On December 15, 2023, Athersys, Inc. (the ?Company?) terminated four of its employees. Effective December 31, 2023, the Company anticipates terminating its remaining employees, including Maia Hansen, the Company?s Chief Operating Officer (?COO?). The Company anticipates that some of the terminated employees may continue to advise the Company on a consulting basis.

The Company estimates that it will incur approximately $0.360 million of one-time pre-tax cash charges related to the employee terminations, consisting of employee severance and other one-time termination benefits. These estimates are subject to a number of assumptions, and actual results may differ. The Company may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the terminations.

the Company anticipates that Mr. Camardo, the Company?s CEO, and Ms. Hansen, the Company?s COO, will depart from the Company on December 31, 2023. Mr. Camardo and Ms. Hansen may continue to advise the Company on a consulting basis following that date, pursuant to the terms of a future consulting agreement. The employment agreements of Mr. Camardo and Ms. Hansen will be terminated effective December 31, 2023, including any severance benefits to which they were entitled under those agreements.