Company: LCTX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000950170-25-060090
Chunk: 51

Company: Lineage Cell Therapeutics, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 51
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 |             |   |     |           |             |
|                                                      |     |        2024 |             |   |     | 2023 |             |   |     |      2022 |             |
| Total number of common shares subject to stock       
 options granted                                      |     |             |   6,583,654 |   |     |      |   5,758,419 |   |     |           |   7,297,800 |
| Total number of common shares subject to full value  
 awards granted                                       |     |             |           — |   |     |      |           — |   |     |           |     994,424 |
| Weighted-average number of common shares outstanding |     |             | 200,192,847 |   |     |      | 172,662,894 |   |     |           | 169,791,590 |
| Burn Rate(1)                                         |     |             |        3.29 | % |     |      |        3.34 | % |     | 4.88% (2) |             |

(1) Burn Rate is calculated as (common shares subject to stock options granted plus common shares subject to full value awards granted) / weighted average common shares outstanding. (2) In March 2022, we issued a stock option award to purchase 650,000 common shares to Mr. Cook, our former Chief Financial Officer. Mr. Cook resigned in July 2022 and the stock option award issued to him in March 2022 was forfeited in its entirety. In November 2022, we issued a “new hire” award (an option to purchase 1,000,000 common shares) to Ms. Howe in connection with her appointment as our Chief Financial Officer. Excluding the new hire award issued to Ms. Howe, the Burn Rate for fiscal year 2022 would have been 4.29%.

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Description of the 2021 Plan

The following is a summary of the principal features of the 2021 Plan, as currently in effect. The summary is qualified in its entirety by the text of the 2021 Plan which is set out in Appendix A to this Proxy Statement. As discussed above, the Plan Amendment makes no changes to the 2021 Plan other than to increase the number of common shares available for grant of Awards thereunder by 19,500,000.

Purpose

The