FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Kola Ismail 2. Issuer Name and Ticker or Trading Symbol ATHERSYS, INC / NEW [ ATHX ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)
3201 CARNEGIE AVENUE
3. Date of Earliest Transaction (MM/DD/YYYY)
9/16/2022
(Street)
CLEVELAND, OH 44115-2634
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock  9/16/2022    A    20512 (1) A $0  24512 (2) D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to purchase)  $1.95  9/16/2022    A     32042       (3) 9/16/2032  Common Stock  32042.0  $0  32042  D   
Stock Option (right to purchase) (4) $38.5                   (5) 6/15/2031  Common Stock  2000.0    2000  D   
Stock Option (right to purchase) (4) $50.0                  6/15/2020  3/11/2031  Common Stock  4000.0    4000  D   
Stock Option (right to purchase) (4) $71.75                   (5) 6/18/2030  Common Stock  2000.0    2000  D   
Stock Option (right to purchase) (4) $38.75                   (5) 6/12/2029  Common Stock  2000.0    2000  D   
Stock Option (right to purchase) (4) $57.75                   (5) 6/18/2028  Common Stock  2000.0    2000  D   
Stock Option (right to purchase) (4) $36.5                   (5) 6/7/2027  Common Stock  1200.0    1200  D   
Stock Option (right to purchase) (4) $54.75                   (5) 6/20/2026  Common Stock  1200.0    1200  D   
Stock Option (right to purchase) (4) $46.0                   (6) 3/7/2026  Common Stock  3000.0    3000  D   
Stock Option (right to purchase) (4) $32.0                   (5) 6/24/2025  Common Stock  1200.0    1200  D   
Stock Option (right to purchase) (4) $41.25                   (5) 6/17/2024  Common Stock  1200.0    1200  D   
Stock Option (right to purchase) (4) $42.75                   (5) 9/10/2023  Common Stock  600.0    600  D   
Stock Option (right to purchase) (4) $42.75                   (5) 6/18/2023  Common Stock  600.0    600  D   

Explanation of Responses:
(1)  Represents the exempt acquisition of 20,512 restricted stock units that in general will vest in total on December 31, 2022, subject generally to the Reporting Person's continued service on the Issuer's Board of Directors.
(2)  On August 26, 2022, the Issuer effected a 1-for-25 reverse stock split of its Common Stock (the "Reverse Stock Split"), resulting in a decrease in the Reporting Person's ownership by 96,000 shares.
(3)  Represents the exempt acquisition of stock options to purchase 32,042 shares of the Issuer's Common Stock at a per share exercise price of $1.95. These stock options in general will vest on July 28, 2023, subject generally to the Reporting Person's continued service on the Issuer's Board of Directors.
(4)  This option has been adjusted to reflect the Reverse Stock Split (in prior reports, this option was previously reported as covering a number of shares equal to this reported amount times 25 (and at an exercise price equal to this reported exercise price divided by 25)).
(5)  Award of a nonqualified stock option. The option vests ratably on a quarterly basis over a one-year period and are now fully vested.
(6)  These stock options vested ratably on a quarterly basis over three years and are now fully vested

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Kola Ismail
3201 CARNEGIE AVENUE
CLEVELAND, OH 44115-2634
X



Signatures
/s/ Barb Cameron, as attorney-in-fact for Ismail Kola 9/20/2022
**Signature of Reporting Person Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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