Lineage Cell Therapeutics Inc. — Director's Dealing 2021

Jul 1, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Lineage Cell Therapeutics, Inc. (LCTX)
CIK: 0000876343
Period of Report: 2021-06-28

Reporting Person: Culley Brian M (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-06-28	Common Shares, no par value	M	300000	$0.6919	Acquired	495709	Direct
2021-06-28	Common Shares, no par value	S	450000	$2.87	Disposed	45709	Direct
2021-06-30	Common Shares, no par value	M	15450	$2.85	Acquired	61159	Direct
2021-06-30	Common Shares, no par value	F	5343	$2.85	Disposed	55816	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-06-28	Employee Stock Option (right to buy)	$0.6919	M	300000	Disposed	2030-03-17	Common Shares (300000)	Direct
2021-06-30	Restricted Stock Units	$0.00	M	15450	Disposed		Common Shares (15450)	Direct

Footnotes

F1: Does not include restricted stock units ("RSUs") that may be settled in shares of the issuer's common stock that have not vested as of the date of this report or shares that may be acquired upon the exercise of stock options outstanding as of the date of this report.

F2: Shares sold pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.

F3: The price reported is a weighted average. These shares were sold in multiple transactions at prices ranging from not less than $2.81 to not more than $2.93. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

F4: Shares earned by the reporting person as a result of the vesting of a portion of RSUs granted to the reporting person on September 17, 2018. RSUs convert into common shares on a one-for-one basis.

F5: Shares withheld by the issuer to satisfy statutory tax withholding requirements on the vesting of 15,450 RSUs in a transaction exempt under Rule 16(b)-3. No shares were sold in connection with this transaction.

F6: The reporting person was granted options on March 17, 2020, with an exercise price of $0.6919 per share to purchase up to 1,233,300 shares. One quarter of the options vested and became exercisable on March 17, 2021, the first anniversary of the grant date, and the balance vest in 36 monthly installments thereafter upon completion of each month of the reporting person's continuous employment.

F7: The reporting person was granted RSUs on September 17, 2018, that vested with respect to 25% of the shares subject to the award on September 17, 2019, and the balance vest in 12 equal quarterly installments at the end of each quarter thereafter.