# EDGAR Filing Document

**Accession Number:** 0001721484
**File Stem:** 0001213900-26-016519
**Filing Date:** 2026-2
**Character Count:** 57416
**Document Hash:** ace7e1deff603d26051dcad5ab39f481
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-016519.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0001213900-26-016519

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20260209

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Longeveron Inc.
- **CENTRAL INDEX KEY:** 0001721484
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 472174146
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40060
- **FILM NUMBER:** 26634020

**BUSINESS ADDRESS:**
- **STREET 1:** 1951 NW 7TH AVENUE
- **STREET 2:** SUITE 520
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33136
- **BUSINESS PHONE:** 305-302-7158

**MAIL ADDRESS:**
- **STREET 1:** 1951 NW 7TH AVENUE
- **STREET 2:** SUITE 520
- **CITY:** MIAMI
- **STATE:** FL
- **ZIP:** 33136

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LONGEVERON LLC
- **DATE OF NAME CHANGE:** 20171101

?xml version='1.0' encoding='ASCII'?

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549** 

**FORM 8-K**

**CURRENT REPORT** 

**Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934** 

Date of Report (Date of earliest event reported): February 9, 2026

**Longeveron Inc.**

(Exact name of registrant as specified in its charter)

<u>Delaware</u> <u>001-40060</u> <u>47-2174146</u> <br> (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

<u>1951 NW 7th Avenue, Suite 520, Miami, Florida 33136</u>

(Address of principal executive offices)

Registrant's telephone number, including area code: (305) 909-0840

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **Class A Common Stock, $0.001 par value per share** | **LGVN** | **The Nasdaq Capital Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

**Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On February 9, 2026, Than Powell, Interim Chief Executive Officer of Longeveron Inc. (the "Company"), provided notice to the Company of his resignation as Interim Chief Executive Officer of the Company, but will remain with the Company in his prior business development role. In connection with Mr. Powell's departure, the Board has appointed Stephen H. Willard to serve as the permanent Chief Executive Officer, effective February <u>11</u>, 2026 (the "Effective Date").

Mr. Willard, age 65, has over 30 years of pharmaceutical and biotech leadership experience across public and private sectors, including more than 20 years of experience as the Chief Executive Officer of pharmaceutical and biotech companies, most recently at ICaPath, Inc. a biotechnology company developing novel immunotherapies in the cancer space. Prior to that time, Mr. Willard served as Chief Executive Officer of NRx Pharmaceuticals, Inc. (Nasdaq: NRXP), a clinical-stage biopharma company developing therapeutics for the treatment of central nervous system disorders, from July 2022 to October 2024, and Cellphire, Inc., a clinical stage cellular therapeutics company, from November 2013 until March 2021. In addition, since March 2021 he has served as the Executive Director of Global Life Technologies (Nozin) an infection prevention company, and from March 2018 until November 2024, Mr. Willard served as a Presidentially-commissioned member of the National Science Board, which governs the National Science Foundation. Mr. Willard received a B.A. from Williams College in 1982 and a J.D. from Yale Law School in 1985, where he edited the Yale Law Journal.

In connection with the appointment to Chief Executive Officer, Mr. Willard entered into a Letter Agreement (the "Agreement") with the Company, pursuant to which Mr. Willard will be entitled to receive a base salary of $500,000 per year, following an initial deferral period commencing on or about February 9, 2026, whereby Mr. Willard and the Company's Executive Chairman Dr. Joshua M. Hare will defer approximately fifty percent (50%) of their respective base compensation to support the financial needs of the Company (the "Deferral Period"). The Company currently anticipates that the Deferral Period will be temporary. During the Deferral Period, Mr. Willard will be entitled to receive a base salary of $250,000 per year. Under the Agreement, at the Company's sole discretion and option, the Company may pay Mr. Willard's salary in cash or in equity in lieu of cash, each in accordance with the Company's regular payroll practices. Mr. Willard will also be eligible to receive short and long-term equity incentive awards pursuant to the terms of the Company's Third Amended and Restated 2021 Incentive Award Plan (or any successor plan thereto), which will include an initial award of 200,000 shares of the Company's Class A common stock, par value $0.001 per share (the "Class A Common Stock"), an award of 200,000 restricted stock units (RSUs), and <u>a</u> stock option award exercisable for 200,000 shares of Class A Common Stock, with both vesting quarterly over a four-year period.

Under the Agreement, Mr. Willard will also be eligible for participation in standard Company employee benefit programs as well as termination and severance benefits. The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

There are no other arrangements or understandings between Mr. Willard, on the one hand, and the Company or any other persons, on the other hand, pursuant to which Mr. Willard was selected as Chief Executive Officer of the Company. Mr. Willard has no family relationships with any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company. There have been no transactions since the beginning of the Company's last fiscal year, or currently proposed, in which the Company was or is to be a participant and in which Mr. Willard had or will have a direct or indirect material interest that are required to be disclosed under Item 404(a) of Regulation S-K.

