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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>WASHINGTON, D.C. 20549 </B></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Securities Exchange Act of 1934 </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Date of report (Date of earliest event
reported): July 27, 2012 (July 25, 2012)</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Neuralstem, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Exact name of registrant as specified
in Charter) </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center; padding: 0"><B>Delaware</B></TD>
    <TD STYLE="width: 2%; vertical-align: bottom; font-weight: bold; padding: 0; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="width: 32%; vertical-align: top; font-weight: bold; text-align: center; padding: 0"><B>000-1357459</B></TD>
    <TD STYLE="width: 2%; vertical-align: bottom; font-weight: bold; padding: 0; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="width: 32%; vertical-align: top; padding: 0; text-align: center"><B>52-2007292 &nbsp;</B></TD></TR>
<TR>
    <TD STYLE="padding: 0; vertical-align: top; font-weight: bold; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="padding: 0; vertical-align: bottom; font-weight: bold; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="padding: 0; vertical-align: top; font-weight: bold; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="padding: 0; vertical-align: bottom; font-weight: bold; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="padding: 0; vertical-align: top; text-align: center"><B>&nbsp;</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-align: center"><B>(State or other jurisdiction of<BR>
 incorporation or organization)</B></TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0"><B>(Commission File No.)</B></TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center; padding: 0"><B>(IRS Employee Identification
    No.)</B></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>9700 Great Seneca Highway, Rockville,
Maryland 20850</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Address of Principal Executive Offices)
</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(301) 366-4841</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(Issuer Telephone
number) </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 (see General Instruction
A.2. below):</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
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    <TD STYLE="width: 12%; font-weight: bold; padding: 0; text-indent: 0">Item 5.02.</TD>
    <TD STYLE="font-weight: bold; padding: 0; text-indent: 0; width: 88%">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 25, 2012, Neuralstem, Inc. (&ldquo;Company&rdquo;)
renewed the employment contracts of: (i) Mr. I. Richard Garr, the Company&rsquo;s CEO, interim CFO and general counsel, (ii) Dr.
Karl Johe, the Company&rsquo;s Chief Scientific Officer and (iii) Dr. Tom Hazel, the Company&rsquo;s Senior Vice President of Research.
The renewals extend the current employment agreements of Mr. Garr, Dr. Johe and Dr. Hazel for an additional period of 60 months.
Accordingly, the termination date for the employment agreements of Mr. Garr and Dr. Johe will now be October 31, 2017. The termination
date for Dr. Hazel&rsquo;s employment agreement will be August 11, 2017. All other terms and conditions of their respective employment
agreements remained the same.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with Dr. Johe&rsquo;s renewal,
the Company granted Dr. Johe 5,000,000 common stock purchase options. The options have an exercise price of $0.92 and a term of
10 years. The options vest at a rate of 500,000 shares every six months. In addition to the vesting conditions, vesting of the
final 2,000,000 options is also subject to the Company receiving approval from its shareholders to either: (i) make the grant on
a stand-alone basis, (ii) amend the terms of the Company&rsquo;s 2010 Equity Compensation Plan (&ldquo;Plan&rdquo;) to increase
the number of shares available for grant under the plan by at least 2,000,000 common shares, or (iii) authorize a new equity compensation
plan covering at least 2,000,000 common shares. Additionally, the number of shares into which the final 2,500,000 options to vest
are exercisable into is subject to reduction (but not increase) if the closing price of the Company&rsquo;s common stock on the
day of exercise is above $5.00. The reduction is applied to the number of shares of common stock underlying the options being exercised
by a fraction of which the numerator is $5.00 and the denominator is the closing price of the Company&rsquo;s common stock on the
day of exercise, subject to further adjustment as provided for in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: black">The foregoing
summary of the terms of the renewal agreements of </FONT>Mr. Garr, Dr. Johe and Dr. Hazel <FONT STYLE="color: black">are subject
to, and qualified in their entirety by, the form of each respective agreement attached to this Current Report on Form 8-K as Exhibits
