 2024; and•“FOR” the amendment of our 2020 Equity Incentive Plan to increase the number of shares reserved thereunder.Thank you for your continued support of PacBio. Sincerely,Christian O. HenryPresident and Chief Executive Officer

NOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERS

To Be Held on June 4, 2025

9:00 a.m. Pacific Time

Pacific Biosciences of California, Inc.’s 2025 Annual Meeting of Stockholders, including any adjournments and postponements thereof (the “Annual Meeting”), will be held virtually on Wednesday, June 4, 2025 at 9:00 a.m. Pacific Time online via live webcast. You will be able to attend and participate in the Annual Meeting online, vote your shares electronically and submit your questions prior to and during the meeting by visiting the following website: www.virtualshareholdermeeting.com/PACB2025. To access the virtual meeting, please have your notice or proxy card in hand when you visit the website. If you have difficulty accessing the virtual meeting during the check-in or meeting time, a phone number for technical assistance will be made available on the virtual meeting registration page 15 minutes prior to the start time of the meeting.

During the Annual Meeting, our stockholders will be asked:

•To elect each of the three Class III directors nominated by our Board of Directors and named in this proxy statement (the “Proxy Statement”) to serve for a one-year term and until their successors are duly elected and qualified;

•To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2025;

•To approve, on a non-binding advisory basis, the compensation of our named executive officers for the year ended December 31, 2024;

•To vote on an amendment of our 2020 Equity Incentive Plan to increase the number of shares reserved thereunder; and

•To transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof.

Any action on the items of business described above may be considered at the Annual Meeting at the time and on the date specified above or at any time and date to which the Annual Meeting may be properly adjourned or postponed.

The Proxy Statement to which this notice is attached includes a copy of the proposed amendment of our 2020 Equity Incentive Plan as Annex A which is incorporated herein by reference and considered attached to this notice.

Stockholders of record who owned shares of our common stock at 5:00 p.m. Pacific Time on April 10, 2025 are entitled to receive notice of, attend, and vote at the Annual Meeting. A complete list of these stockholders will be available at our corporate offices at 1305 O’Brien Drive, Menlo Park, California 94025 during regular business hours for ten days prior to the Annual Meeting. A stockholder may examine the list for any legally valid purpose related to the Annual Meeting.

We are furnishing proxy materials to stockholders primarily over the internet. We believe that this process expedites stockholders’ receipt of proxy materials, lowers the costs of the Annual Meeting and conserves natural resources. On or about April 23, 2025, we expect to mail to our stockholders a Notice of Internet Availability of Proxy Materials (the “Notice”) containing instructions on how to access our Proxy Statement for the Annual Meeting and our Annual Report on Form 10-K for the fiscal year 2024 (the “Annual Report”). This Notice provides instructions on how to vote online or by telephone and includes instructions on how to receive a paper copy of proxy materials by mail. We also include in the Notice instructions on how you can request a paper copy of the proxy materials. The Proxy Statement and our Annual Report can be accessed at the following Internet address: http://www.proxyvote.com. All you have to do is enter the control number located on your proxy card.

YOUR VOTE IS IMPORTANT. Whether or not you plan to attend the Annual Meeting, please submit your vote via the internet, telephone or mail as soon as possible.

By Order of the Board of Directors,

Brett Atkins, J.D., Ph.D.

General Counsel and Corporate Secretary

Menlo Park, California

April 23, 2025