A copy of the press release announcing the transition described herein is attached to this report as Exhibit 99.1 and is hereby incorporated by reference.

**Named Executive Officer Compensation and Cost Reduction Measures**

On February 9, 2026, in connection with the ongoing review of its cash runway and cost structure, and following Board approval, the Company implemented a temporary 50% reduction in the compensation of the Company's CEO and its Executive Chairman/CSO. The Company is undertaking these compensation reductions as part of other cost-savings efforts, which includes other actions, including the furlough of certain Company employees, reduction in Board of Directors fees, travel limitations and other cost-reduction efforts. These reductions will become effective commencing on or about February 16. The Company anticipates that executive compensation will be restored to the amounts in effect immediately prior to such reductions at such time as the Company secures sufficient financing or other sources of capital.

The Company currently intends, subject to a good-faith determination of its financial ability to do so, to repay the members of the Company's executive leadership team an amount equal to the difference between such executive's base salary in effect immediately prior to the reduction and the reduced salary paid during the applicable reduction period. Any such repayment is not guaranteed and shall be solely at the Company's discretion, contingent upon the Company's financial condition. In consideration of the reduction and each executive's continued service, subject to approval of the Board (or an applicable committee thereof), the Company intends to grant each executive an aggregate of 50,000 restricted stock units, which shall vest on or around June 1, 2026, in accordance with the terms of the Company's Third Amended and Restated 2021 Incentive Award Plan.

**<u>Cautionary Note Regarding Forward-Looking Statements</u>**

This Current Report on Form 8-K and certain of the materials filed herewith contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which reflect management's current expectations, assumptions, and estimates of future operations, performance and economic conditions, and involve known and unknown risks, uncertainties and other important factors that could cause actual results, performance or achievements to differ materially from those anticipated, expressed, or implied. Forward-looking statements are generally identifiable by terms such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "looks to," "may," "on condition," "plan," "potential," "predict," "preliminary," "project," "see," "should," "target," "will," "would" or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words, or by discussion of strategy or goals or other future events, circumstances or effects. The forward-looking statements in this Current Report on Form 8-K are made on the basis of the views and assumptions of management regarding future events and business performance as of the date this Current Report on Form 8-K is filed with the SEC. We have based these forward-looking statements largely on our current expectations and projections about our business, the industry in which we operate and financial trends that we believe may affect our business, financial condition, results of operations and prospects, and these forward-looking statements are not guarantees of future performance or development. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause actual events, results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements contained in this Current Report on Form 8-K or the materials furnished or filed herewith. These items include, but are not limited to, statements regarding: the future restoration of executive compensation levels; our intention and ability to repay certain compensation amounts to executives or rehire employees currently furloughed; the grant of certain equity awards; market and other conditions, our cash position and need to raise additional capital, difficulties we may face in obtaining access to capital, and the dilutive impact it may have on our investors; our financial performance and ability to continue as a going concern; the accuracy of estimates regarding the period for which our existing cash and cash equivalents will be sufficient to fund our future operating expenses and capital expenditure requirements; the ability of our clinical trials to demonstrate safety and efficacy of our investigational product candidates, and other positive results; the timing and focus of our ongoing and future preclinical studies and clinical trials, and the reporting of data from those studies and trials; the size of the market opportunity for certain of our investigational product candidates, including our estimates of the number of patients who suffer from the diseases we are targeting; our ability to scale production and commercialize the investigational product candidate for certain indications; the success of competing therapies that are or may become available; the beneficial characteristics, safety, efficacy and therapeutic effects of our investigational product candidates; our ability to obtain and maintain regulatory approval of our investigational product candidates in the U.S. and other jurisdictions; our plans relating to the further development of our investigational product candidates, including additional disease states or indications we may pursue; our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others; the need to hire additional personnel and our ability to attract and retain such personnel; and our estimates regarding expenses, future revenue, capital requirements and needs for additional financing.

These forward-looking statements are made as of the date of this Current Report on Form 8-K and are subject to a number of risks, uncertainties and assumptions described in greater detail in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 28, 2025, its Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. These statements are inherently uncertain, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future, events or otherwise occurring after the date this Current Report on Form 8-K is filed.

**Item 9.01. Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 10.1 | [Letter Agreement, dated February 11, 2026](ea027710101ex10-1_longeveron.htm) |
| 99.1 | [Press Release](ea027710101ex99-1_longeveron.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **LONGEVERON INC.** | **LONGEVERON INC.** |
| Date: February 13, 2026 | /s/ Lisa A. Locklear | /s/ Lisa A. Locklear |
|  | Name: | Lisa A. Locklear |
|  | Title: | Chief Financial Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

![](ex10-1_001.jpg)

February 11, 2026

Dear Steve:

This letter agreement (this "<u>Agreement</u>") sets forth the terms and conditions of your (referred to as "you" or "your" or "executive") employment with Longeveron Inc. (the "<u>Company</u>"), which shall be effective as of February 11, 2026 (the "<u>Effective Date</u>"). This Agreement will govern your employment with the Company following the Effective Date on the following terms and conditions:

