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ATHX > SEC Filings for ATHX > Form 8-K on 20-Sep-2013All Recent SEC Filings

Show all filings for ATHERSYS, INC / NEW

Form 8-K for ATHERSYS, INC / NEW


Other Events

Item 8.01. Other Events.

As previously disclosed in its Form 8-K filed on June 20, 2013, Athersys, Inc. (the "Company" or "we"), in connection with the termination of certain incentive agreements, established in 2005, granted restricted stock units ("RSUs") to each of its named executive officers. The RSUs vest ratably and quarterly over a three-year term, beginning June 18, 2013.

On September 18, 2013, an aggregate total of 225,002 shares vested for the named executive officers. In order to satisfy the minimum tax withholding requirements incurred and payable at the time of this vesting event, the Company withheld 75,850 shares from the named executive officers, which are reported as a disposition of shares related to the vesting of these awards. As the minimum tax withholding amounts do not fully satisfy the tax liabilities incurred as a result of the awards, some or all of the recipients may periodically sell some of their shares, either as part of a 10b5-1 plan or other permitted dispositions, to fund tax withholding obligations and for other tax and financial planning purposes.

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