On June 6, 2014, Robert Nelsen, a director of Fate Therapeutics, Inc., concluded his term on the Board of Directors of the Company and all committees thereof and did not stand for re-election at the Company's 2014 Annual Meeting of Stockholders. Mr. Nelsen previously served on the Compensation Committee. The decision of Mr. Nelsen to retire from the Board of Directors did not involve any disagreement with the Company.

Also on June 6, 2014, William Rastetter was appointed to the Compensation Committee of the Board of Directors to fill the vacancy created by Mr. Nelsen's retirement.