1.  **<u>Term.</u>** The term of your employment with the Company will terminate upon delivery to you by
the Company of notice to such effect, which notice may be given for any or no reason, or upon your earlier resignation, death or Disability.
You acknowledge that no provision contained in this Agreement will entitle you to remain in the employment of the Company for any specific
period of time or affect the right of the Company to terminate your employment hereunder at any time for any reason, subject to compliance
with the termination provisions set forth herein. The period during which you are employed by the Company pursuant to this Agreement shall
be referred to as the "Term." For purposes of this Agreement, "Disability" shall mean your inability, due to physical
or mental incapacity, to perform the essential functions of your job, for one hundred eighty (180) days out of any three hundred sixty-five
(365) day period or one hundred twenty (120) consecutive days or receiving any disability benefits under a Company plan for a period of
one hundred twenty (120) consecutive days or longer.

2.  **<u>Position, Duties and Reporting.</u>** Your position will be Chief Executive Officer (" <u>CEO</u> ")
of the Company, and you will report directly to the Board of Directors (the " <u>Board</u> ") of the Company. You shall be employed
by the Company on a full-time basis and shall perform such duties and responsibilities on behalf of the Company as are consistent with
your position, as may be designated from time to time by the Board. You will be required to devote all of your business time to the business
and affairs of the Company and to the promotion of its interests. Notwithstanding the foregoing, you may engage in other activities such
as personal investments or business ventures that do not involve a conflict of interest with Company or civic and charitable activities,
so long as: (i) such activities do not interfere or conflict with your duties and obligations hereunder and (ii) such activities are disclosed
in advance to the Company. In addition, you shall be permitted to serve as a director on up to two (2) other publicly-traded company's
Board of Directors, in addition to current not-for-profit Board of Director positions, so long as they do not compete with Company and
subject to your prior disclosure and consent of the Board.

&nbsp;&nbsp;&nbsp;&nbsp;3. **Compensation and Benefits**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. **Base Salary**. During the Term, your annual base salary
will be Five Hundred Thousand Dollars ($500,000.00) per year (following the \*Deferral Period)<sup>1</sup> and $250,000 (during the \*Deferral
Period) annually in cash, or in equity in lieu of cash in whole or in part at the Company's sole discretion and option, with the
cash portion, if any, to be paid in accordance with the Company's regular payroll practices, and with the equity portion, if any,
to be paid on the second payroll date of the applicable month, with the equity valued as of the date of payment in accordance with the
Company's regular payroll practices, based on the closing sale price of the Company's Class A common stock on the
trading day immediately preceding the payment date. All amounts paid shall be less the applicable taxes and elective withholdings
and any other necessary withholdings or deductions. Your base salary is subject to review and adjustment on at least an annual
basis, as determined by the Board, with review and approval as may be required by the Compensation Committee of the Board (the
"Compensation Committee") and/or the Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. **Equity Incentive Awards.** During the Term, you will be eligible to receive short and long-term equity incentive awards pursuant to the terms
of the Company's Second Amended and Restated 2021 Incentive Award Plan (the " <u>2021 Plan</u> "), or any successor plan
thereto, in accordance with Appendix A attached hereto and incorporated herein.

<sup>1</sup> **\*Deferral Period** – commencing on or about February 9, 2026, among other financial cuts being implemented, the CEO and Executive Chairman are deferring 50% of their base pay to support the financial needs of the Company, with the hope that this will be of limited duration of three (3) months or less, dependent upon financing, after which time, the base pay will resume to the previously approved levels with the goal, but not guarantee, of repayment of the deferred amount based on Company financing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. **Benefits.** During your employment with the Company,
you will be eligible for participation in employee health and welfare benefits programs, retirement programs, and other fringe benefits
maintained by the Company, to the extent consistent with applicable law and the terms of the applicable plans and programs available
to similarly situated executives of the Company. The Company retains all rights to amend or terminate any such benefit plans and programs,
subject to the terms of such employee benefit plans and programs and applicable law, and nothing contained herein shall obligate the
Company to continue any benefit plans or programs in the future. You will be entitled to all paid holidays as are observed by the Company,
and paid vacation per Company policies, to be taken at times mutually acceptable to you and the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. **Business Expenses.** During the Term, the Company will
reimburse you for reasonable business expenses, including travel, entertainment, and other expenses incurred by you in the furtherance
of the performance of your duties hereunder, in accordance with the Company's Travel and Entertainment policy as in effect from time to time. Domestic
travel shall be at economy-plus (or better) class, and international travel shall be at business class (or better).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. All payments made under this Agreement shall be reduced by
any tax or other amounts required to be withheld under applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. **Place of Duty.** You will be allowed to work remotely
full-time from your residence in Washington, D.C. or location of your choice so long as you are present at the Company's office
in Miami from time to time for business needs as may be reasonably required by the job as requested by the Board.

