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

On October 4, 2012, Aastrom Biosciences, Inc. (the "Company") announced that Tim M. Mayleben has decided to retire from his position as the Company's President and Chief Executive Officer once the Company has hired his successor. As a result of his decision, the Company Board of Directors has initiated a search for a new Chief Executive Officer. In addition to remaining as President and Chief Executive Officer until a successor is found, Mr. Mayleben will continue to serve as a member of the Company's Board of Directors after the transition. The Company also announced that Robert L. Zerbe, M.D., a director of the Company, has been named chairman of the Company's Board of Directors.

A copy of the press release issued by the Company on October 4, 2012 announcing Mr. Mayleben's intent to retire and Dr. Zerbe's appointment as chairman is attached as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1 Press Release dated October 4, 2012.

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