Magenta Therapeutics, Inc. approved a restructuring plan (the “Plan”) to reduce the Company's operations to preserve financial resources, resulting in a reduction of the Company's workforce by up to 56 positions, or approximately 84%, to be substantially completed by February 17, 2023. In connection with the Plan the following members of the Company's executive team, (i) Jason Gardner, President, (ii) David Nichols, Chief Technical Officer, (iii) Caren Deardorf, Chief Commercial Officer, (iv) Kristen Stants, Chief People Officer and (v) Shawn Rose, Senior Vice President and Head of Clinical Development, will be leaving the Company to pursue new opportunities. Dr. Gardner will no longer serve as a director of the Company, effective as of February 7, 2023.

In connection with the Plan, Stephen Mahoney, Chief Financial and Operating Officer, was named President of the Company.