As previously disclosed, on November 21, 2022, John P. Sharp, Chief Financial Officer of PhaseBio Pharmaceuticals, Inc. and the company's principal financial officer, resigned from his position, effective November 30, 2022. On November 28, 2022, the company's board of directors appointed Lawrence Perkins, the company's Chief Restructuring Officer, as principal financial officer, effective upon the effectiveness of Mr. Sharp's resignation. Mr. Perkins, age 45, has served as the company's Chief Restructuring Officer since October 2022.

Mr. Perkins is the founder and Chief Executive Officer of SierraConstellation Partners, an interim management and advisory firm, which he founded in 2013. Mr. Perkins has served in a variety of senior-level positions, including interim CEO/President, Chief Restructuring Officer, board member, financial advisor, strategic consultant and investment banker, to numerous private and public middle-market companies.