On April 2, 2019, Linda Tufts provided notice to the board of directors of PhaseBio Pharmaceuticals, Inc. of her decision to not stand for re-election as a Class I director at the company’s 2019 annual meeting of stockholders. Ms. Tufts has served as a valued member of the Board since March 2018 and currently serves as a member of the Audit Committee. Ms. Tufts’ decision not to stand for re-election was not the result of any disagreement with the Company but rather is in accordance with the governance guidelines of her employer. In connection with Ms. Tufts’ decision to not stand for re-election as a Class I director, the Nominating and Corporate Governance Committee appointed Richard van den Broek to replace Ms. Tufts as a member of the Audit Committee and Edmund Harrigan to serve as a member of the Compensation Committee, each effective immediately upon the conclusion of the Annual Meeting.