On April 5, 2021, Precision BioSciences, Inc. and Matthew Kane, the company's President and Chief Executive Officer, entered into a Transition and Separation Agreement in connection with the Company's transition plan to commence a search for Mr. Kane's successor. Pursuant to the Transition Agreement, Mr. Kane will continue to serve as the company's President and Chief Executive officer and a member of the Board of Directors of the Company until his successor commences employment with the company .