Longeveron names Marie Washburn as CFO, revises CEO pay, grants Executive Chairman equity

Longeveron Inc. appointed Marie Washburn to the Company's executive leadership team in the role of Senior Vice President and Chief Financial Officer, principal financial officer and principal accounting officer of the Company, effective July 13, 2026.¹ Lisa Locklear, the prior CFO, had provided notice on June 1, 2026 of her decision to step down, effective July 10, 2026.¹

Washburn has served as the Company's Vice President and Corporate Controller since November 2025, and before joining the Company spent over 20 years in the pharmaceutical and biotech sectors, most recently as Vice President of Finance at Fore Biotherapeutics, Inc. from January 2025 to June 2025, and in multiple roles at Axcella Health, Inc. from December 2019 to June 2024.¹ Under her letter agreement, she will receive a base salary of $340,000 per year, is eligible for a performance-based annual cash incentive with a target equal to 45% of base salary, and will receive an equity award of 130,000 time-based vesting Restricted Stock Units as of the effective date.¹

Separately, on July 8, 2026, Longeveron entered into a revised letter agreement with CEO Stephen Willard. Under the revised terms, Willard's entitlement to a $500,000 annual base salary is no longer tied to the deferral period set out in his original February 2026 agreement.² He remains eligible for an annual cash bonus with an initial target of 45% of base salary, with 80% tied to corporate goals and 20% at Board discretion.² His initial equity awards of 200,000 restricted stock units and options for 200,000 shares will now vest quarterly over three years instead of the original four-year schedule.²

In a third filing, Longeveron disclosed that on July 6, 2026 it issued special equity awards to its Executive Chairman in recognition of his role in completing the Company's March 2026 financing transaction and for his continued service.³ The awards total 500,000 RSUs tied to the financing, plus 100,000 additional RSUs and 400,000 stock options for continued service, all vesting quarterly over three years starting October 1, 2026 and converting into Class B Common Stock.³