Longeveron Inc. announced the appointment of Lisa Locklear to the Longeveron executive leadership team in the role of Executive Vice President and Chief Financial Officer (?CFO?), principal financial officer and principal accounting officer, effective July 31, 2023 (the ?Effective Date?). James Clavijo, who has been serving as interim CFO on a consulting basis while the Company searched for a permanent CFO, will step down from that interim position as of July 31, 2023 but will continue to be available to the Company and Ms. Locklear as needed during her transition. Ms. Locklear, age 62, most recently served as Senior Vice President and CFO of Avanir Pharmaceuticals from September 2018 to December 2022.

Prior to that, Ms. Locklear served as Senior Vice President and CFO for GSN Games Inc. from 2016 to 2017. In connection with her appointment, the Company and Ms. Locklear have entered into a letter agreement, effective as of the Effective Date (the ?Agreement?). Pursuant to the Agreement, Ms. Locklear?s initial annual base salary will be $400,000, and she is eligible to participate in the Company?s performance-based annual cash incentive plan, with an award target equal to 45% of her base salary, as well as short and long-term equity incentive awards pursuant to the terms of the Longeveron 2021 Incentive Award Plan.

As of the Effective Date, Ms. Locklear will receive an equity award of 40,000 time-based vesting Restricted Stock Units. Ms. Locklear is also entitled to receive other employee benefits generally available to all employees of Longeveron. Ms. Locklear joins Longeveron from Avanir Pharmaceuticals, a subsidiary of Otsuka, where she served as Senior Vice President and CFO.

During her time at Avanir, Ms. Locklear was instrumental in enhancing the financial and technology related processes, systems, and people during a period of rapid growth. Prior to Avanir, she held senior financial roles at GSN Games, CoreLogic, Ingram Micro, the Walt Disney Company, and Price Waterhouse (now PwC), with assignments in Paris and London. Ms. Locklear has been recognized by the Healthcare Businesswomen?s Association with the Luminary award, an honor that underscores her dedication to fostering the growth of other women?s careers and her unwavering commitment to the healthcare industry.

In addition to her professional career, Ms. Locklear serves on several philanthropic boards. She currently chairs the Board of Governors for the Gemological Institute of America (GIA), and serves on the boards of the Pacific Marine Mammal Center and the Orange County United Way, and is a member of the National Association of Corporate Directors (NACD). Ms. Locklear holds a B.S. in plant science from the University of California, Davis, and an MBA from the University of California, Irvine.

She is a licensed CPA (inactive), and is a member of the American Institute of Certified Public Accountants, California Society of CPAs, and Financial Executives International.