&nbsp;&nbsp;&nbsp;&nbsp;4. **Termination and Severance.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Upon your termination of employment for any reason, the Company
shall pay to you (i) your base salary earned through the date of such termination, (ii) amounts for accrued but unused vacation days,
(iii) all compensation and employee benefits, if any, that are due and owing to you under the terms of the Company's employee benefit
plans and programs, in each case, in accordance with and subject to the terms and conditions of the applicable employee benefit plan,
and (iv) any unreimbursed business expenses to which you would be entitled in accordance with the Company's reimbursement policy,
not later than thirty (30) business days after the customary documentation regarding such expenses has been received and only to the
extent that such expenses are submitted within one year of your termination (collectively, " <u>Accrued Amounts</u> "). The
Accrued Amounts shall be paid in a lump sum on the first regular payday following the date of termination (or sooner if required by law).
For avoidance of doubt, your rights and obligations with respect to equity awards, if any, shall be controlled by, and subject to, the
terms and conditions set forth in the 2021 Plan or successor plan and the applicable award agreements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. In the event your employment is terminated during the Term
by the Company without Cause (as defined below) or by you for Good Reason (as defined below), in addition to the Accrued Amounts, you
will be entitled to receive, subject to your timely execution and non-revocation of a Release (as defined below) (i) severance benefits
in the amount of three (3) months of your then existing Base Salary for every year you have worked full time for Longeveron, and prorated
for partial years and capped at a maximum of twelve (12) months, provided, however, that in no case shall any severance be due until
after you have been in the Company CEO role for at least one-full year, and further that after such time, the severance benefit under
this section shall not be less than six (6) months of your then existing Base Salary, payable in the form of salary continuation; and
(ii) if you are eligible for and timely elect to continue health benefits under COBRA, the Company will pay the applicable COBRA premiums
until the earlier of: (A) three (3) months for each year you have worked full time for Longeveron, and prorated for partial years (but
with a minimum of six (6) months so long as you have been in the Company CEO role for at least one-full year), and up to eighteen (18)
months of COBRA continuation coverage, or whatever the maximum period of COBRA coverage may be at that time, whichever is greater; (B)
the date you cease to be eligible for COBRA continuation coverage; or (C) the date you receive substantially equivalent health coverage
from another means or employer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. [Reserved]

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. In the event that your employment is terminated by the Company
for Cause, or on account of your death, Disability or voluntary resignation, other than for reasons described in subsections (b) or (c)
above, you will not be entitled to receive any payments under this Agreement other than the amounts specified in subsection (a) above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Payment of any severance payments or benefits pursuant to
subsection (b) above is expressly conditioned upon your (i) execution of a general waiver and release of claims in such form and substance
as reasonably required by the Company (the " <u>Release</u> "),
within twenty-one (21) days of your termination unless additional time is required by law, and the Release becoming effective upon the
expiration of the revocation period (which is seven days after the Release is executed and returned to the Company) and (ii) continued
compliance with this Agreement and the Covenant Agreement (as defined below). If an executed Release is not returned to the Company within
twenty-one (21) days of termination unless additional time is required by law or the Release is revoked by you, the Company shall be relieved
of all obligations to pay you severance under this Agreement. The payment described in subsection 4(b)(i) shall be paid, as mutually agreed
by you and the Company, in the form of salary continuation and shall be made in substantially equal installments, consistent with the
other members of the c-suite, at least monthly, commencing on or before the 60th day following your termination date. The first such
payment shall include payment of all severance benefits that otherwise would have been due prior to such date, applied as though such
payments commenced on the next normal pay date immediately following your termination date. The payment described in subsection 4(c)(i)
shall be paid on or before the 60th day following your termination date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f. For purposes of this Agreement:

"***Cause***" shall include, but not be limited to: (i) the executive's unauthorized use or disclosure of confidential information or trade secrets of the Company or any subsidiary, or any material breach of a written agreement between the executive and the Company or any of its subsidiaries, including without limitation a material breach of any employment, confidentiality, non-compete, non-solicit or similar agreement; (ii) the executive's commission of, indictment for or the entry of a plea of guilty or *nolo contendere* by the executive to, a felony under the laws of the United States or any state thereof or any crime involving dishonesty or moral turpitude (or any similar crime in any jurisdiction outside the United States); (iii) the executive's gross negligence or willful misconduct which is materially injurious to the Company or any of its subsidiaries, or the executive's willful or repeated failure or refusal to substantially perform material assigned duties; (iv) any act of fraud, embezzlement, material misappropriation or dishonesty committed by the executive against the Company or any of its subsidiaries; (v) the material violation by the executive of any rule or policy of the Company or any of its subsidiaries of which the executive had written notice; or (v) any acts, omissions or statements by executive which the Company reasonably determines to be materially detrimental or damaging to the reputation, operations, prospects or business relations of the Company or any subsidiary; *provided further* that for any "Cause" reasonably capable of cure, "Cause" shall not exist unless Company has provided executive with written notice of the "Cause," and executive fails to cure the events or issues giving rise to the "Cause" within thirty (30) days of Company's notice.