10.01, 10.02 and 10.03 respectively and are incorporated herein by reference. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding: 0; font-weight: bold; text-align: justify; text-indent: 0">Item 8.01.</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-align: justify; text-indent: 0; width: 88%">Other Events.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 25, 2012, the Company announced
that the seventeenth patient was treated in the ongoing Phase I trial of its spinal cord neural stem cells for the treatment of
amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). A copy of the press release is attached to this report as Exhibit
99.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 26, 2012, the Company announced
that it received a notice of issuance for patent number 12/710,097 titled: &ldquo;Transplantation of Human Neural Cells for Treatment
of Neurodegenerative Conditions.&rdquo; A copy of the press release is attached to this report as Exhibit 99.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding: 0; font-weight: bold; text-align: justify; text-indent: 0">Item 9.01</TD>
    <TD STYLE="padding: 0; font-weight: bold; text-align: justify; text-indent: 0; width: 88%">Financial Statement and Exhibits.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 9%; font-weight: bold; padding: 0; text-indent: 0">Exhibit <BR>
<U>Number</U></TD>
    <TD STYLE="width: 6%; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 85%; font-weight: bold; padding: 0 0 0 0.36in; text-indent: 0"><U>Description</U></TD></TR>
<TR>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">10.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">Form of Renewal Agreement of I. Richard Garr</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">10.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">Form of Renewal Agreement of Dr. Karl Johe</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">10.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: justify; text-indent: 0">Form of Renewal Agreement of Dr. Tom Hazel</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">99.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: justify; text-indent: 0">Copy of press release issued July 25, 2012</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">99.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: justify; text-indent: 0">Copy of press release issued July 26, 2012</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="RIGHT" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 0; text-indent: 0">NEURALSTEM, INC</TD></TR>
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 1%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 45%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0; border-bottom: Black 1pt solid">/s/ I. Richard Garr</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">I. Richard Garr<BR>
<FONT STYLE="color: black">Chief Executive Officer</FONT></TD></TR>
</TABLE><BR STYLE="clear: both">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.2pt; text-indent: -12.25pt">Dated: July 27, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.2pt; text-indent: -12.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.2pt; text-indent: -12.25pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXHIBITS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 9%; font-weight: bold; padding: 0; text-indent: 0">Exhibit <BR>
<U>Number</U></TD>
    <TD STYLE="width: 6%; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 85%; font-weight: bold; padding: 0 0 0 0.36in; text-indent: 0"><U>Description</U></TD></TR>
<TR>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">10.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">Form of Renewal Agreement of I. Richard Garr</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">10.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-indent: 0">Form of Renewal Agreement of Dr. Karl Johe</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">10.03</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: justify; text-indent: 0">Form of Renewal Agreement of Dr. Tom Hazel</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">99.01</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: justify; text-indent: 0">Copy of press release issued July 25, 2012</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0; text-indent: 0">99.02</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0; text-align: justify; text-indent: 0">Copy of press release issued July 26, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.2pt; text-indent: -12.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 12.2pt; text-indent: -12.25pt">&nbsp;</P>

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[{"type": "8-K", "sequence": "1", "filename": "v319670_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 23514}]
{"company-data": {"conformed-name": "Neuralstem, Inc.", "cik": "0001357459", "assigned-sic": "2836", "irs-number": "522007292", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-33672", "film-number": "12990736"}, "business-address": {"street1": "9700 GREAT SENECA HIGHWAY", "city": "ROCKVILLE", "state": "MD", "zip": "20850", "phone": "3013664841"}, "mail-address": {"street1": "9700 GREAT SENECA HIGHWAY", "city": "ROCKVILLE", "state": "MD", "zip": "20850"}}
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): July 27, 2012 (July 25, 2012)
Neuralstem, Inc.
