Microbot Medical Inc. — Director's Dealing 2010

May 19, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEMCELLS INC (STEM)
CIK: 0000883975
Period of Report: 2010-05-15

Reporting Person: KOSHY GEORGE (chief accounting officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-05-15	Common Stock	F	5099	$1.09	Disposed	93001	Direct
2010-05-18	Common Stock	S	8801	$1.06	Disposed	84200	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	33426	Indirect

Footnotes

F1: Includes (1) 41,700 restricted stock units, with 13,900 vesting on each of May 15, 2011, May 15, 2012 and May 15, 2013 and (2) 27,500 restricted stock units, vesting on March 10, 2011.

F2: Shares held in 401(k) account, in accordance with issuer's employer-match policies.