"***Good Reason***" means (i) a change in the executive's position with the Company that materially reduces the executive's title, authority, duties or responsibilities or the level of management to which he or she reports, (ii) a material change in executive's Place of Duty, or material diminution in the executive's level of compensation (including base salary, fringe benefits and target bonuses under any corporate performance-based incentive programs), excluding any reduction that applies generally to similarly situated employees of the Company, and excluding any change made in connection with the termination of your employment for Cause, or on account of your death or Disability, or temporarily as a result of your Disability or other absence for an extended period; *provided*, that you will not have the right to resign for Good Reason pursuant to this provision of the Good Reason definition due to a change in authority, duties or responsibilities solely as a result of the Company no longer being a publicly traded company; and *provided further* that for any "Good Reason" reasonably capable of cure, "Good Reason" shall not exist unless executive has provided Company with written notice of the "Good Reason," and Company fails to cure the events or issues giving rise to the "Good Reason" within thirty (30) days of executive's notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g. Effective as of the date of your termination of employment,
unless otherwise requested by the Company in writing, you will, automatically and without further action on your part or any other person
or entity, resign from all offices, boards of directors (or similar governing bodies) and committees of the Company. You agree that you
will, at the request of the Company, execute and deliver such documentation as may be required to effect such resignations, and authorize
any member of the Company to file (or cause to be filed) such documentation, as necessary, with any applicable governmental authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h. In consideration for the promises and payments by the Company
pursuant to this Agreement, at the request of the Company, for a one-year period following your termination of employment for any reason,
you agree to cooperate to the fullest extent possible with respect to matters involving any member of the Company about which you have
or may have knowledge, including any such matters which may arise before or after the Term; *provided* such cooperation shall not
unreasonably interfere with any obligations you may have to your current employer at the time. The Company will compensate you for your
time at a reasonable rate to be agreed to, reimburse you for any reasonable, properly documented out-of-pocket expenses, including your
travel expenses and attorneys' fees that you actually incur in connection with such cooperation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The Company shall provide Director and Officers (D&O)
insurance coverage from the start date of employment in accordance with its existing policies.

5.  **<u>Section 409A</u>** . This Agreement is intended to comply with Section 409A of the Code ("Section
409A") or an exemption thereunder and shall be administered and interpreted accordingly. Each payment under this Agreement, including
each installment payment, shall be considered a separate and distinct payment. For purposes of this agreement, each payment is intended
to be excepted from Section 409A to the maximum extent provided as follows: (i) each payment made within the applicable 2½ month
period specified in Treas. Reg. § 1.409A-1(b)(4) is intended to be excepted under
the short-term deferral exception; (ii) post-termination medical benefits are intended to be excepted under the medical benefits exceptions
as specified in Treas. Reg. § 1.409A-1(b)(9)(v)(B); and (iii) to the extent payments are made as a result of an involuntary separation,
each payment that is not otherwise excepted under the short-term deferral exception or medical benefits exception is intended to be excepted
under the involuntary pay exception as specified in Treas. Reg. § 1.409A-1(b)(9)(iii). With respect to any payment subject to Section
409A (and not excepted therefrom), if any, it is intended that each payment is paid on a permissible distribution event and at a specified
time consistent with Section 409A. You shall have no right to designate the date of any payment under this Agreement. In the event the
terms of this Agreement would subject you to the imposition of taxes and penalties under Section 409A ("409A Penalties"),
the Company and you shall cooperate diligently to amend the terms of this Agreement to avoid such 409A Penalties, to the extent possible; *provided* that, for the avoidance of doubt, you shall be solely liable for any 409A Penalties incurred by you.

All references in this Agreement to your termination of employment shall mean your "separation from service" within the meaning of Section 409A of the Code and Treas. Reg. § 1.409A-1(h). Whether you have had a separation from service will be determined based on all of the facts and circumstances and in accordance with the guidance issued under Section 409A.

Notwithstanding any other provision of this Agreement to the contrary, if any payment or benefit provided to you in connection with your termination of employment is determined to constitute "nonqualified deferred compensation" within the meaning of Section 409A and you are determined by the Company to be a "specified employee" as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date following the six-month anniversary of your termination date or, if earlier, on your death (the "Delayed Payment Date"). The aggregate of any payments that would otherwise have been paid before the Delayed Payment Date shall be paid (without interest) to you (or your estate or beneficiaries) in a lump sum on the Delayed Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.

With respect to any taxable expense reimbursements, in-kind benefits and/or cash allowances provided or paid by the Company under this Agreement, such reimbursement shall be made in accordance with and subject to the following terms and conditions: (i) reimbursements shall only be made to the extent that the expense was actually incurred and reasonably substantiated; (ii) reimbursements of eligible expenses shall be made on or before the last day of your taxable year following the taxable year in which you incurred the expense; (iii) the amount of any expenses eligible for reimbursement or the amount of any in-kind benefits provided, as the case may be, under this Agreement during any calendar year shall not affect the amount of expenses eligible for reimbursement or the amount of any in-kind benefits provided during any other calendar year; and (iv) the right to reimbursement or to any in-kind benefit pursuant to this Agreement shall not be subject to liquidation or exchange for any other benefit.

