7. RESTRUCTURINGS

April 2013 Restructuring

On April 25, 2013, we announced the decision to discontinue our discovery research programs and companion diagnostics program based on telomere length and close our research laboratory facility located at 200 Constitution Drive, Menlo Park, California. With this decision, a total of 20 positions were eliminated. In connection with this restructuring, we incurred aggregate restructuring charges of $1,370,000 for the year ended December 31, 2013, of which $624,000 related to one-time termination benefits, including $28,000 of non-cash stock-based compensation expense relating to the extension of the post-termination exercise period through the end of December 2013 for certain stock options previously granted to terminated employees, $200,000 related to write-downs of excess equipment and leasehold improvements and $546,000 related to costs associated with the closure of our research laboratory facility. In connection with the decision to close our research laboratory facility, we entered into an amendment to the lease agreement for the 200 Constitution Drive facility under which the lease terminated effective December 31, 2013. As consideration for the early termination of the lease, we paid the landlord the remaining rents due under the original term of the lease as well as certain facility maintenance costs, all of which have been included in restructuring charges. We expect the restructuring will result in aggregate cash expenditures of approximately $1,087,000 after adjustments and non-cash credits, of which $993,000 has been paid as of December 31, 2013 and related to one-time termination benefits and facility-related charges. As of December 31, 2013, we have received proceeds of $1,080,000 from the sale of excess laboratory equipment in connection with the closure of our research laboratory facility. All actions associated with this restructuring were completed in 2013, and we do not anticipate incurring any further charges in connection with this restructuring.

December 2012 Restructuring

On December 3, 2012, we announced the decision to discontinue development of GRN1005. With this decision, a total of 43 positions were eliminated. Of those, ten employees continued to provide services through various dates in the first half of 2013. In connection with this restructuring, we incurred aggregate restructuring charges of $2,794,000, of which $2,702,000 was recognized for the year ended December 31, 2012 and $92,000 was recognized for the year ended December 31, 2013. The aggregate restructuring charges consisted of $2,523,000 related to one-time termination benefits, including $107,000 of non-cash stock-based compensation expense relating to the extension of the post-termination exercise period through the end of December 2013 for certain stock options previously granted to terminated employees, and $271,000 related to write-downs of GRN1005 manufacturing equipment. The restructuring resulted in aggregate cash expenditures of $2,271,000 after adjustments and non-cash credits. All actions associated with this restructuring were completed in 2013, and we do not anticipate incurring any further charges in connection with this restructuring.

November 2011 Restructuring

On November 14, 2011, we announced the decision to discontinue further development of our stem cell programs. With this decision, a total of 66 positions were eliminated. Of those, 14 employees continued to provide services through various dates in the first half of 2012. In connection with this restructuring, we incurred aggregate restructuring charges of approximately $5,449,000 for the year ended December 31, 2011, of which $4,575,000 related to one-time termination benefits, including $174,000 of non-cash stock-based compensation expense relating to the extension of the post-termination exercise period through the end of June 2013 and December 2013 for certain stock options previously granted to terminated employees, and $874,000 related to write-downs of excess lab equipment and leasehold improvements and other charges. The restructuring resulted in aggregate cash expenditures of $4,165,000 after adjustments and non-cash credits. All actions associated with this restructuring were completed in 2012, and we do not anticipate incurring any further charges in connection with this restructuring.

The components relating to the April 2013, December 2012 and November 2011 restructurings, including the outstanding restructuring liability which is included in accrued restructuring charges on our consolidated balance sheet as of December 31, 2013, are summarized in the following table:

(In thousands)	Employee Severance and Other Benefits			Asset Write Downs			Facility Related Charges			Total

Beginning accrual balance as of December 31, 2012	$	1,972		$	—		$	—		$	1,972
Restructuring charges		716			200			546			1,462
Cash payments		(2,438	)		—			(473	)		(2,911	)
Adjustments or non-cash credits, including stock-based compensation expense		(229	)		(200	)		—			(429	)


Ending accrual balance as of December 31, 2013	$	21		$	—		$	73		$	94