Company: IPSC
Filing Date: 2025-08-14
Form Type: 8-K
Source: 0001104659-25-078617
Chunk: 1

Company: Century Therapeutics, Inc.
Filing Date: 2025-08-14
Form: 8-K
Item: Item 5.02
Chunk 1
---
Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements  

Appointment of Chairman

On August 13, 2025, the Board of Directors (the “ Board”)
of the Company appointed its Chief Executive Officer, Brent Pfeiffenberger, Pharm. D., to serve as Chairman of the Board to succeed Joseph
Jimenez, effective as of August 14, 2025.

Decrease in Size of Board and Committee Changes

On August 13, 2025, each of Joseph Jimenez and Cynthia Butitta
notified the Board of their intent to step down from the Board, effective as of August 14, 2025. The departures of each of Mr. Jimenez
and Ms. Butitta did not result from any disagreement with the Company on any matter relating to its operations, policies or practices.
Effective August 14, 2025, the Board approved its reduction in size from eight to six members.

In connection with Mr. Jimenez and Ms. Butitta’s departures,
Kimberly Blackwell was appointed chair of the Nominating and Corporate Governance Committee and Alessandro Riva was appointed a member
of the Compensation Committee.

Consulting Agreement

In connection with Mr. Jimenez’s departure from the Board,
on August 13, 2025, the Board approved the entry into a consulting agreement with Mr. Jimenez, to be effective as of August 14,
2025. (the “ Consulting Agreement”). Pursuant to the Consulting Agreement, Mr. Jimenez will provide strategic advice
to the Company’s chairman of the Board and as compensation for such services, all of the outstanding equity awards of Mr. Jimenez
will continue to vest pursuant to their terms for the duration of Mr. Jimenez’s service as an advisor to the Company under
the Consulting Agreement.

Chief Executive Officer Retention Award

On August 13, 2025, the Board approved a retention grant of 1,587,614
restricted stock units (the “ Retention Award”) for Brent Pfeiffenberger, Pharm. D. in connection with his service as
the Company’s Chief Executive Officer. The Retention Award will be granted on August 14, 2025 (the “ Grant Date”)
and is subject to the provisions of the Company’s 2021 Equity Incentive Plan (the “ Plan”). The Retention Award
shall vest 50%