Notwithstanding any provision of this Agreement to the contrary, you acknowledge and agree that the Company and its employees, officers, directors and affiliates are not providing you with any tax advice with respect to Section 409A of the Code or otherwise and are not making any guarantees or other assurances of any kind to you with respect to the tax consequences or treatment of any amounts paid or payable to you under this Agreement. Nothing provided or contained in this Agreement will be construed to obligate or cause the Company and/or its employees, officers, directors, subsidiaries and affiliates to be liable for, any tax, interest or penalties imposed on you related to or arising with respect to any violation of Section 409A.

6.  **<u>Section 280G</u>** . If the present value of your severance benefits, either alone or together
with other payments which you have the right to receive from the Company (the "Benefits") constitute a "parachute payment"
as defined in Section 280G of the Code, then your Benefits
shall be either (i) provided to you in full, or (ii) provided to you only as to such lesser extent that would result in no portion of
such Benefits being subject to the excise tax imposed by Section 4999 of the Code (the "Excise Tax"), whichever of the foregoing
amounts, taking into account the applicable federal, state, and local income and employment taxes and the Excise Tax, results in the receipt
by you, on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such Benefits may be taxable
under the Excise Tax.

Unless the Company and you otherwise agree, any determination required under section shall be made in writing in good faith by the Company's independent accounting firm or such other nationally or regionally recognized accounting firm selected by the Company (the "Accountants"), whose determination shall be conclusive and binding upon you and the Company for all purposes. In the event that a reduction to the Benefits under this section, the reduction shall apply first to the Benefits that are not deferred compensation subject to Section 409A of the Code and you shall be given the choice, subject to approval by the Company, of which of such Benefits to reduce; provided, that such reduction achieves the result specified in clause (ii) above of this section. If a reduction in the Benefits that are subject to Section 409A of the Code is required, such Benefits shall be reduced pro rata, but with no change in the time at which such Benefits shall be paid. For purposes of making the calculations required by this section, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of the Code. The Company and you shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this section. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this section.

7.  **<u>Restrictive Covenant Obligations</u>** . You acknowledge and agree that you will be subject to
the Company's existing policies regarding confidentiality, non-disclosure, non-use, non-competition, non-solicitation or other covenants
pursuant to the terms of that certain Confidentiality and Nondisclosure Agreement with the Company, which has been executed prior to the
Effective Date (the "Covenant Agreement"). Notwithstanding any provision in this Agreement, the Covenant Agreement or otherwise
to the contrary, nothing in this Agreement, the Covenant Agreement or otherwise precludes or otherwise limits your ability to (A) communicate
directly with and provide information, including documents, not otherwise protected from disclosure by any applicable law or privilege
to the Securities and Exchange Commission (the "SEC") or any other federal, state or local governmental agency or commission ("Government
Agency") or self-regulatory organization regarding possible legal violations, without disclosure to the Company, or (B) disclose
information which is required to be disclosed by applicable law, regulation, or order or requirement (including without limitation, by
deposition, interrogatory, requests for documents, subpoena, civil investigative demand or similar process) of courts, administrative
agencies, the SEC, any Government Agency or self-regulatory organizations, provided that, if permissible by law, you provide the Company
with prior notice of the contemplated disclosure and cooperate with the Company in seeking a protective order or other appropriate protection
of such information. The Company may not retaliate against you for any of these activities.

8.  **<u>Representation Regarding Prior Commitment</u>** . You represent that your performance of all of the terms of this Agreement and the performance of the services for the Company does not and will not breach or conflict with any agreement with a third party, including an agreement not to compete or to keep in confidence any proprietary information of another entity acquired by you in confidence or in trust prior to the date of this Agreement. You agree that you will not enter into any agreement that conflicts with this Agreement during the term of your employment with the Company.

9.  **<u>Governing Law, Forum and Venue</u>** . This Agreement shall be governed, construed, interpreted and enforced in accordance with its express terms, and otherwise in accordance with the substantive laws of the State of Florida, without reference to the principles of conflicts of law or choice of law of the State of Florida, or any other jurisdiction, and where applicable, the laws of the United States. All questions pertaining to the validity, construction, execution and performance of this Agreement shall be construed and governed in accordance with the laws of the State of Florida, without giving effect to principles of conflicts or choice of law. Jurisdiction and venue for any disputes shall be, as appropriate, in the state courts in Miami-Dade County, FL, or the federal courts in the Southern District of Florida.

EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

10.  **<u>Validity</u>** . The invalidity or unenforceability of any provision or provisions of this Agreement
shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.
You were advised to seek counsel with regard to this Agreement and all employment terms, and you were represented by counsel.