(Exact name of registrant as specified
in Charter)
Delaware
000-1357459
52-2007292
(State or other jurisdiction of
incorporation or organization)
(Commission File No.)
(IRS Employee Identification
    No.)
9700 Great Seneca Highway, Rockville,
Maryland 20850
(Address of Principal Executive Offices)
(301) 366-4841
(Issuer Telephone
number)
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 (see General Instruction
A.2. below):
¨
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))
Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 25, 2012, Neuralstem, Inc. ("Company")
renewed the employment contracts of: (i) Mr. I. Richard Garr, the Company's CEO, interim CFO and general counsel, (ii) Dr.
Karl Johe, the Company's Chief Scientific Officer and (iii) Dr. Tom Hazel, the Company's Senior Vice President of Research.
The renewals extend the current employment agreements of Mr. Garr, Dr. Johe and Dr. Hazel for an additional period of 60 months.
Accordingly, the termination date for the employment agreements of Mr. Garr and Dr. Johe will now be October 31, 2017. The termination
date for Dr. Hazel's employment agreement will be August 11, 2017. All other terms and conditions of their respective employment
agreements remained the same.
In connection with Dr. Johe's renewal,
the Company granted Dr. Johe 5,000,000 common stock purchase options. The options have an exercise price of $0.92 and a term of
10 years. The options vest at a rate of 500,000 shares every six months. In addition to the vesting conditions, vesting of the
final 2,000,000 options is also subject to the Company receiving approval from its shareholders to either: (i) make the grant on
a stand-alone basis, (ii) amend the terms of the Company's 2010 Equity Compensation Plan ("Plan") to increase
the number of shares available for grant under the plan by at least 2,000,000 common shares, or (iii) authorize a new equity compensation
plan covering at least 2,000,000 common shares. Additionally, the number of shares into which the final 2,500,000 options to vest
are exercisable into is subject to reduction (but not increase) if the closing price of the Company's common stock on the
day of exercise is above $5.00. The reduction is applied to the number of shares of common stock underlying the options being exercised
by a fraction of which the numerator is $5.00 and the denominator is the closing price of the Company's common stock on the
day of exercise, subject to further adjustment as provided for in the Plan.
The foregoing
summary of the terms of the renewal agreements of
Mr. Garr, Dr. Johe and Dr. Hazel
are subject
to, and qualified in their entirety by, the form of each respective agreement attached to this Current Report on Form 8-K as Exhibits
10.01, 10.02 and 10.03 respectively and are incorporated herein by reference.
Item 8.01.
Other Events.
On July 25, 2012, the Company announced
that the seventeenth patient was treated in the ongoing Phase I trial of its spinal cord neural stem cells for the treatment of
amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease). A copy of the press release is attached to this report as Exhibit
99.01.
On July 26, 2012, the Company announced
that it received a notice of issuance for patent number 12/710,097 titled: "Transplantation of Human Neural Cells for Treatment
of Neurodegenerative Conditions." A copy of the press release is attached to this report as Exhibit 99.02.
Item 9.01
Financial Statement and Exhibits.
Exhibit
Number
Description
10.01
Form of Renewal Agreement of I. Richard Garr
10.02
Form of Renewal Agreement of Dr. Karl Johe
10.03
Form of Renewal Agreement of Dr. Tom Hazel
99.01
Copy of press release issued July 25, 2012
99.02
Copy of press release issued July 26, 2012
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this Report on Form 8-K to be signed on its behalf by the undersigned hereunto
duly authorized.
NEURALSTEM, INC
By:
/s/ I. Richard Garr
I. Richard Garr
Chief Executive Officer
Dated: July 27, 2012
EXHIBITS
Exhibit
Number
Description
10.01
Form of Renewal Agreement of I. Richard Garr
10.02
Form of Renewal Agreement of Dr. Karl Johe
10.03
Form of Renewal Agreement of Dr. Tom Hazel
99.01
Copy of press release issued July 25, 2012
99.02
Copy of press release issued July 26, 2012