Brian M. Culley - Jun 28, 2021 Form 4 Insider Report for Lineage Cell Therapeutics, Inc. (LCTX)

Role: President and CEO, Director
Signature: /s/ Brian M. Culley
Stock symbol: LCTX
Transactions as of: Jun 28, 2021
Transactions value $: -$1,055,125
Form type: 4
Date filed: 6/30/2021, 06:42 PM
Next filing: Oct 12, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LCTX	Common Shares, no par value	Options Exercise	$208K	+300K	+153.29%	$0.69	496K	Jun 28, 2021	Direct	F1
transaction	LCTX	Common Shares, no par value	Sale	-$1.29M	-450K	-90.78%	$2.87	45.7K	Jun 28, 2021	Direct	F1, F2, F3
transaction	LCTX	Common Shares, no par value	Options Exercise	$44K	+15.5K	+33.8%	$2.85	61.2K	Jun 30, 2021	Direct	F1, F4
transaction	LCTX	Common Shares, no par value	Tax liability	-$15.2K	-5.34K	-8.74%	$2.85	55.8K	Jun 30, 2021	Direct	F1, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LCTX	Employee Stock Option (right to buy)	Options Exercise	$0	-300K	-24.32%	$0.00	933K	Jun 28, 2021	Common Shares	300K	$0.69	Direct	F6
transaction	LCTX	Restricted Stock Units	Options Exercise	$0	-15.5K	-20%	$0.00	61.8K	Jun 30, 2021	Common Shares	15.5K	$0.00	Direct	F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Does not include restricted stock units ("RSUs") that may be settled in shares of the issuer's common stock that have not vested as of the date of this report or shares that may be acquired upon the exercise of stock options outstanding as of the date of this report.
F2	Shares sold pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 18, 2020.
F3	The price reported is a weighted average. These shares were sold in multiple transactions at prices ranging from not less than $2.81 to not more than $2.93. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.
F4	Shares earned by the reporting person as a result of the vesting of a portion of RSUs granted to the reporting person on September 17, 2018. RSUs convert into common shares on a one-for-one basis.
F5	Shares withheld by the issuer to satisfy statutory tax withholding requirements on the vesting of 15,450 RSUs in a transaction exempt under Rule 16(b)-3. No shares were sold in connection with this transaction.
F6	The reporting person was granted options on March 17, 2020, with an exercise price of $0.6919 per share to purchase up to 1,233,300 shares. One quarter of the options vested and became exercisable on March 17, 2021, the first anniversary of the grant date, and the balance vest in 36 monthly installments thereafter upon completion of each month of the reporting person's continuous employment.
F7	The reporting person was granted RSUs on September 17, 2018, that vested with respect to 25% of the shares subject to the award on September 17, 2019, and the balance vest in 12 equal quarterly installments at the end of each quarter thereafter.