11.  **<u>Final Agreement</u>** . The terms of this Agreement and the Covenant Agreement are intended by
the parties to be the final expression of their agreement with respect to your employment by the Company and supersede, effective as of
the Effective Date, all prior understandings and agreements with respect to your employment by the Company, whether written or oral. For
the avoidance of doubt, if the Effective Date does not occur, this Agreement will be void *ab initio*. Any other signed written agreements,
including referenced herein that are not in contradiction with this Agreement are in full force and effect.

12.  **<u>Assignment</u>** . The rights and benefits under this Agreement are personal to you and such
rights and benefits shall not be subject to assignment, alienation or transfer, except to the extent such rights and benefits are lawfully
available to your estate or any of your beneficiaries upon your death. The Company may assign this Agreement to any affiliate or subsidiary
at any time and shall require any entity which at any time becomes a successor, whether by merger, purchase, or otherwise, or otherwise
acquires all or substantially all of the assets, membership interests or business of the Company, to expressly assume this Agreement.

13.  **<u>Counterparts</u>** . This Agreement may be executed in several counterparts,
each of which shall be deemed to be an original, but all of which together will constitute one and the same Agreement. Signatures delivered
by facsimile shall be deemed effective for all purposes.

Please sign and date this Agreement in the space indicated and return it to my attention to evidence your understanding and acceptance of the terms set forth herein.

---

| | |
|:---|:---|
| Sincerely, | Sincerely, |
| **Longeveron Inc.** | **Longeveron Inc.** |
| **By:** | **/s/** Joshua Hare |
|  | **Josh Hare, Executive Chairman** |

---

---

| | |
|:---|:---|
| **Agreed to and Accepted:** | **Agreed to and Accepted:** |
| **By:** | /s/ Stephen Willard |
|  | **Stephen Willard** |

---

**<u>Appendix A <br> Incentive Equity Awards</u>**

**Equity Grants:** to be paid per below so long as CEO remains employed on the date of payout:

&nbsp;&nbsp;&nbsp;&nbsp;o 200,000 shares of Class A common stock to be awarded on March
2, 2026 following the Effective Date;

&nbsp;&nbsp;&nbsp;&nbsp;o 200,000 RSUs to be awarded on March 2, 2026 following the
Effective Date and vesting quarterly over a four-year period thereafter (i.e. sixteen (16) quarterly vesting events on each of January
1, April 1, July 1, and October 1 of each year, with the first vesting event to occur on April 1, 2026 after the Effective Date);

&nbsp;&nbsp;&nbsp;&nbsp;o 200,000 stock options to be awarded on March 2, 2026 following
the Effective Date and vesting quarterly over a four-year period thereafter (i.e. sixteen (16) quarterly vesting events on each of January
1, April 1, July 1, and October 1 of each year, with the first vesting event to occur on April 1, 2026 after the Effective Date);

&nbsp;&nbsp;&nbsp;&nbsp;o Annual equity grant (pro-rated as applicable) in accordance
with all other C-Suite Executives, as approved by the Compensation Committee and/or Board of Directors pursuant to and consistent with
the award parameters as determined by the compensation consultant reports as obtained by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;o Participation in any equity awards in connection with a change
in control transaction, as defined in the 2021 Plan, in the event that the Company is acquired within six months of the Effective Date
in accordance with all other C-Suite Executives, as approved by the Compensation Committee and/or Board of Directors.

&nbsp;&nbsp;&nbsp;&nbsp;o No acceleration of equity award vesting in connection with
a change in control of the Company.

## Exhibit 99.1

**Exhibit 99.1**

**Longeveron® Appoints Stephen H. Willard as Chief Executive Officer**

&nbsp;&nbsp;&nbsp;&nbsp;· *Mr. Willard has a 30+ year track record of leadership across public and private sectors as CEO of multiple biotechnology and pharmaceutical firms, with an impressive history of delivering significant fundraises and strategic collaborations* 

&nbsp;&nbsp;&nbsp;&nbsp;· *Corporate focus on delivering top-line results from the pivotal Phase 2b clinical trial in Hypoplastic Left Heart Syndrome (HLHS), anticipated in the third quarter of 2026* 

&nbsp;&nbsp;&nbsp;&nbsp;· *Than Powell stepped down as interim CEO; but will remain with the Company to support the leadership transition and continue his work in the Company's on-going business development activities* 

MIAMI, Fla. February 13, 2026 -- Longeveron Inc. (NASDAQ: LGVN), a clinical stage regenerative medicine biotechnology company developing cellular therapies for life-threatening, rare pediatric and chronic aging-related conditions, today announced that the Company's Board of Directors has appointed Stephen H. Willard as Chief Executive Officer, effective February 11, 2026. He succeeds Than Powell who served as interim CEO prior to the Board's appointment of Mr. Willard as permanent CEO. Mr. Powell will support the leadership transition and continue his work in the Company's on-going business development activities.

"I am delighted to welcome Stephen as CEO, particularly at this exciting time in Longeveron's history developing stem cell therapies addressing life threatening conditions in the most vulnerable populations - children and the elderly," said Joshua Hare, MD, FACC, FAHA, Executive Chairman and Chief Science Officer of Longeveron. "Our pivotal Phase 2b clinical trial evaluating laromestrocel as a potential treatment for HLHS is anticipated to produce top-line trial results in third quarter of this year. Longeveron has previously received FDA guidance that, if successful, this trial would be deemed a pivotal trial for purposes of BLA filing."

