On September 14, 2021, Peter Justin Klein resigned from the board of directors of PhaseBio Pharmaceuticals, Inc. Dr. Klein was a Class I director whose term was to expire at the Company’s 2022 annual meeting of stockholders (the “2022 Annual Meeting”) and was a member of the Compensation Committee. His decision to resign was not the result of any disagreement with the Company relating to its operations, policies or practices. On September 14, 2021, the Board appointed William Humphries to serve as a director of the Company, effective upon the resignation of Dr. Klein. Mr. Humphries will serve as a Class I director whose term will expire at the 2022 Annual Meeting, at which time he will stand for election by the Company’s stockholders. Mr. Humphries was also appointed as a member of the Compensation Committee. Mr. Humphries, age 55, has served as Chief Executive Officer of Isosceles Pharmaceuticals Inc., a biotechnology company, since May 2021.