Roger Hajjar, MD, Chair of the Board's Nominating and Corporate Governance Committee, commented, "On behalf of the Board and management team, I want to thank Than for his significant contributions over the past six months, stepping in to provide effective leadership and stability through this transition. We would also like to welcome Steven to his new role. We believe his extensive strategic operations and executive leadership experience will help drive Longeveron's future success."

Mr. Willard, CEO, commented, "This is an extraordinary time for Longeveron and our stem cell therapy laromestrocel. It is an exciting opportunity to be able to join a company with three development programs at the stage of pivotal clinical trials. I look forward to working with the Longeveron team to ensure the long-term success of laromestrocel while focusing on extending our capital runway, and working with potential partners to leverage our stem cell technology for the benefit of patients and shareholders."

Mr. Willard was previously CEO of ICAPATH, Inc., CEO of NRx Pharmaceuticals, Inc., CEO of Cellphire, Inc., and CEO of Flamel Technologies, S.A., a NASDAQ-traded biotech company for seven years and served as CFO prior to becoming CEO. He formerly served as the Chairman of the Board of Directors of Flamel and formerly served on the Board of Directors of E\*Trade Financial Corporation. Mr. Willard received a Bachelor of Arts degree from Williams College and a Juris Doctorate from Yale Law School.

**About Longeveron Inc.**

Longeveron is a clinical stage biotechnology company developing regenerative medicines to address unmet medical needs. The Company's lead investigational product is laromestrocel (LOMECEL-B®), an allogeneic mesenchymal stem cell (MSC) therapy product isolated from the bone marrow of young, healthy adult donors. Laromestrocel has multiple potential mechanisms of action encompassing pro-vascular, pro-regenerative, anti-inflammatory, and tissue repair and healing effects with broad potential applications across a spectrum of disease areas. Longeveron is currently pursuing three pipeline indications: hypoplastic left heart syndrome (HLHS), Alzheimer's disease (AD), and Pediatric Dilated Cardiomyopathy (DCM). Laromestrocel development programs have received five distinct and important FDA designations: for the HLHS program - Orphan Drug designation, Fast Track designation, and Rare Pediatric Disease designation; and, for the AD program - Regenerative Medicine Advanced Therapy (RMAT) designation and Fast Track designation. For more information, visit www.longeveron.com or follow Longeveron on LinkedIn, X, and Instagram.

**Forward-Looking Statements**

Certain statements in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect management's current expectations, assumptions, and estimates of future operations, performance and economic conditions, and involve known and unknown risks, uncertainties, and other important factors that could cause actual results, performance, or achievements to differ materially from those anticipated, expressed, or implied by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expects," "intend," "looks to," "may," "on condition," "plan," "potential," "predict," "preliminary," "project," "see," "should," "target," "will," "would," or the negative thereof or comparable terminology, although not all forward-looking statements contain these words, or by discussion of strategy or goals or other future events, circumstances, or effects. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements in this release include, but are not limited to, the future restoration of executive compensation levels; our intention and ability to repay certain compensation amounts to executives or rehire employees currently furloughed; the grant of certain equity awards; market and other conditions, our cash position and need to raise additional capital, the difficulties we may face in obtaining access to capital, and the dilutive impact it may have on our investors; our financial performance, and ability to continue as a going concern; the period over which we estimate our existing cash and cash equivalents will be sufficient to fund our future operating expenses and capital expenditure requirements; the ability of our clinical trials to demonstrate safety and efficacy of our investigational product candidates, and other positive results; the timing and focus of our ongoing and future preclinical studies and clinical trials, and the reporting of data from those studies and trials; the size of the market opportunity for certain of our investigational product candidates, including our estimates of the number of patients who suffer from the diseases we are targeting; our ability to scale production and commercialize the investigational product candidate for certain indications; the success of competing therapies that are or may become available; the beneficial characteristics, safety, efficacy and therapeutic effects of our investigational product candidates; our ability to obtain and maintain regulatory approval of our investigational product candidates in the U.S. and other jurisdictions; our plans relating to the further development of our investigational product candidates, including additional disease states or indications we may pursue; our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others; the need to hire additional personnel and our ability to attract and retain such personnel; and our estimates regarding expenses, future revenue, capital requirements and needs for additional financing.

Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the Securities and Exchange Commission, including Longeveron's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 28, 2025, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. The Company operates in highly competitive and rapidly changing environment; therefore, new factors may arise, and it is not possible for the Company's management to predict all such factors that may arise nor assess the impact of such factors or the extent to which any individual factor or combination thereof, may cause results to differ materially from those contained in any forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release based on information available as of the date of this press release, are inherently uncertain, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

**Investor and Media Contact:**

Derek Cole<br> Investor Relations Advisory Solutions<br> derek.cole@iradvisory.com

###